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.

Karvy Forex

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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.