Wednesday, 10 October 2018

Good Morning!

Wall Street ended slightly lower yesterday as investors, worried about global growth prospects, fled from materials and industrials stocks. The decline was limited and the U.S. indices borrowed support from the falling treasury yields that have put the Dollar under pressure. The Dollar slipped further from seven-week highs today while sterling saw a little relief on hopes Britain and the European Union might be close to a Brexit deal.
Asian equities steadied in early trade today after global stocks hit eight-week lows the yesterday on worries about global economic growth.
The Oil prices edged lower today after the IMF’s lower global growth forecasts but prices found support as Hurricane Michael churned toward Florida, causing the shutdown of nearly 40 percent of U.S. Gulf of Mexico crude output.
The Indian unit is seen opening a little strong around 74.15 a dollar but is expected to remain volatile for the day playing the 73.85-74.45 range for the day.

Regards
Karvy Forex

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