Monday, 7 May 2018

Good Morning!

The Trump administration placed several conditions, including protection of American technology and intellectual property and reducing the two nation’s trade deficit by at least $200 billion by 2020, in front of its Chinese counterparts in a meeting held last week.
Friday's U.S. jobs report showed unemployment dropping to a new cycle low of 3.9 percent yet wages remained benign, suggesting the FED would keep raising rates but at a gradual pace.
Asian stocks were mixed in morning trade today as traders dismissed the biggest advance in U.S. shares in almost four weeks.
The dollar index stayed near its 2018 peak early today after U.S. jobs and wages data did little to weaken perceptions of strength in the U.S. economy, though renewed concerns about trade frictions could bring worries to the outlook.
The Indian unit is seen opening at 66.81 a dollar and is expected to play the 66.65-66.95 range for the day.

Karvy Forex

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