Friday, 26 October 2018

Good Morning!

It was a day for bargain hunters on the Wall Street yesterday, as the equity markets found ground after technology shares reported upbeat earnings. However today, Asian equities still struggled to recover from the continued downfall as concerns over world trade and economic growth still persist.
Oil prices eased today and were seen heading for a third weekly loss after Saudi Arabia's OPEC governor said the market could be heading into oversupply, as growth concerns took a hit with a slump in global equities this week.
The dollar traded in tight ranges against most of its peers today as investors stayed away from riskier assets, while the euro stayed near two-month lows after the ECB failed to convince markets that rates would rise.
The Indian Unit is seen opening gap down against the dollar at 73.44 and is expected to play the 73.20-73.70 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.