Powered by: Motilal Oswal
01-01-1970 12:00 AM | Source: ICICI Direct
US dollar declined 0.08% yesterday amid a surge in stock markets - ICICI Direct
News By Tags | #2767 #3961

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

Rupee Outlook and Strategy

 US dollar declined 0.08% yesterday amid a surge in stock markets. Additionally, market participants remained cautious ahead of US Federal Reserve Chairman Powell speech at Jackson Hole Symposium to gain fresh insights on monetary tightening. Furthermore, concern over uptick in Covid-19 cases in US added downside pressure. However, rise in US treasury yields and better than expected economic data from US prevented further fall in dollar

Rupee future maturing on August 27 depreciated by 0.06% in yesterday’s trading session on surge in crude oil prices and muted domestic markets

Rupee is likely to appreciate on weakness in dollar and rise in risk appetite in the global markets. However, sharp gains may be prevented on surge in crude oil prices and as market participants are worried that spread of highly infectious delta variant may derail global economic recovery. Additionally, market will remain vigilant ahead of Jackson Hole Symposium

 

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