Wednesday, 7 February 2018

Good Morning!

US benchmark S&P 500 stock index closed more than 1.0 percent higher after a sharply volatile session on Tuesday, CBOE volatility index, widely considered a barometer of expected near-term volatility for S&P 500 closed lower.
Asian equities advanced on Wednesday opening retracing losses made in the last session following U.S indices.
Dollar gained against Yen but lagged against Euro following U.S equities surge
The Indian Rupee expected to open near 64.12 against previous closing of 64.24 and likely to trade volatile  as market participant would keep an eye on RBI policy schedule today with equities market & bond yield giving further direction in the pair,
Range -63.90-64.30

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Volume and Open Interest suggesting an accumulation in USDINR

USDINR futures prices were seen consolidating while  volumes  and OI were seen increasing suggesting accumulation.