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Last Updated : Jul 21, 2016 10:08 AM IST | Source: Moneycontrol.com

Rupee is likely to positive: Angel Broking

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.

OUTLOOK

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.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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First Published on Jul 21, 2016 10:00 am
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