Good Morning!

Global Markets trading cautiously as Trump is set to meet Chinese President Xi on the sidelines of the G20 summit in Argentina, but he denied to meet Putin due to tensions over Russia forces opening fire on Ukrainian navy boats and seizing them. Dollar index trading steadily as FOMC meeting minutes suggest that although, Fed is likely to increase interest rates by 25 bps in December meeting, but further rate hike decisions will be data dependent. Oil prices are back again above $50.00 currently trading at $51.61 as OPEC and Russian to agree on production cuts next week, but swelling US inventories would keep the pressure on prices. Wall Street trading marginally lower weighed down by Tech and Bank stocks, Asian equities trading mixed ahead of the summit. Indian Rupee is likely to open near 69.65 a dollar and is expected to trade between 69.45 to 70.00 range for the day.
 
Regards,
Karvy Forex
www.karvyforex.com

Good Morning!

Trade-related headlines are likely to drive investor sentiment this week, as investors look ahead to a meeting between U.S. President Trump and China President Xi Jinping on the sidelines of the G20 summit in Argentina.
In Europe, Brexit headlines will be in focus after European Union leaders endorsed Theresa May's Brexit plans yesterday, setting up a showdown with lawmakers in her own country.
Global financial markets will also pay close attention to comments from a handful of Fed officials, including Chair Powell, for additional insight into the outlook for monetary policy in the months ahead.
On the data front, there is important third-quarter U.S. growth data this week, which should lend further support to the notion that the economy is on solid footing.
Asian shares edged higher today, though investors were cautious as plunging oil prices fanned worries about a dimming outlook for the global economy.
Oil prices steadied today after plunging nearly 8 percent in the previous session, but remain under pressure with Brent crude below $60 per barrel amid weak fundamentals and struggling financial markets.
The dollar index rose today, as investors sought shelter in safe haven currencies as fears of a global growth slowdown and U.S.-Sino trade tensions sapped risk appetite.
The Indian Unit, however, is seen opening strong against the Dollar at 70.40 today and is expected to play the 70.00-70.80 range for the day.

Regards
Karvy Forex