Wednesday, 24 January 2018

Good Morning!

Asian market trading on mixed on Wednesday, after strong corporate earnings and optimism on global growth, outweighed concerns over trade tensions, the S&P 500 has reached a streak of 396 trading days without a 5-percent correction
The U.S. dollar index, which measures the greenbacks slipped to fresh three years low against its peers after stronger Eurozone better than expected data, while pound climbs above 1.40 levels, with market participant would be focusing on Service PMI and existing home sales data from the US

Dollar-rupee expected to open flat near 63.75 against the previous closing of 63.77 and expected to trade in a range of 63.55-63.95 for the day, with equities markets and DXY likely to drive the pair. 

Volume and Open Interest suggesting an accumulation in USDINR

USDINR futures prices were seen consolidating while  volumes  and OI were seen increasing suggesting accumulation.