With Biden passing the $1.9 trillion fiscal stimulus package By Rahul Gupta, Emkay Global
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Below are Views On With Biden passing the $1.9 trillion fiscal stimulus package By Mr. Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services
"With Biden passing the $1.9 trillion fiscal stimulus package, the question arises whether the US economy is still in need of an additional monetary policy support. Or like ECB policy, the Fed can also increase the volume of bond buying in order to calm the rising US yields. So next week’s Fed policy outcome is very crucial to set the overall mood of the market. Right now, higher risk appetite is keeping the spot below 73 zone. For next week, we expect USDINR spot to trade within 72.25-73.25 with a sideways bias.”
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
