Powered by: Motilal Oswal
21/09/2021 10:39:41 AM | Source: ICICI Direct
Market sentiments were hurt on worries over consequences - ICICI Direct
News By Tags | #2767 #3961
Market sentiments were hurt on worries over consequences - ICICI Direct

Rupee Outlook and Strategy

• US dollar increased by 0.05% yesterday amid risk aversion in the global markets. Market sentiments were hurt on worries over consequences from China’s Evergrande’s solvency issues. Further, market participants remained vigilant ahead of Fed monetary policy meeting

• Rupee future maturing on September 28 depreciated by 0.21% in yesterday’s trading session on strong dollar and weak stock indices. However, a sharp fall was prevented on FII inflows

• The rupee is expected to depreciate on strong dollar and risk aversion in the global markets. Market sentiments were hurt on worries about impact of potential default of China’s Evergrande on economy. Additionally, market participants will remain vigilant ahead of Fed policy meeting to look for indications when bank will start tapering its stimulus. However, sharp fall may be prevented on softening crude oil prices and persistent FII inflows

US$INR Strategy

 

To Read Complete Report & Disclaimer Click Here

 

https://secure.icicidirect.com/Content/StaticData/Disclaimer.html

 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here