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Here s the breaking down of the pre-market actions:
State of Markets
Nifty futures on the Singapore Exchange traded 14 points, or 0.09 per cent, higher at 14,997 in signs that Dalal Street was headed for a positive start on Wednesday.
Tech View: Nifty hurdle at 20-DMA
Nifty50 on Tuesday climbed over 1 per cent and settled above the 14,900 mark. The index formed a bullish candle on the daily chart, with a long lower wick, suggesting that every intraday selling got bought into. Analysts said the 15,000 level will be a key hurdle for Nifty50 to watch out for.
Asian shares mixed in early trade
Asian shares were trading mostly mixed on Wednesday. Japan s Nikkei fell 0.18 per cent to 29,355.64.China s Shanghai Composite rose 0.42 per cent to 3,523.20. Hong Kong s Hang Seng climbed 1.13 per cent to 29,425. Korea s Kospi edged 0.3 per cent lower.
Mar 3, 2021 18:07 GMTFXStreet News
GBP/USD remains supported in the upper 1.3900s in wake of the unveiling of UK Finance Minister Sunak’s budget.
Markets seem to think the budget improves the economic outlook and money markets have seen hawkish BoE rate expectation repricing.
GBP/USD saw a pickup in volatility ahead of the 4pm London Fix, dropping to lows of the session in the 1.3920s only to then rebound into positive territory on the day in the 1.3980s. The pair is still a few pips off its European session highs of just above the 1.4000 mark, a level the bulls will likely be targeting, but has been holding up well, with GBP one of the best performing G10 currencies on the day.