Wednesday, 13 June 2018

      Good morning!

      As projected by RBI previous week India’s CPI went up by 4.87% (YoY) in May from 4.58% in April. Elsewhere prices in US also grew up by 2.2% (YoY) in May from 2.1% above the central bank target of 2%. The dollar index edged higher on the back of strong CPI numbers. Asian equities were seen trading in different directions where Nikkei & Taiwan towards the north and Straits & Hang Seng towards the south. “Hope a new bright future” are the words from President Trump after wrapping up his five-hour denuclearization meeting with Kim. Investors are waiting for FOMC statement today late evening with a 25 BPS hike globally expected. Indian Rupee is likely to open near 67.60 and is likely to trade between 67.40 - 67.80 a dollar range for the day.

Tuesday, 12 June 2018

Good Morning!

The Dollar index edged higher as investors expecting a positive outcome from Trump - Kim meeting as Trump told Kim "we will have a terrific relationship" amid handshakes.

IMF chief Christine Lagarde warns that "clouds over the global economy are getting darker by the day" pointing out Donald Trump’s America First trade policy.
Oil prices were little changed after Iraq’s Oil Minister said producers should not over exaggerate and "prices still require support and stability".
U.S 10 year Treasury yields missed to bounce above 3% once again.

Indian Rupee is expected to open near 67.45 a dollar and is expected to trade between 67.25 – 67.65 a dollar for the day.

Monday, 11 June 2018

Good Morning!

Asian equities shook off initial modest losses and edged up today ahead of a U.S.-North Korea summit that might ease regional tensions, while investors also start on to watch key central bank meetings later this week.
With the U.S. Federal Reserve almost unanimously expected to raise interest rates for the second time this year, market focus is on the Fed's projection on the future path of interest rates.
The Dollar index trades close to 93.50.
The Indian Rupee is seen as an opening at 67.48 a dollar and is expected to play the 67.35-67.85 range for the day.

Regards
Karvy Forex

Thursday, 7 June 2018

Good Morning!

RBI gives a rate hike of 25bps from 6% to 6.25% while it maintains the policy stand Neutral.
Trade war fears take a back seat. Wall Street Indices rallied yesterday supported by financial stocks as investors eyed strong economic data. Nasdaq gives a third consecutive close at record highs.
Asian equities rise to 2 1/2 –month high today supported by strong economic fundamentals.
Euro rises on expectations that the ECB could start rolling back its stimulus program by year-end, putting the Dollar under pressure. DXY continues to move down.
The Indian Rupee is seen opening at 66.92 a dollar and expected to cautiously play the 66.80-67.10 range for the day.

Regards
Karvy Forex

Friday, 1 June 2018

Good Morning!

Indian retains its spot as world’s fastest growing major economy after growing 7.7% in the January – March quarter highest in last seven quarters.
Bank of Japan decides to cut down its 5 – 10 year bond purchases from 450 Bln Yen to 430 Bln Yen.
U.S President Donald Trump decided to impose tariffs on imports aluminum and steel from Canada and Mexico.
Euro is set for a positive close for the first time in six weeks after Italy’s president has given Prime minister designate Conte an approval to form government.
Asian equities were seen trading higher this morning.
Indian rupee is expected to open near 67.44 a dollar and USDINR is likely to trade between 67.65 – 67.25 with slight dips initially followed by pullbacks.

Regards
Karvy Forex

Thursday, 31 May 2018

Good Morning !

• Euro bounced back from its 10 month low, after the fresh positive comments from the prime minister designate Carlo Cottarelli.

• Two year Italian bond yields had recovered almost 1% to 1.75% from 2.75% yesterday.

• The dollar Index slipped after a sharp bounce back in Euro and GBP, but trading above 94 mark.

• Tracking the global cues Asian equities were seen trading in green this morning.

• Indian Rupee is likely to open near 67.43 a dollar and is expected to trade between 67.25-67.65 with slight dips initially followed by mild pullbacks.

Friday, 25 May 2018

Good Morning!

U.S President Donald Trump said it is inappropriate at this time to have planned North Korea summit calling off his June 12 meeting with Kim Jong-Un.
In response N. Korean vice Foreign ministry says they were surprised with the cancellation and they remain willing to meet U.S at any time
Asian equities were seen trading lower on the back of fresh comments from US and N. Korea
U.S 10 year yields trading below 3% mark after falling sharply to 2.95% levels yesterday.
Crude oil prices trading lower after a fresh statement on increasing supply from Russia.
India unit is seen opening near 68.28 a dollar and is likely to trade within a range of 68.40 on the lower side and 68.10 on the higher side.

Regards,
Karvy Forex

Thursday, 24 May 2018

Good Morning!

Geopolitical tensions once again made their place on the headlines today. Trump administration considering plans to impose up to 25% in new tariffs on imported vehicles.
China’s Commerce Ministry said on Thursday that it had not pledged to cut the country’s trade surplus with the U.S be a certain figure.
U.S 10 year treasury yields extended its correction and seen quoting below crucial 3% today morning.
Crude oil prices were also seen trading just below crucial $80 mark on Brent.
The Indian Rupee is likely to open near 68.30 and is expected to trade between 68.40 - 68.15 range for the day.

Wednesday, 23 May 2018

Good Morning!

U.S. President Donald Trump suggested, that his planned meeting with North Korean leader Kim Jong-un may not happen on June 12.
Chinas technology giant ZTE Corp. said to face at least $3.1 Bln in losses from US ban. Asian shares were seen trading lower on the back of comments from Trump and ZTE.
Brent Crude oil retreated from $80 but remains within the sight of 3 ½ year highs. U.S 10 year Treasury yields is seen trading lower at 3.05%.
Indian Rupee is likely to open near 68.18 and expected to trade within a range of 68 – 68.35 a dollar.

Regards,
Karvy Forex.

Tuesday, 22 May 2018

Good Morning!

Crude Oil prices held steady on concerns that Venezuela crude output may drop further following a disputed presidential election and possible U.S sanctions.
Dollar index trading just below its five month high on the back of pullback in U.S 10 year treasury yields from seven year highs. Asian equities were seen trading in flat to positive range this morning.
Uncertainty continued in Italy, as Italy’s far-right League and the 5-Star Movement agreed on a candidate to lead their planned coalition government.
Indian Rupee is seen opening near 68.05 a dollar and is expected to trade in a range between 67.90 -68.25 a dollar for the day.

Regards,
Karvy Forex

Friday, 18 May 2018

Good Morning!

U.S. President Trump said China "has become very spoiled on trade,".
Japan reported CPI data that missed expectation and failed to meet its 2% inflation target again, sending the yen lower.
Escalating trade tensions and rising oil prices kept investors grappled, thus leading to a choppy trading session on the Wall Street that ended lower.
Asian equities edged up today as investors kept a cautious watch on developments in US-China trade negotiations.
The dollar index hovered near five-month highs well above the 93 level in Asia today morning, after climbing to this year’s fresh high at 93.46 overnight.
The Indian Rupee is seen opening at 67.84 a dollar and is expected to trade weaker approaching 68 again.

Regards
Karvy Forex

      Good morning!       As projected by RBI previous week India’s CPI went up by 4.87% (YoY) in May from 4.58% in April. Elsewhere p...