Rupee is likely to positive: 09.02Am
Rupee is likely to trade positive as markets discount the recent RBI monetary policy review where the governor kept the rates unchanged which went with the markets predictions.
US DOLLAR INDEX (USD) After standing strong in the past 2 - 3 days, the American currency fell by 0. 5 percent. This was mainly due to the recent strength in the currency that prompted the traders to book profits. However, sharp losses were capped as markets discount the robust release of ADP and NFP employment data from the nation that came far bet ter than the expected levels in July’16. Amid uncertain global conditions, there has been a decent demand for workers which clearly indicates that the labour markets have finally found some stability.
US Dollar Index made an intraday low of 9 5.38 and clos ed at 9 5.61 levels on Monday. OUTLOOK Rupee is likely to trade positive as markets discount the recent RBI monetary policy review where the governor kept the rates unchanged which went with the markets predictions. Moreover, weakness in the DX will keep the INR supportive.
Rupee is likely to trade positive as markets discount the recent RBI monetary policy review where the governor kept the rates unchanged which went with the markets predictions.
US DOLLAR INDEX (USD) After standing strong in the past 2 - 3 days, the American currency fell by 0. 5 percent. This was mainly due to the recent strength in the currency that prompted the traders to book profits. However, sharp losses were capped as markets discount the robust release of ADP and NFP employment data from the nation that came far bet ter than the expected levels in July’16. Amid uncertain global conditions, there has been a decent demand for workers which clearly indicates that the labour markets have finally found some stability.
US Dollar Index made an intraday low of 9 5.38 and clos ed at 9 5.61 levels on Monday. OUTLOOK Rupee is likely to trade positive as markets discount the recent RBI monetary policy review where the governor kept the rates unchanged which went with the markets predictions. Moreover, weakness in the DX will keep the INR supportive.
