Good Morning!


Crude oil prices moved higher by more than 2% yesterday boosted by expectations of tighter supply. Chinas official PMI fell more than expected in July heightened the concerns about trade war. NASDAQ composite index posted its third consecutive loss of more than 1 % for the first time in three years after hitting a record high. Asian shares were seen trading lower followed by a week close in U.S equities and the attention is now shifted towards the Bank of Japan. Indian Rupee is likely to open near 68.70 and is expected to trade between 68.50 to 68.85 range for the day.

Regards,
Karvy Forex.
WWW.karvyforex.com

Good Morning!


U.S Treasury Secretary Steven Mnuchin said that he believes there will be a sustained 3% growth in the U.S economy at least for four to five years. The U.S economy grew at its fastest pace in nearly four years in the second quarter at a 4.1% rate as consumers boosted spending. Crude oil prices are moving higher but trading just under crucial $75 Brent on the back of investors’ expectations of increased demand. Early raiser Asian Equities were seen trading in Red and SGX Nifty is also indicating a muted start to the local bourses. Indian Rupee is likely to open near 68.66 and is expected to trade between 68.50- 68.85 range for the day.

Regards,
Karvy Forex.
WWW.karvyforex.com

Good Morning!


The IMF has cautioned India should not rely on the global financial market to fill the gap of its Current Account Deficit (CAD). India’s CAD has widened to 1.9% of GDP in 2017-18 from 0.7% in the previous year and is expected to reach 2.5%. President Trump said he is ready to drop all Tariffs, Barriers, Subsidies on E.U, if they do the same to U.S. Crude oil prices jumped after API reports a draw of 3.16 mln barrels of U.S crude oil inventories for the week ended July 21. The American equities have closed mixed yesterday followed by a positive close in European. The early raiser Asian Equities were also seen trading mixed. Indian Rupee is likely to open near 68.92 a dollar and is expected to trade between 68.75 – 69.10 range for the day.

Regards,
Karvy Forex.
WWW.karvyforex.com

Good Morning!


U.S Treasury Secretary Steven Mnuchin highlighted the risk from heightened trade and geopolitical tensions at a G20 meeting. IMF Chief Christian Lagarde also issued a sharp warning about the impact Donald Trump tariffs could have a global economic growth, said these actions could the global GDP by 0.5%. President Trump renewed his threat to slap a total of $500 Billion of imports from China - roughly equal to all the goods Beijing ships to U.S. Concerns of oversupply and lower demand has reduced the crude oil prices. European U.S equities ended lower on Friday and Asian Equities were also seen trading lower this morning. Indian Rupee is likely to open near 68.71 a dollar and is expected to trade between 68.60 – 69.00 range for the day.


Regards,
Karvy Forex.

Good Morning!


Dollar Index held higher against the basket of currencies supported by positive comments from Fed chair Jerome Powell during his congressional testimony. He has affirmed that US economy is on course for years of more steady growth but cited escalating trade conflict as a near-term threat. Back home, Lok Sabha Speaker Sumitra Mahajan accepted the notice for no-confidence motion against BJP government and will be debated tomorrow. Crude Oil Prices moved higher yesterday on account of Profit booking, concerns of increased production from OPEC and Russia still persists. Dow and S&P 500 ended higher yesterday, while the tech-heavy Nasdaq closed flat. Asian stocks were seen opening flat to positive this morning and SGX Nifty is also indicating a positive start to the local bourses. Indian Rupee is likely to open near 68.70 and is expected to trade between 68. 50 – 68.80 range for the day.

Regards,
Karvy Forex.

Good Morning!

Wallstreet ended positive as top technology stocks hit record highs and industrials rebounded from losses driven by trade worries the day before, while Asian Market are trading in the green taking cues from American markets.
Dollar held steady against majors while USDJPY hitting new six months high on Friday as greenback was supported in part by a report of U.S. consumer prices on Thursday which showed a steady build-up of inflation pressure
Dollar-rupee is expected to open negative near 68.35 levels and expected to trade in a range of 68.60 on the higher side and 68.20 on the lower side.

Regards,
Karvy Forex

Good Morning!

