HomeBusinessMarket Analysis: Focus will be on the Bank of England MPC meeting

Market Analysis: Focus will be on the Bank of England MPC meeting

Most Read

Levels across currencies are pretty much unchanged overnight. Focus today will be on the Bank of England policy. While it is expected to leave rates unchanged, it is likely to increase asset purchases by GBP 100-150bn.

EIA crude inventory data yesterday indicated a build-up of 1.2mn barrels in inventory. Crude prices are a tad lower. US weekly jobless claims data is due today (exp 1.3 mn).

- Advertisement -

The rupee is likely to open around 76.20 and trade 75.95-76.40 range. We have seen nationalized banks likely offering USD on behalf of the RBI close to 76.40 levels.

The RBI is likely to continue smoothening volatility if Rupee moves out of whack. With REER at around 111.50, the Rupee does not seem to be overvalued any more in relative terms.

Asian currencies are trading stronger against the USD. Thai Baht and Korean Won are among the best performers. The Nifty has opened flat and is likely to trade with a negative bias.

Subscribe To Morning Newsletters

Sign up to receive the latest news stories, exclusive interviews, and more in your inbox.

We don’t spam! Read our privacy policy for more info.

Editor's Pick

Abhishek Goenka
Abhishek Goenkahttp://ifaglobal.net
Abhishek Goenka is a founder & CEO of IFA Global.

Read More Stories

SKF Showcases Intelligent & Clean Solutions for the Textile Industry at International Textile Machinery Exhibition (ITME) 2022

SKF India, the country's leading technology and solutions provider of bearings and services will showcase innovative products and solutions...

OneRare and Cornitos: Bringing the Magic of Cornitos to the Foodverse

Cornitos is a leader in the Snack category and has always strived to give its fans and patrons the...

Chitkara University Signs MoU with NEC Corporation India to Transform Learning in the Field of AI/ML

Chitkara University announced its collaboration with NEC Corporation India, a wholly owned subsidiary of NEC Corporation, for a comprehensive...

Role of skills-based hiring in promoting inclusive economic growth in India

In recent years, India's employment landscape has experienced a profound shift, with an increasing emphasis on skills-based hiring. This...

Data Insights into Action: Techwave CEO Raj Gummadapu On Tech-Driven Approach to Business Empowerment

In an interview with TechGraph, Raj Gummadapu, Co-Founder & CEO of Techwave discussed the company's nuanced approach to Digital...

VTION Digital Appoints Srividya TN to Drive Growth & Strategic Business Development Partnerships

VTION Digital, a leading consumer behaviour measurement & analytics company, is proud to announce the appointment of Ms Srividya...