IGI Logo

News Box

* The Federal Reserve’s meeting at Jackson Hole keenly awaited. This meeting which brings together central bankers policy makers, economists, academics etc. is expected give insights on taper road mark.

* The dollar index is trading little changed after rising 0.22% yesterday.

* Brent is at 71.6, 0.75%, holding on to the gains made in the last 5 days.

* Risk-off sentiments forced a lower close in US equities. Weekly jobless claims rose moderately, and the 10year yields rose to the highest level since earlier this month.

* FIIs continued their selling spree with another 1974.48Cr net sales yesterday.

OUTLOOK - USDINR

The USDINR 74.15, after briefly seeing 74.27 early in the day. The meek close confirms the indecisiveness that has been prevalent all through this week, and the fact the crucial 74 is being aggressively defended. Nevertheless, we are highly likely to see a range breakout by Monday, beyond the 74-74.3 band. Close below 74 could raise possibilities of falls towards in 74.65, but it is a low probability scenario. Alternatively, rise above 74.3 would call for 74.5 initially, and then 75

To Read Complete Report & Disclaimer Click Here

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 
SEBI Registration Number: INH200000345

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