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.

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Volume and Open Interest suggesting an accumulation in USDINR

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