Tuesday, 25 September 2018

• US indices cooled off yesterday after a new round of US-China trade tariffs kicked in that reduced last week's hopes for talks between the two countries. Expectations on further rate hike from the Fed also killed further prospects for US equities.
• Asian stocks struggled today as the latest round of US-China tariffs revived fears the trade dispute would knock global growth.

• Crude oil prices extended further near four-year highs after Saudi Arabia and Russia ruled out immediate production increases. U.S. sanctions against Iran also loom.

• The Dollar was largely steady against its major peers this morning as investors looked to policy clues from the U.S. Federal Reserve, but against the Indian Unit it is seen appreciating further where it is set to open near 73 today and is expected to maintain strength throughout the day to further move up to 73.30.

Thursday, 6 September 2018

Good Morning!

Anxiety about a major escalation in the US-China trade conflict and the turmoil in emerging markets have led to a fragile investor confidence in global equities as well as in Asia where the stocks are down for the sixth straight day today. Nasdaq dipped for more than a percent as Facebook & Twitter executives defended their companies before skeptical U.S. lawmakers.
Oil Prices inch lower after API reports a minor draw of 1.17 million barrels of inventory for the week ending September 1.
The dollar index moved lower after a sharp bounce in Pound as news of UK and Germany were prepared to drop key Brexit demands. Albeit, news driven volatility pulled the dollar lower, the dollar index is likely to stay tall.
The Indian Unit hit 72 a dollar but quickly retreated after a suspected RBI intervention and mild profit booking at psychological level. Rupee is expected to play the 71.40-71.80 range for the day.

Regards
Karvy Forex

Monday, 3 September 2018

Good Morning!


President Donald Trump issued a new threat to terminate NAFTA agreement altogether, he also warned Congress not to intervene in tough negotiations that may or may not include Canada in a new accord. In another news Prime Minister Theresa May said she would not allow compromises to her Brexit strategy that went against the national interest, seeking to allay fears among some in her Conservative Party that she will cave into Brussels’ demands in negotiations. The EU chief Brexit negotiator Michel Barnier has said he is strongly opposed to key parts of Theresa May’s proposals for a future trade deal. European markets were pulled down by more than a percent followed by comments of policymakers over Brexit negotiations. Crude prices trading marginally lower amid rising supply from OPEC and US, but holding to its previous gains supported by the expectations of falling Iranian output once US sanctions bite output from November. Asian Equities were seen trading lower and SGX Nifty is indicating a positive start in the local bourses. Indian Rupee is likely to open near 70.80 a dollar and is likely to trade between 70.50 to 71.00 range for the day.

Regards,
Karvy Forex.
www.karvyforex.com

Friday, 31 August 2018

Good Morning!


Indian Rupee fell to its new lifetime low yesterday followed by Indonesia’s Rupiah which slid to a two-decade low and other Asian Currencies making new lows. Worries over large imports payments in India amid higher crude prices and countries Short-term external debt maturing in the coming months is pulling the Rupee lower. Countries with high Current Account Deficits were hit to their lowest levels as the US economy continued to grow robustly and Fed is on course to further raise rates. President Trump said to back tariffs on $200 Billion worth of Chinese imports into the US. Global Equities were broadly trading negative as investors remained cautious about the US – Canada trade deals and fresh US tariffs on Chinese goods. Indian Rupee is likely to open weaker near 71.10 and is expected to trade between 70.85 to 71.35 range for the day.

Regards,
Karvy Forex.
www.karvyforex.com

Wednesday, 29 August 2018

Good Morning!


The US and Mexico agreed to overhaul the NAFTA, pressuring Canada to agree to new auto trade and dispute settlement rules to remain part of the three-nation pact. BOJ board member Hitoshi Suzuki said on Wednesday central bankers need to pay even more attention to impact that monetary policy has on the bond market. Global Equities and Dollar index trading muted as market participants awaiting for trade deal outcomes between China and US as the deadline for additional tariffs comes closer. US Treasury secretary Steven Mnuchin praised China for supporting the Yuan, he also added that if China go in and support their currency that is not currency manipulation.  Oil Prices moved lower after API reported a surprise Oil inventory buildup of 38,000 Barrels of US crude oil inventories for the week ending 25 August. Indian Rupee likely to open near 70.34 a dollar and is likely to trade between 70.15 – 70.60 range for the day.

