Yesterday, the Indian Rupee spot traded on a flat note as bearish American currency post the dovish statement by the US Fed Chair and the email debacle involving Donald Trump Jr and a Russian lawyer led support to the Indian Rupee. Furthermore, persistent selling of the US Dollar by exporters and banks provided strength to the currency. Domestic markets i.e. Sensex and Nifty traded in green on account of huge foreign inflows post GST tax installation as it is seen well for the long term. Today, USDINR spot is likely to strengthen.
Yesterday, EURINR spot fell by 0.11 percent as lack of important economic datasets form the nation kept the trading volumes a bit light. The German Chancellor Angela Merkel stated that she was open to the creation of a finance minister and budget for the Eurozone as proposed by French President Emmanuel Macron. Moreover, France’s top central banker has pleaded with Germany to loosen its fiscal policy as part of a deal with his country to strengthen the Euro-zone. Today, EURINR spot is likely to trade lower.
Yesterday, GBPINR traded higher by 0.42 percent as robust release of employment data from the nation infused positive sentiments in to the markets thereby providing support to the Pound’s price trend. One of the BoE policymaker failed to address outlook for interest rates however, warned the markets that less trade with EU could hurt economy which capped sharp gains. Today, GBPINR spot is expected to trade higher.
Yesterday, JPYINR traded fell by 0.09 percent as traders are adopting risk-on trade technique which dented the demand for safe-haven yen. Today, JPYINR spot is expected to trade lower.
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