Wednesday, August 10, 2016

Rupee is likely to positive: 09.02Am

Rupee is likely to positive: 09.02Am

Rupee is likely to trade positive as markets discount the recent RBI monetary policy review where the governor kept the rates unchanged which went with the markets predictions.

 US DOLLAR INDEX (USD) After standing strong in the past 2 - 3 days, the American currency  fell by 0. 5 percent. This was mainly due to the recent strength in  the currency that prompted the traders to book profits. However, sharp losses were capped as markets discount the  robust release of ADP and NFP employment data from the nation  that came far bet ter than the expected levels in July’16. Amid  uncertain global conditions, there has been a decent demand for  workers which clearly indicates that the labour markets have  finally found some stability.

 US Dollar Index made an intraday low of 9 5.38 and clos ed at  9 5.61 levels on Monday. OUTLOOK Rupee is likely to trade positive as  markets discount the  recent RBI  monetary  policy review where the governor kept the rates unchanged which went with the markets predictions. Moreover, weakness in  the DX will keep the INR supportive.