Thursday, 16 August 2018

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.

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.