The banking crisis in US and Europe may continue to put downside pressure on riskier assets. On outlook for INR vs USD, Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas said, "We expect Rupee to trade with a negative bias on deteriorating global risk sentiments. In fact, Nomura has predicted 25 bps rate hike in this FOMC meeting scheduled from 21st to 22nd March 2022. But, South Korean KOSPI was up 0.54 per cent.Īhead of US Fed's FOMC meeting beginning today, US dollar rate continues to remain under pressure as market is expecting less hawkish stance from the US Fed officials in this FOMC meeting. In early morning deals on Tuesday, the Japanese Nikkei crashed 1.42 per cent, Shanghai index is down 0.39 per cent, Hong Kong's Hang Seng tumbled 0.74 per cent. "SGX Nifty is signaling range-bound session on Tuesday as short covering is expecting at crucial support levels and selling at major resistance levels," said Anuj Gupta of IIFL Securities. However, profit booking triggered at higher levels and the index went on to hit intraday low of 16,840 levels. In early morning session, SGX Nifty opened higher at 17,081 and went on to hit intraday high of 17,112 mark. "US Fed rate hike below 50 bps would mean less hawkish stance of the US Fed officials and it would be negative for the US dollar but good for equities and other assets," said Anuj Gupta, Vice President - Research at IIFL Securities. ![]() Market is buzz with hawkish stance from the US Fed officials in this meeting and expecting a maximum of 25 bps rate hike. Two days US Fed's FOMC meeting is beginning today and its outcome will be announced on tomorrow i.e. Global central banks witnessed no dash for dollars after uniting with the Federal Reserve to ease access to supplies of the US currency - an indication that the latest bout of banking turbulence may not be causing undue stress to the financial system," said Marc Despallieres, Chief Strategy and Trading Officer at Vantage. ![]() " US stocks edged higher as regulators worldwide rushed to shore up market confidence, with the recent financial turmoil spurring speculation on a slower pace of tightening from major central banks.
0 Comments
Leave a Reply. |