FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
Latest release from Markit economics show that February’s bounce back in manufacturing sector not only continued in March but strengthened to eight month’s high, raising hopes for ‘Make in India’, a vision by India’s Prime Minister Narenda Modi to make India an important infrastructure hub and bring manufacturing’s contribution to GDP close to quarter of a percent by next decade.
According to latest report,
- Increase in new business has been key driver behind the latest improvements. New order growth has hit eight month high. Headline improved to eight month high of 52.4 from 51.1 in February.
- Production growth has reached fastest pace since August 2015, thanks to strong inflow of new businesses. Export orders rose and order books rose for third consecutive month.
- However, employment didn’t increase much due to remaining spare capacity in the sector.
Reserve Bank of India (RBI), which will announce policy decision tomorrow is likely to cut rates further to strengthen recovery in the sector.
With strong improvements and further accommodations in the card, we expect Indian assets, including Rupee to outperform the broader market.
Rupee is currently trading at 66.12, up 0.35% against Dollar today. Nifty is up 0.25%.
