According to Angel Broking, Rupee is likely to trade positive as positive trading in the Asian market equities after Kyodo reported that Japanese government might infuse a stimulus package of at least 20 trillion yen.
Angel Broking's report on Currencies
US DOLLAR INDEX (USD)
The American currency traded higher by 0.2 percent yesterday and closed at 97.26 levels owing to the robust release of building permits and house starts data from the nation. Construction of newly made home rose more than the forecasted levels in Jun’16, thereby indicating the fact t hat residential real estate has finally gained momentum near the end of its busy selling season. Better - than - anticipated corporate earnings reports from the US companies have also contributed to the boost. Moreover, last week’s robust release of economic d ata from the nation like unemployment claims, producer price data, retail sales and industrial production data has boosted the confidence of the people in the economy. All the above factors have led to DX strengthening.
Rupee is likely to trade positive as positive trading in the Asian market equities after Kyodo reported that Japanese government might infuse a stimulus package of at least 20 trillion yen. This will govern the tren d of the Indian markets and its currency.
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First Published on Jul 21, 2016 10:00 am