Monday, 23 July 2018

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.

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.