Wednesday, 8 August 2018

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.

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.