Monday, 1 October 2018

Good Morning!

At least 800 people are confirmed to have died in Indonesia and the death toll is expected to rise sharply after the magnitude of 7.5 earthquake hit the country on Friday.
Brent Crude oil prices are trading at a four year high boosted by the looming sanctions against Iran.
Foreign Portfolio Investors have withdrawn more than over INR 21,000 Cr during the month of September from local Equity and Debt markets, the highest in last four months.
China is expected to cut import tariffs on textile and metals to promote the balanced development of foreign trade and promote a high level of opening up to the outside world.
shares of Tesla lost around 14% after US regulators sued CEO Elon Musk in a fraud complaint that seeks to remove him as CEO. US Equities ended flat on Friday pulled by news of Tesla and Facebook.
Asian Equities were seen trading mixed this morning and SGX Nifty is also indicating a flat start to the local bourses. Indian Rupee is likely to open near 72.70 a dollar and is expected to trade between 72.45 – 72.95 range for the day

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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.