Regards,
Karvy Forex.
www.karvyforex.com

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.

Regards,
Karvy Forex.
www.karvyforex.com

Thursday, 23 August 2018

Good Morning!

The U.S. indices closed mixed yesterday and Asian equities started cautiously today as the deadline for fresh US tariffs on China comes closer.
Speculations that US President Trump’s political position could be threatened by the legal woes of two former advisers also kept the markets in check.
There are no signs that the new round of tariffs would be halted as the low-level discussions between US & Chinese officials started for the first time in over 2 months.
U.S. oil edged up on today extending gains from the previous session, lifted by a decline in U.S. commercial crude inventories, while international crude is weaker due to the Sino-US trade dispute.
The U.S. dollar broadly rose against the euro and other currencies after minutes of the Fed's latest policy meeting suggested it is on course to further raise interest rates.
The Indian Rupee is seen bearing the effect of a strong dollar to open near 70 and expected to trade weaker between 69.80-70.40 for the day.

Regards
Karvy Forex

Tuesday, 21 August 2018

Good morning!

US President Donald Trump said he was not thrilled with Jerome Powell for raising rates.He also added as long as the US economy is okay,  there's no reason for fed to stop raising interest rates. Market participants are closely monitoring the developments over anticipated US -china trade talks. US stocks ended higher yesterday and the early raiser Asian equities were seen trading mixed. Oil prices edged up yesterday as expectations of US sanctions on Iran would cut the global supply. Indian rupee is likely to open near 69.68 a dollar and is expected to trade between 69.45 - 69.85 range for the day.

Regards,
Karvy Forex
www.karvyforex.com

Thursday, 16 August 2018

Good morning!

The plague of Turkey's recession has spread across the globe dragging global equities, treasuries and commodities. Fire started in copper spread across all Global commodities melting down by more than 2%. Crude oil prices also dropped lower amid a surprise increase in US crude stocks. US Dollar index was seen trading marginally lower as bargain hunting lifted Euro and GBP. US and European shares ended lower by 1.5% to 2.00% yesterday. Asian shares were also seen largely trading in red. SGX Nifty is also indicating a negative opening in the local bourses. India rupee is likely to open at all time low at 70.25 and is expected to trade between 69.90 to 70.40 range for the day.

Regards,
Karvy Forex.
www.karvyforex.com

Friday, 10 August 2018

Good Morning!


N. Korea said, “if Trump administration adheres to old scenarios it cannot expect any progress on denuclearization”. It also pointed out that some senior U.S administration officials engaged in sanctions and pressure campaign against N. Korea added fuel to the ongoing trade tensions. Outgoing BOE Monetary Policy Committee member Ian McCafferty said that interest rate will stay low for at least another 20 years.  He also cautioned that uncertainty caused by Brexit had affected business far more than consumers and was causing investment to be weaker than otherwise would be the case. His comment moved the sterling lower overnight. Dollar Index stood tall and closed at a 13 month high. U.S 10 year yields moved lower yesterday on the back of weaker than expected U.S inflation data. U.S stocks ended lower yesterday, but the tech NASDAQ closed marginally higher.
Asian Equities were seen trading lower and SGX Nifty is indicating a muted start to the local bourses. Indian Rupee is likely to open near 68.83 a dollar and is expected to trade between 68.65 – 69.05 range for the day.
   
Regards,
Karvy Forex.
WWW.karvyforex.com

Wednesday, 8 August 2018

Good Morning!

U.S president Donald Trump said “U.S GDP could be in fives in next quarter. He also said over $5trillion will be brought back by companies. BOE MPC member Ian McCafffery says a couple of rate hikes by market participants from BOE is reasonable. Dollar Index retreated marginally yesterday on account of profit booking in Euro and GBP. Crude prices moved higher yesterday as investors increased on supply concerns after the latest U.S sanctions on Iran. Asian markets are trading largely in green and SGX nifty is indicating a muted start in the local bourses. Indian Rupee is likely to open near 68.65 a dollar and is expected to trade between 68.45 – 68.85 range for the day.

Regards,
Karvy Forex.
www.karvyforex.com

• US indices cooled off yesterday after a new round of US-China trade tariffs kicked in that reduced last week's hopes for talks betwee...