Insignia Consultants
New Delhi
Tuesday, 18 February 2020
TIME
8:56 AM IST
----------------------------------------------------------------------------------------------------------------
MCX
METALS MARKET REPORTUSA is opening after a holiday. Physical demand for gold is almost nil worldwide. Investment demand continues to rise with passing of each day. Crude oil is rising on hopes that global slowdown will be over next month. Every economic information of every nation is censored. Global leaders do not want to create economic panic due to corona virus. But ask yourself why are central banks (of almost every nation) of each nation injecting more liquidity and also announcing stimulus measures due to the corona virus? I do not believe that central banks are taking pre emptive measures. There is some short term economic damage already done.
There is no impact of Chinese supplies in India. Close friends who import from China say that Indian manufacturers will benefit only if imports from China fall drastically from April onwards. (Those who import from China had already stocked themselves to meet demand will the Middle of March due to Chinese New Year.)
Be prepared for five percent one way price moves any day till 28th February. Boom or bust time for all MCX metals and MCX energies till end February.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.4350: Rupee can rise to 71.6925 today as long as it trades over 71.3550. Sell off will be there below 71.3550. Rupee can fall first on bunched up supplies due to USA close yesterday and then rise.
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Disclaimer: Any opinions as to the commentary, market
information, and future direction of prices of specific currencies, metals and
commodities reflect the views of the individual analyst, In no event shall
Insignia Consultants or its employees have any liability for any losses
incurred in connection with any decision made, action or inaction taken by any
party in reliance upon the information provided in this material; or in any
delays, inaccuracies, errors in, or omissions of Information. Nothing in this
article is, or should be construed as, investment advice. All analyses used
herein are subjective opinions of the author and should not be considered as
specific investment advice. Investors/Traders must consider all relevant risk
factors including their own personal financial situation before trading.
Websitewww.insigniaconsultants.in. Prepared by
Chintan Karnani
Disclosure: Members, employees, directors, clients and all other people
associated with “Insignia consultants” do trade in MCX metals and energies.
They may or may not have positions on the trading strategies mentioned in this
report. They may also have open positions in MCX metals and energies futures in
trading strategies other than those mentioned in this report.
Insignia Consultants does not have any branches in India.
Insignia Consultants does not have any marketing agents in any city in
India.
NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE
SPECIFIED
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THE
TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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