Given below is meeting calendar of four major central banks and all of them are expected to cut interest rates. Brace for some good action in currencies and equities in coming days . Good for equity and INR could also see gains (although capped as RBI may buy USD)
In another development, IMF said that USD is overvalued by about 12% and EUR, CNY are fairly valued. This statement from IMF gives Trump one more reason to talk down USD. We think, as a result, Gold looks clear winner and is already showing signs of strength.
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We continue to suggest export hedging for long term.