Wednesday, 25 July 2018

Good Morning!

The IMF has cautioned India should not rely on the global financial market to fill the gap of its Current Account Deficit (CAD). India’s CAD has widened to 1.9% of GDP in 2017-18 from 0.7% in the previous year and is expected to reach 2.5%. President Trump said he is ready to drop all Tariffs, Barriers, Subsidies on E.U, if they do the same to U.S. Crude oil prices jumped after API reports a draw of 3.16 mln barrels of U.S crude oil inventories for the week ended July 21. The American equities have closed mixed yesterday followed by a positive close in European. The early raiser Asian Equities were also seen trading mixed. Indian Rupee is likely to open near 68.92 a dollar and is expected to trade between 68.75 – 69.10 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.