Friday, 30 November 2018

Good Morning!

Global Markets trading cautiously as Trump is set to meet Chinese President Xi on the sidelines of the G20 summit in Argentina, but he denied to meet Putin due to tensions over Russia forces opening fire on Ukrainian navy boats and seizing them. Dollar index trading steadily as FOMC meeting minutes suggest that although, Fed is likely to increase interest rates by 25 bps in December meeting, but further rate hike decisions will be data dependent. Oil prices are back again above $50.00 currently trading at $51.61 as OPEC and Russian to agree on production cuts next week, but swelling US inventories would keep the pressure on prices. Wall Street trading marginally lower weighed down by Tech and Bank stocks, Asian equities trading mixed ahead of the summit. Indian Rupee is likely to open near 69.65 a dollar and is expected to trade between 69.45 to 70.00 range for the day.
 
Regards,
Karvy Forex
www.karvyforex.com

1 comment:

Volume and Open Interest suggesting an accumulation in USDINR

USDINR futures prices were seen consolidating while  volumes  and OI were seen increasing suggesting accumulation.