NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
The euro has remained broadly underpinned in the wake of the kick-down of the anti-EU movement at the Dutch election and after ECB member Nowotny said late Friday that the deposit rate may be hiked before the repo rate. Nowotny's comments were not intended to signal the timing of a policy tightening, but have been nonetheless taken as a bullish euro cue by markets. EUR-USD clocked a six-week high earlier at 1.0782. Although political risks seem to be ameliorating in the Eurozone, we recommend fading EUR-USD gains as the Fed policy path is in a markedly different direction to the ECB. The German Buba's Monthly report that is to be released today, is expected to be of the same viewpoints of that of the ECB but all eyes would be on the Buba Prez Weidmann's speech.