Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia
Download Telegram App before Joining the Channel
* US & China sign phase 1 of the trade deal
* ECB remains optimistic on Eurozone
Indian Rupee depreciated by 0.45 percent yesterday AS the Dollar index rose by 0.17 percent during the same time frame. In January 2020 so far the foreign investors have sold about $1.58 billion in debt. The funds flow coupled with the month end Dollar demand led to the depreciation in the Rupee IMF slashed India’s growth forecast by 1.3 percentage points to 4.8% for 2019-20, prompting the agency to also trim its global growth estimates as a result.
CPI data from US came in line with market expectations at 0.2 percent for Dec’19. Core retail sales data from US came in at 0.7 percent for Dec’19 against market expectations of 0.5 percent. Markets wait for the first U.S. Federal Reserve’s meeting in 2020 which is scheduled for 28th -29th January’20.
USDINR is expected to move higher in today’s session
EURUSD depreciated by 0.35 percent yesterday while EURINR appreciated by 0.04 percent the same time frame.
The European Central Bank kept its monetary policy unchanged and stated that the overall situation justifies the negative interest rate environment. Even ECB’s aggressive stimulus measures couldn’t help them achieve their inflation target.
The latest signs of improvement may fall short of confirming a bottom, but for sure are encouraging. German CPI came in line with market expectations at 0.5 percent for Dec’19. German economic sentiment came in at 26.7 for Dec’19 against market expectations of 15.
EURINR is expected to move sideways in today’s session.
GBPUSD depreciated by 0.14 percent yesterday while GBPINR appreciated by 0.32 percent.
Markets expectations of no pull back in the interest rate the Bank of England next week provided some support.
The December election has brought some certainty for Brexit; however, the exit process still remains a puzzle. UK PM Johnson confirmed that he is confident a trade deal with the EU could be achieved before year-end.
GBPINR is expected to move higher in today’s session.
To Read Complete Report & Disclaimer Click Here
Click here to open demat account
Please refer disclaimer at https://trade.angelbroking.com/Downloads/ARQ-Disclaimer-Note.pdf
SEBI Registration number is INH000000164
Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer