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23 January 2023
Monday
All Eyes on upcoming data release.
Rupee made a robust start to holiday trimmed week at 80.94 levels with laggard dollar index hovering around the levels of 101.68. Dollar index seems to have entered into corrective phase, as the data print from world largest economy has missed estimates on continuous basis. Major trigger was the US inflation which significantly fell to 6.5 percent, from previous 9.1 percent. This may force FED to go with smaller rate hikes to further protect the economy from a recession. Going ahead, the local unit is expected to trade range bound, as market participants would be eyeing on upcoming FOMC along with other major event of Union Budget for better clues.
On international front, US will release its advanced look at Q4 GDP this week along with Core PCE, which is expected to drop to 4.4% YoY from 4.7% YoY in November. And if it ends weaker than expected; will FOMC pause their rate on February 1st? Other important economic data due this week include Richmond Fed Mfg. Index, New Home sales, Monthly Personal Income/Spending, Core PCE data and Michigan Consumer Sentiment survey. Also, BoJ will release their Minutes from January’s Interest Rate decision meeting; which can reveal if all the committee members are dovish like Kuroda or if some members wanted to begin with Quantitative Tightening.
Trading currency involves the right combination of awareness, preparation and action. Over the last thirty years, Mecklai Financial has equipped corporate treasury managers and CFO’s in India’s with actionable advice to optimally manage their market risk .Mecklai will give you the right information, analysis, and updates for traded currency future pairs.
The service will highlight potential trades in currencies with the trading calls rendered through SMS for timely execution. The SMS will mention entry price range, stop loss levels and the expected target zones.
Recommendations are provided for short term and positional trading with entry level and stop loss.
The weekly roundup report will provide detailed insights on the current and future trends in currencies and related commodities like gold and oil. Additionally, it will outline the trend and trading opportunities in the week ahead.
The weekly mailer gives you a smart perspective on how global and domestic events will impact your currency trading with snippets on gold and oil. In addition the charts and the technical levels for each of the four currency pairs (USD/INR, EUR/INR, GBP/INR, JPY/INR) give you firm levels to enter and exit positional trades with optimum risk.
As a new investor in this market you may find Currency trading appear intimidating, but Mecklai will help you break through the layers of jargon and simplify things the various terms for you.
All trades recommended are tracked on a weekly basis so you can see the impact directly on your balance sheets.
Their CEO, Jamal Mecklai, is an authority on all matters market and has been appointed to RBI committees to recommend measures on the local foreign exchange markets and managing commodity risk. He is also consultant to the World Gold Council and the Forwards Markets Commission and a frequent contributor to the media, both print and electronic.
Vision:
To provide clients with unparalleled knowledge of markets and use Mecklai’s experience to enable companies and individuals make optimal use of markets.
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