Five “O” Clock
Currency Commodity Report
Closing
prices:
Usd/Inr: 70.2200
Sensex: 37663.56
Nifty: 11385.05
Current rates
Spot Gold: $1181.20
Spot Silver: $14.66
MCX Gold October: Rs.29500
MCX Silver September: Rs.36862
US dollar has pared some of this week’s gains. Gold and
silver are above the day’s low. Indian stock markets fell adjusting to global
peers. US/China and US/Turkey trade related news will be the key. Ignore the US
economic data release unless they say of just once interest rate hike this
year. US dollar is already brought out. The only way is to weaken for the
greenback. Momentum continues to be hyper bullish for US dollar. Indian rupee
also weakened. There will be short covering in the rupee if it weakens tomorrow
till close. Crude oil trade with a softer bias on short term negative
fundamentals.
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