In the US, the number of unemployed has come down to 45 years. The unemployment rate is at the lowest level of 17 years. In March, there are strong platforms to increase interest rates. In such a situation, it is decided to have action in the dollar. In such a situation, the rupee will collapse. What will be the impact of the currency on the commodity market? Will gold or slip crude?
There is a weakness of about 2.5 percent in this year. The rupee has reached 3 months lower than the dollar. This week the dollar has reached 65.10. In the US, interest rates are expected to increase next month. The dollar index is below the 3-year low level.
The dollar is getting support from US economic recovery. The number of unemployed in the US is the lowest in 45 years. The unemployment rate is at the lowest level of 17 years. The rates of the Fed meeting are expected to increase.
The prices in the domestic market have dropped nearly 1.5 percent this week. The biggest weekly fall of two and a half months. Despite weak rupees, gold is not getting support. There is a discount on gold in the domestic market. There is a decrease in demand for gold after the PNB scam.
Here, the pressure is also increasing in a supply of crude oil. The crude oil prices have dropped nearly 8 percent in one month while continuous pressure is seen from the upper level of 3 years. Daily production in the US has crossed 1 million barrels. Daily crude exports of US are over 20 million barrels. Prices on the dollar have also seen pressure on prices.
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