EPIC RESEARCH MCX NICKEL UPDATE OF 26 JUNE 2018

Nickel trading range for the day is 975.3-1049.3. Nickel dropped on profit booking with pressure from escalating trade tensions between the United States. China’s central bank said it would cut the amount of cash that some banks must hold as reserves by 50 basis points (bps), releasing $108 billion in liquidity. Fears of a full-blown trade war with Washington had magnified concerns about the outlook following weaker-than-expected growth data for May.

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