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Indian Rupee fell to its new lifetime low yesterday followed by Indonesia’s Rupiah which slid to a two-decade low and other Asian Currencies making new lows. Worries over large imports payments in India amid higher crude prices and countries Short-term external debt maturing in the coming months is pulling the Rupee lower. Countries with high Current Account Deficits were hit to their lowest levels as the US economy continued to grow robustly and Fed is on course to further raise rates. President Trump said to back tariffs on $200 Billion worth of Chinese imports into the US. Global Equities were broadly trading negative as investors remained cautious about the US – Canada trade deals and fresh US tariffs on Chinese goods. Indian Rupee is likely to open weaker near 71.10 and is expected to trade between 70.85 to 71.35 range for the day.

Regards,
Karvy Forex.
www.karvyforex.com

Good Morning!


The US and Mexico agreed to overhaul the NAFTA, pressuring Canada to agree to new auto trade and dispute settlement rules to remain part of the three-nation pact. BOJ board member Hitoshi Suzuki said on Wednesday central bankers need to pay even more attention to impact that monetary policy has on the bond market. Global Equities and Dollar index trading muted as market participants awaiting for trade deal outcomes between China and US as the deadline for additional tariffs comes closer. US Treasury secretary Steven Mnuchin praised China for supporting the Yuan, he also added that if China go in and support their currency that is not currency manipulation.  Oil Prices moved lower after API reported a surprise Oil inventory buildup of 38,000 Barrels of US crude oil inventories for the week ending 25 August. Indian Rupee likely to open near 70.34 a dollar and is likely to trade between 70.15 – 70.60 range for the day.

Regards,
Karvy Forex.
www.karvyforex.com

Good Morning!


President Donald Trump has now targeted his weapon of Trade disputes towards Canada and Mexico. Trump decided to form a separate deal called the US-Mexico trade agreement getting rid of NAFTA. US 10 year yields also moved higher as President Trump was seen closing the trade agreement with neighboring countries. Oil prices edged higher as the risk of supply concerns from Iran and Venezuela continued to worry market participants. Early raiser Asian equities were seen trading positive this morning followed by the strong close in US and European markets, supported by positive trade’s deals between the US- Mexico- Canada. Indian Rupee likely to open near 70.05 and is expected to trade between 69.90 – 70.25 range for the day.

Regards,
Karvy Forex.
www.karvyforex.com

Good Morning!

The U.S. indices closed mixed yesterday and Asian equities started cautiously today as the deadline for fresh US tariffs on China comes closer.
Speculations that US President Trump’s political position could be threatened by the legal woes of two former advisers also kept the markets in check.
There are no signs that the new round of tariffs would be halted as the low-level discussions between US & Chinese officials started for the first time in over 2 months.
U.S. oil edged up on today extending gains from the previous session, lifted by a decline in U.S. commercial crude inventories, while international crude is weaker due to the Sino-US trade dispute.
The U.S. dollar broadly rose against the euro and other currencies after minutes of the Fed's latest policy meeting suggested it is on course to further raise interest rates.
The Indian Rupee is seen bearing the effect of a strong dollar to open near 70 and expected to trade weaker between 69.80-70.40 for the day.

Regards
Karvy Forex

Good morning!

US President Donald Trump said he was not thrilled with Jerome Powell for raising rates.He also added as long as the US economy is okay,  there's no reason for fed to stop raising interest rates. Market participants are closely monitoring the developments over anticipated US -china trade talks. US stocks ended higher yesterday and the early raiser Asian equities were seen trading mixed. Oil prices edged up yesterday as expectations of US sanctions on Iran would cut the global supply. Indian rupee is likely to open near 69.68 a dollar and is expected to trade between 69.45 - 69.85 range for the day.

Regards,
Karvy Forex
www.karvyforex.com

Good morning!

The plague of Turkey's recession has spread across the globe dragging global equities, treasuries and commodities. Fire started in copper spread across all Global commodities melting down by more than 2%. Crude oil prices also dropped lower amid a surprise increase in US crude stocks. US Dollar index was seen trading marginally lower as bargain hunting lifted Euro and GBP. US and European shares ended lower by 1.5% to 2.00% yesterday. Asian shares were also seen largely trading in red. SGX Nifty is also indicating a negative opening in the local bourses. India rupee is likely to open at all time low at 70.25 and is expected to trade between 69.90 to 70.40 range for the day.

Regards,
Karvy Forex.
www.karvyforex.com

Good Morning!


N. Korea said, “if Trump administration adheres to old scenarios it cannot expect any progress on denuclearization”. It also pointed out that some senior U.S administration officials engaged in sanctions and pressure campaign against N. Korea added fuel to the ongoing trade tensions. Outgoing BOE Monetary Policy Committee member Ian McCafferty said that interest rate will stay low for at least another 20 years.  He also cautioned that uncertainty caused by Brexit had affected business far more than consumers and was causing investment to be weaker than otherwise would be the case. His comment moved the sterling lower overnight. Dollar Index stood tall and closed at a 13 month high. U.S 10 year yields moved lower yesterday on the back of weaker than expected U.S inflation data. U.S stocks ended lower yesterday, but the tech NASDAQ closed marginally higher.
Asian Equities were seen trading lower and SGX Nifty is indicating a muted start to the local bourses. Indian Rupee is likely to open near 68.83 a dollar and is expected to trade between 68.65 – 69.05 range for the day.
   
Regards,
Karvy Forex.
WWW.karvyforex.com

Good Morning!

U.S president Donald Trump said “U.S GDP could be in fives in next quarter. He also said over $5trillion will be brought back by companies. BOE MPC member Ian McCafffery says a couple of rate hikes by market participants from BOE is reasonable. Dollar Index retreated marginally yesterday on account of profit booking in Euro and GBP. Crude prices moved higher yesterday as investors increased on supply concerns after the latest U.S sanctions on Iran. Asian markets are trading largely in green and SGX nifty is indicating a muted start in the local bourses. Indian Rupee is likely to open near 68.65 a dollar and is expected to trade between 68.45 – 68.85 range for the day.

Regards,
Karvy Forex.
www.karvyforex.com

Good Morning!


Bank of England Monetary Policy Committee voted unanimously to raise interest rates by 25 basis points to 0.75% yesterday. The Pound slipped sharply after the BOE statement “that the economic activity outlook could be influenced significantly by the response of household, Business and financial markets to developments related to the process of EU withdrawal” citing Brexit remains the biggest uncertainty lingering over the U.K economy. U.S Commerce Secretary Wilbur Ross said, “Trump believes additional tariffs are needed because China has refused to modify their behavior in response to an initial round of tariffs and other U.S economic sanctions”. His statement comes just a day after the Chinese Ministry of Commerce said “The carrot-and-stick” tactic won’t work and would not bend to U.S tariffs on Chinese imports. Asian Equities were seen trading mixed after a strong close in U.S markets. Indian Rupee is likely to open near 68.63 and is expected to trade between 68.50 – 68.85 range for the day. 

Regards,
Karvy Forex.
WWW.karvyforex.com