GBPINR Intraday Outlook : 7.4.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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The pound against majors will be data driven today as UK Factory production and Goods Trade Balance data along with the Halifax HPI is to be released today. Focus would also be on the BOE Governor Carney's speech. Sterling is not very closely linked to interest rate expectations at the moment. It's really whether there is a soft or a hard Brexit driving sterling, and that is going to continue for a year or so. Across the channel, the European Central Bank will also be maintaining its ultra-loose monetary policy stance for the foreseeable future and the euro faces its own headwinds in the coming months. Elections in Germany and possibly Italy could harm the euro project while a win for the far-right National Front candidate Marine Le Pen in the French presidential race could precipitate an eventual end to the common currency altogether.