Thursday, 19 July 2018

Good Morning!

Dollar Index held higher against the basket of currencies supported by positive comments from Fed chair Jerome Powell during his congressional testimony. He has affirmed that US economy is on course for years of more steady growth but cited escalating trade conflict as a near-term threat. Back home, Lok Sabha Speaker Sumitra Mahajan accepted the notice for no-confidence motion against BJP government and will be debated tomorrow. Crude Oil Prices moved higher yesterday on account of Profit booking, concerns of increased production from OPEC and Russia still persists. Dow and S&P 500 ended higher yesterday, while the tech-heavy Nasdaq closed flat. Asian stocks were seen opening flat to positive this morning and SGX Nifty is also indicating a positive start to the local bourses. Indian Rupee is likely to open near 68.70 and is expected to trade between 68. 50 – 68.80 range for the day.

Karvy Forex.

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