Morning BriefingEuro (1.0900) has achieved our immediate downside target of 1.0900 after the ECB signal that the stimulus may continue after the Mar’17 deadline. As the bearish momentum doesn’t show any signs of slowing down yet, the deeper levels of 1.0820-1.0780 come into consideration now. The German-US 2Yr (-1.50%) has come off sharply from resistance levels as expected and could continue falling in the near term. The spread has been giving a good indication of the Euro falling in the near term Euro has fallen and is trading near 1.09. If the spread extends its fall, Euro might see lower levels of probably 1.08 in the coming sessions.
We are privileged to be associated with Kshitij as our Forex Advisor. Their valuable advice has helped Marico to redefine its forex management policies. We look forward to a long and rewarding association with them.