Thursday, 10 May 2018

Good Morning!

A recent run of weak UK economic data and renewed worries about Brexit have led markets to price out the possibility of a rate hike from the BOE today.
Wall Street surged yesterday, recording broad gains with high volumes where utilities & telecom drove the markets, followed by Asian equities today led by energy shares as crude oil prices bolted higher after U.S. President Donald Trump’s decision to pull out of a nuclear deal with Iran.
The dollar held firm today after the 10-year U.S. bond yield rose back to the psychologically important 3 percent mark and investors looked to U.S. consumer price data due later to show an acceleration in inflation.
The Rupee is seen opening at 67.33 a dollar and expected to play the 67.05-67.45 range for the day.

Karvy Forex

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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.