MCX Commodity - Market Overview
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The Presidential debates are very important as half of America's likely voters rely on
them to make their likely Presidential choice in the November 8 election.Moreover, the Federal
Reserve chairwoman, Janet Yellen gave no clear indication with respect to rate hike timings.
She said that there was “no fixed timetable for removing” the accommodative stance of monetary policy.
At the same time, she made clear about not wanting to keep interest rates at the same levels
for long. Continued job gains would prompt the Americans to spend thereby pushing up the
inflation rate. She ended the speech by saying that the future course of rate hikes will
be data dependent. All the above factors influenced the market minds thereby denting the demand for the DX which made a weekly low of 95.15 and closed at 95.39 levels on Friday.The Indian Rupee appreciated by 0.23 percent in the last week owing to sustained selling of the US Dollar by exporters and banks amid weaker DX in the overseas markets. Moreover, heavy influx of foreign inflows into the domestic market kept the INR supportive.Domestic markets i.e. Sensex and Nifty traded lower tracking losses in the Asian market equities as problems with Deutsche Bank (German company) & Wells Fargo (US company) prompted the traders to place risk- free bets. Furthermore, India’s attempt to cause surgical strikes on terror launch pads across the Line of Control added to the woes