RBI repo rate decision: Annual Monetary and Credit Policy Statment
The markets are expecting a reduction in indicative policy rates (repo rate) along with a cut in Cash Reserve Ratio (CRR) when the Reserve Bank of India. It is really a good news for Indian economy.
With this it is expected to see sudden change in USDINR pair, 20-25 paisa down around 11.00am.
So it is recommended to trade with less lot size/ less risk. Once the market found direction after 11.00am, you can enter along the direction of market.
Please don’t keep your trade open over weekend?
As international market news – will affect the USD & EUR Value drastically. The EUR & USD this month direction will be decided after NFP & FOMC news mentioned below. Look for these data & trade accordingly from Monday on-wards.