Tuesday, 31 July 2018

Good Morning!

Crude oil prices moved higher by more than 2% yesterday boosted by expectations of tighter supply. Chinas official PMI fell more than expected in July heightened the concerns about trade war. NASDAQ composite index posted its third consecutive loss of more than 1 % for the first time in three years after hitting a record high. Asian shares were seen trading lower followed by a week close in U.S equities and the attention is now shifted towards the Bank of Japan. Indian Rupee is likely to open near 68.70 and is expected to trade between 68.50 to 68.85 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.