 "oil, fuel")
Commodity outlook and trading ideas by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls:
Outlook:
The dollar has climbed to 16 months high as investors built bets on a Federal Reserve interest rate increase next month and political risks in Europe which put pressure on the euro and the pound. Rupee meanwhile is getting stronger on back of weak crude oil prices. Indian Rupee has support around 72 and if it breaks that level, we can expect USDINR to appreciate till 71.60 levels. Crude is a major factor for strong rupee. The rupee is expected to follow crude
Outlook:
The dollar has climbed to 16 months high as investors built bets on a Federal Reserve interest rate increase next month and political risks in Europe which put pressure on the euro and the pound. Rupee meanwhile is getting stronger on back of weak crude oil prices. Indian Rupee has support around 72 and if it breaks that level, we can expect USDINR to appreciate till 71.60 levels. Crude is a major factor for strong rupee. The rupee is expected to follow crude
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