Commenting on the current market situation, Amar Ambani, Head of Research, IIFL said, “A data heavy week will get underway next week with investors reacting to IIP data for the month of October on Monday. Moreover, export-Import data for November, CPI and WPI for November will also be announced next week. The focus will shift towards the key US FOMC policy meeting next week, wherein Fed Forward rate curves suggest 83% probability of 25 basis points move on the rates. Although a hike In December is a done deal, the language of the policy will be crucial in determining the short term trend.”
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