Tuesday, 28 August 2018

Good Morning!

President Donald Trump has now targeted his weapon of Trade disputes towards Canada and Mexico. Trump decided to form a separate deal called the US-Mexico trade agreement getting rid of NAFTA. US 10 year yields also moved higher as President Trump was seen closing the trade agreement with neighboring countries. Oil prices edged higher as the risk of supply concerns from Iran and Venezuela continued to worry market participants. Early raiser Asian equities were seen trading positive this morning followed by the strong close in US and European markets, supported by positive trade’s deals between the US- Mexico- Canada. Indian Rupee likely to open near 70.05 and is expected to trade between 69.90 – 70.25 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.