Oil prices fell sharply on news that Libya was suddenly set to restore hundreds of thousands of barrels per day. Brent sank more than 6 percent during the trade as Libya’s National Oil Corp. (NOC) said that it would lift the force majeure on several major export terminals and resume shipments of oil. U.S stocks slid on escalated trade war tensions after US threatened to impose tariffs on an additional $200 Bln worth of Chinese goods. Early raiser Asian stocks rose despite lingering concerns around the US and Chinese trade war. SGX Nifty is also indicating a positive start to the Indian Bourses. Indian Rupee is likely to open near 68.70 and is expected to trade between 68.55 – 68.85 range for the day.

Regards,
Karvy Forex.

Good Morning!

The Trump administration plans to publish a list of 'new' tariffs that are to be imposed on 200 billion worth of Chinese goods.
These threats from the U.S. sent Asian equities lower today, with China's markets leading the declines, due to sharp escalation in the trade war between the world's two biggest economies worsened.
The S&P 500 rose yesterday to post its highest closing level since February 1, the day before the market began a sharp extended selloff, on optimism about the earnings season.
Oil prices fell after the United States said it would consider requests from some countries to be exempted from sanctions it will put into effect in November that prevents Iran from exporting oil.
The Dollar index is seen gaining strength again and USDINR set to6 open around 68.75 with expectations to play the 68.50-68.90 range today.

Regards
Karvy Forex

Good Morning!

Expectations of a strong quarterly earnings season boost banking, energy and industrial shares in the U.S. followed by Asian equities that sought to rally for a third session today.
Oil prices were pushed higher yesterday by increased global demand and U.S. efforts to shut out Iranian output using sanctions.
The British pound was frail on Tuesday after the departure of two key euroskeptic ministers raised worries about a "hard Brexit.
The Dollar Index rebounded from session lows yesterday, supported by a sharp reversal in sterling after UK Foreign Secretary Boris Johnson resigned from the government, raising the risk of a vote of no confidence in Prime Minister Theresa May's leadership.
The Indian Unit is seen opening at 68.71 a Dollar and is expected to play the 68.50-68.90 range for the day.

Regards
Karvy Forex

Good Morning!

Traders will keep an eye on the trade tensions as China and the U.S. exchanged tariffs last week. The U.S. tariffs on $34 billion worth of Chinese goods came into effect on Friday.
Two key members of Theresa May government quit in protest at her plans for a soft exit from the European Union, Sterling Pound retreats.
Asian stocks rose in morning trade today as the U.S. reported stronger-than-expected job data.
A rise in Non-farm payrolls had a little impact on currencies. The Dollar index continues to bear the pressure trading close to 3-1/2-week lows after the slower-than-expected wages growth seen in Friday’s U.S. Jobs data.
The Indian Unit is seen opening stronger against the Dollar today at 68.56 with expectations to play the 68.45-68.85 range for the day.

Regards
Karvy Forex

The United States is due to begin collecting tariffs on $34 billion in Chinese goods today. Focus has shifted to how China will retaliate.

Trump also threatened to impose additional tariffs more than $500 Billion if China retaliates to his earlier decision.

BOE Governor Mark Carney said he was confident an economic slowdown was temporary, but the rise faded on nervousness before Friday's government meeting on Brexit policy.

Early raisers Asian equities were seen trading lower and SGX Nifty is also a negative start to the local bourses.

Indian Rupee is expected to open neat 68.86 and is likely to trade between 68.68- 69 range for the day.

European markets slipped sharply yesterday amid comments from Germany’s interior minister Seehofer says “Merkel is only chancellor because of me. Late night news also has confirmed that Seehofer – Merkel reached an agreement on migration which would give a relief rally today.

In another news trump moves to block china mobiles entry in to US citing national security, Chinese mobile shares drop to their lowest levels in more than four years.

White house announced that U.S secretary of State Mike Pompeo will visit N.Korea on Thursday, his visit got importance where several private agencies reported N. Korea secretly building nuclear weapons.

U.S Equities ended higher marginally after dropping in the early session. Asian stocks were largely in red with Hang Seng dropping by more than 3%.

Indian Rupee expected to trade between 68.65 – 69.05 ranges for the day. 

• Oil prices fell by more than one percent as investors eyed rising supplies in Saudi , while Trump kept up the pressure on the world's top producer to make up for disruptions.

• Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on close U.S. allies with a threat to sanction European companies that do business with Iran.

• Dollar index is adding gains after slipping sharply late last week.
• Asian shares remain subdued with SGX Nifty showing a flat opening for Indian Bourses.

• India Rupee is likely to open near 68.50 and is expected to trade between 68.30 – 68.70 range for the day.