Rupee is likely to trade lower: 19.09.2016
NIFTY Fut : BUY ZONE
BANKNIFTY FUT : BUY ZONE
Click Here & Register To Get 2 days Trial Tips
Rupee is likely to trade lower as markets indulge in speculation ahead of central bank meetings in the US and Japan this week.
Robust release of inflation rate from the US has increased the chances of a rate hike which will keep the DX strong.
US DOLLAR INDEX (USD) In spite of the recent dovish comments by Boston Fed President Eric Rosengren and Fed Governor Lael Brainard, US Dollar Index traded higher by 0.8 percent in the last week. Reason behind this sudden upswing could be attributed to the robust release of inflation data from the nation on 16 th Sep’16. Due to sharp rise in healthcare cost, consumer prices rose more than expected levels in Aug’16.
Markets believe that this steady build - up of inflation could allow the Federal Reserve to raise interest rates sooner - than - later in 2016. Due to all the above factors, there a demand boost for US Dollar which made a weekly high of 96.12 and ended at 96.11 levels on Friday. OUTLOOK Rupee is likely to trade lower as markets indulge in speculation ahead of central bank meetings in the US and Japan this week. Robust release of inflation rate from the US has increased the chances of a rate hike which will keep the DX strong. This in turn will keep the INR pressurized.
NIFTY Fut : BUY ZONE
BANKNIFTY FUT : BUY ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Robust release of inflation rate from the US has increased the chances of a rate hike which will keep the DX strong.
US DOLLAR INDEX (USD) In spite of the recent dovish comments by Boston Fed President Eric Rosengren and Fed Governor Lael Brainard, US Dollar Index traded higher by 0.8 percent in the last week. Reason behind this sudden upswing could be attributed to the robust release of inflation data from the nation on 16 th Sep’16. Due to sharp rise in healthcare cost, consumer prices rose more than expected levels in Aug’16.
Markets believe that this steady build - up of inflation could allow the Federal Reserve to raise interest rates sooner - than - later in 2016. Due to all the above factors, there a demand boost for US Dollar which made a weekly high of 96.12 and ended at 96.11 levels on Friday. OUTLOOK Rupee is likely to trade lower as markets indulge in speculation ahead of central bank meetings in the US and Japan this week. Robust release of inflation rate from the US has increased the chances of a rate hike which will keep the DX strong. This in turn will keep the INR pressurized.
