Wednesday, 20 June 2018

Good Morning,

U.S President Donald Trump threatened to impose a 10 percent tariff on another USD 200 billion of Chinese goods, and Beijing warned it would retaliate. US stocks fell on Tuesday as a sharp escalation in the trade dispute between the United States and China rattled markets and put the Dow Jones Industrial Average back in negative territory for the year. Trump said his move followed China's decision to raise tariffs on $50 billion in US goods, which came after the White House announced similar tariffs on Chinese goods on Friday. Stocks in Asia rebounded from recent losses on Wednesday as investors sought bargains, a day after the spectre of a US-China trade war drove down bond yields, and share and commodity prices. Brent crude fell 0.3 percent to $75.11 a barrel after rallying 2.5 percent overnight. Indian Rupee is likely to open at 68.20a dollar and is expected to trade between 68.00-68.50 range 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.