The trading range for the day is seen between 66.50-67.30/dollar, says Pramit Brahmbhatt of Veracity.
According to Angel Broking, Rupee is likely to trade lower owing to weakness in the DX that will provide some support to the Indian Rupee. US Federal Reserve kept the key interest rates unchanged and cited the EU Referendum as one of the factors to keep interest rates on hold.
MARKET OVERVIEW
US stocks has rebounded and is trading higher owing to shift in the market sentiments which has prompted the traders to place bets in risky assets once again. Gains in the USmarkets have kept Asian markets positive too.
US DOLLAR INDEX
The American currency traded on a flat note yesterday as markets discounted the outcome of FOMC meeting along with the disappointing release of economic datasets like CPI adnoun employment claims from the nation.
in the recent FOMC meeting, the central bank kept the key interest rates unchanged and cited the EU Referendum as one of the factors to keep interest rates on hold.In spite of the recent disappointing release of economic datasets from the nation along with uncertainties in the global economy, Federal Reserve still hints a two gradual rate hikes in 2016. However, the number of officials that expect the Fed to raise rates only once this year has gone up significantly. The committee also cut its 2016 economic growth forecast to 2 percent from 2.2 percent. Projection for economic growth in 2017 was also slightly decreased
According to Angel Broking, Rupee is likely to trade lower owing to weakness in the DX that will provide some support to the Indian Rupee. US Federal Reserve kept the key interest rates unchanged and cited the EU Referendum as one of the factors to keep interest rates on hold.
MARKET OVERVIEW
US stocks has rebounded and is trading higher owing to shift in the market sentiments which has prompted the traders to place bets in risky assets once again. Gains in the USmarkets have kept Asian markets positive too.
US DOLLAR INDEX
The American currency traded on a flat note yesterday as markets discounted the outcome of FOMC meeting along with the disappointing release of economic datasets like CPI adnoun employment claims from the nation.
in the recent FOMC meeting, the central bank kept the key interest rates unchanged and cited the EU Referendum as one of the factors to keep interest rates on hold.In spite of the recent disappointing release of economic datasets from the nation along with uncertainties in the global economy, Federal Reserve still hints a two gradual rate hikes in 2016. However, the number of officials that expect the Fed to raise rates only once this year has gone up significantly. The committee also cut its 2016 economic growth forecast to 2 percent from 2.2 percent. Projection for economic growth in 2017 was also slightly decreased
US Dollar Index made an intraday low of 94.26 and closed at 94.71 on Thursday.
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