Thursday, 8 March 2018

Good Morning!

US markets ended on a negative note on Wednesday as investors worried that US President Donald Trump would deliver on his threat to impose steep import.

The dollar index fell marginally against a basket of currencies, while Euro remains near 1.24 and pound near 1.39, the dollar had weakened sharply following the resignation on Tuesday of Gary Cohn, the top economic advisor to the White House who was seen as seen as a bulwark against protectionism in the Trump administration.

Dollar-rupee is expected to open near 64.94 against previous closing of 64.88 and likely to trade within a range of 64.75-65.05 with equities market driving the pair for the day.

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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.