- Commodities largely traded higher amid supply tightness concerns, while recovery in dollar on Fed’s commitment to tame inflation attempted to limit gains.

- Repeated hawkish commentary by Fed officials added to signs of undeterred Fed’s monetary tightening expectations.

- Gold closed the week 1.7% higher but retreated from higher levels and closed near $1700/oz as signs of robust U.S. labor market added to bets of another 75 bps rate hike.

- COMEX silver too slipped from $21/oz but still close 5% higher near $20/oz.

- For the week bears might try to keep the prices lower as speeches by several Fed members and FOMC meeting minutes are likely to reiterate on the tightening stance.

- Renewed dollar strength might limit the gains in oil prices this week.

- Commodities might trade sideways to lower for the week as dollar may see extended recovery on increased prospects of a hefty interest rate hike.

- U.S. retail sales and inflation data will be watched closely for more clues on the economy.

APN:

Dollar may see recovery on rate hike prospects

U.S. retail sales and inflation data in focus

Find out in our weekly commodity outlook and trading strategy for Gold, Silver, Crude Oil, and base metals.

Get forex market and rupee movement updates on the go with Kotak Securities Currently in Currency podcast by Anindya Banerjee. USDINR could see more upside lead by rising oil prices, renewed strength in the dollar index, and rising US bond yields. Key data to watch will be the US jobs report tonight

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Get a full trading strategy here for Nifty, Bank Nifty, and sector specific stocks.

Nifty 17,430 will be major resistance level for today, while Nifty 17,180 will be an important support level. The strategy should be to buy between levels of 17,250-17,200 with a stop loss at 17,180, says Shrikant Chouhan in our daily Trade Talk podcast.

Get a full trading strategy here for Nifty, Bank Nifty, Financial, IT, and commodity stocks.

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Get a full trading strategy here for Nifty, Bank Nifty, and sector-specific stocks.

Nifty 17,470-17,425 will be major resistance levels for today, while Nifty 17,200-17,180 will be important support levels. Buying on intraday corrections and selling on rallies would be the ideal strategy for the day traders, says Shrikant Chouhan in our daily Trade Talk podcast.

Get a full trading strategy here for Nifty, Bank Nifty, NBFC, Financial, and IT stocks.

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Get forex market and rupee movement updates on the go with Kotak Securities Currently in Currency podcast by Anindya Banerjee.

USDINR can remain rangebound due to mixed global cues. Focus on Option strategies

#Currency #CurrencyTrading #USDINR #Rupee #Forex #Euro

Get forex market and rupee movement updates on the go with Kotak Securities Currently in Currency podcast by Anindya Banerjee.

USDINR can open lower due to fall in the us bond yields and dollar index. Softer US Eco data also triggered a sharp rally in global equities. Overall it may continue to be erratic within a broad range of 81 and 82.

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Get a full trading strategy here for Nifty, Bank Nifty, and sector-specific stocks.

Nifty 17,250-17,080 will be major resistance levels for today, while Nifty 16,850-16,600 will be our support levels. The strategy should be to initiate long position and place the final stop-loss at 16,850, says Shrikant Chouhan in our daily Trade Talk podcast. Get a full trading strategy here for Nifty, Bank

Nifty, Financial, Commodities, and Upstream Companies stocks.

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Get forex market and rupee movement updates on the go with Kotak Securities

Currently in Currency podcast by Anindya Banerjee. USDINR may be in for a rangebound price action over this week between 81 and 81.90 levels on spot. One can focus on short options strategies.

Get a full trading strategy here for Nifty, Bank Nifty, and sector specific stocks.

Nifty 17,250 - 17,200 will be major resistance levels for today, while Nifty 16,900-16,600 will be important support levels. It is recommended to buy only on bullish reversal formations, says Shrikant Chouhan in our daily Trade Talk podcast. Get a full trading strategy here for Nifty, Bank Nifty, consumption related and upstream companies stocks.

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Highlights of 3rd October '22 Fundamental Weekly Podcast

- The market recovery on Friday halted weekly losses to some extent. Correction in BSE midcap and BSE Smallcap index was a tad higher as compared with Sensex 30 and Nifty 50.

- The RBI monetary policy committee hiked the repo rate by 50 bps to 5.9%. - The RBI policy is on expected lines and inflation expectations are steady as in the last quarter is positive despite elevated.

- FPI’s remained sellers of Indian equities last week. Month till date, FIIs have been net sellers to the tune of Rs 18,038 cr.

- PICK OF THE WEEK – JK Paper (JKP) BUY TARGET - Rs 450. JK Paper reported strong performance (116% YoY). Strong operating performance and lower tax outgo led to 151% YoY and 55% QoQ growth in PAT to Rs 264 cr.