Tuesday, 10 July 2018

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.

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.