Description:
In Today's session,we expect crude oil prices to trade on a mixed note on the back of ease of sanctions on Iran. Further, expectations of rise in US crude oil inventories will add downside pressure on oil prices. However, sharp downside in prices will be cushioned or reversal can be seen as a result of upbeat market sentiments coupled with weakness in the DX. Additionally, unfavorable economic data from the US in yesterday’s trade led to expectations of delay in QE tapering by the Federal Reserve will restrict downside movement in prices. In the Indian markets, Rupee appreciation will add downside pressure on prices.
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