Monday, 30 July 2018

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.

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.