Good Morning !

• Euro bounced back from its 10 month low, after the fresh positive comments from the prime minister designate Carlo Cottarelli.

• Two year Italian bond yields had recovered almost 1% to 1.75% from 2.75% yesterday.

• The dollar Index slipped after a sharp bounce back in Euro and GBP, but trading above 94 mark.

• Tracking the global cues Asian equities were seen trading in green this morning.

• Indian Rupee is likely to open near 67.43 a dollar and is expected to trade between 67.25-67.65 with slight dips initially followed by mild pullbacks.

Good Morning!

U.S President Donald Trump said it is inappropriate at this time to have planned North Korea summit calling off his June 12 meeting with Kim Jong-Un.
In response N. Korean vice Foreign ministry says they were surprised with the cancellation and they remain willing to meet U.S at any time
Asian equities were seen trading lower on the back of fresh comments from US and N. Korea
U.S 10 year yields trading below 3% mark after falling sharply to 2.95% levels yesterday.
Crude oil prices trading lower after a fresh statement on increasing supply from Russia.
India unit is seen opening near 68.28 a dollar and is likely to trade within a range of 68.40 on the lower side and 68.10 on the higher side.

Regards,
Karvy Forex

Good Morning!

Geopolitical tensions once again made their place on the headlines today. Trump administration considering plans to impose up to 25% in new tariffs on imported vehicles.
China’s Commerce Ministry said on Thursday that it had not pledged to cut the country’s trade surplus with the U.S be a certain figure.
U.S 10 year treasury yields extended its correction and seen quoting below crucial 3% today morning.
Crude oil prices were also seen trading just below crucial $80 mark on Brent.
The Indian Rupee is likely to open near 68.30 and is expected to trade between 68.40 - 68.15 range for the day.

Good Morning!

U.S. President Donald Trump suggested, that his planned meeting with North Korean leader Kim Jong-un may not happen on June 12.
Chinas technology giant ZTE Corp. said to face at least $3.1 Bln in losses from US ban. Asian shares were seen trading lower on the back of comments from Trump and ZTE.
Brent Crude oil retreated from $80 but remains within the sight of 3 ½ year highs. U.S 10 year Treasury yields is seen trading lower at 3.05%.
Indian Rupee is likely to open near 68.18 and expected to trade within a range of 68 – 68.35 a dollar.

Regards,
Karvy Forex.

Good Morning!

Crude Oil prices held steady on concerns that Venezuela crude output may drop further following a disputed presidential election and possible U.S sanctions.
Dollar index trading just below its five month high on the back of pullback in U.S 10 year treasury yields from seven year highs. Asian equities were seen trading in flat to positive range this morning.
Uncertainty continued in Italy, as Italy’s far-right League and the 5-Star Movement agreed on a candidate to lead their planned coalition government.
Indian Rupee is seen opening near 68.05 a dollar and is expected to trade in a range between 67.90 -68.25 a dollar for the day.

Regards,
Karvy Forex

Good Morning!

U.S. President Trump said China "has become very spoiled on trade,".
Japan reported CPI data that missed expectation and failed to meet its 2% inflation target again, sending the yen lower.
Escalating trade tensions and rising oil prices kept investors grappled, thus leading to a choppy trading session on the Wall Street that ended lower.
Asian equities edged up today as investors kept a cautious watch on developments in US-China trade negotiations.
The dollar index hovered near five-month highs well above the 93 level in Asia today morning, after climbing to this year’s fresh high at 93.46 overnight.
The Indian Rupee is seen opening at 67.84 a dollar and is expected to trade weaker approaching 68 again.

Regards
Karvy Forex

Good Morning!

Dollar index edged higher on the back of continued yield surge. US 10 year treasury yields were seen quoting at 3.1% today morning, its highest level since July 2011.

Euro continued to tumble and extended its losses to five month low amid concerns over political developments in Italy.

Asian shares are trading flat this morning. Oil prices raised yesterday after an inventory report showed U.S. crude and gasoline stocks fell more than expected.

Indian unit expected to open near 67.76 a dollar and likely to consolidate between 67.55 - 67.96.

Regards,
Karvy Forex

Good Morning!

The BJP emerges as single largest party in the Karnataka State elections falling short of majority, dampens the sentiments. The Rupee weakened yesterday. Indian equities to take a hit today.
Asian markets fell in early trade today after Pyongyang suspended talks with Seoul, throwing a major US-North Korean summit into question.
A spike in the US 10-year Treasury bond yields to a seven-year high knocked sentiment on Wall Street yesterday after strong retail sales data stoked inflation concerns and investors were left anxious about looming trade talks between the U.S. and China.
WTI crude oil prices settled higher yesterday as expectations for reduced global supplies following U.S. sanctions on Iran offset concerns over rising U.S. crude output.
The dollar index hovered near a five-month high today, as a surge in the benchmark 10-year Treasury yield above 3 percent set the index rallying again after a minor halt.
The Indian Rupee is seen opening at 68.14 a dollar today and expected to trade weaker between 67.80-68.30 for the day.

Regards
Karvy Forex

Good Morning!

Global equity indices rallied last week with the U.S. ticking up by 2% and Europe up for 7th straight week. Asian equities followed; continuing the move today too as stocks hold on close to one-month highs.

Oil prices today fell away from last week's multi-year highs as a relentless rise in U.S. drilling activity pointed to increased output, while resistance emerged in Europe and Asia to U.S. sanctions against major crude exporter Iran.

The dollar held steady today, its recent rally running out of steam on the back of sinking U.S. yields as investors wound back expectations that the Fed will launch a series of quick rate hikes.

Uncertainty over Italian politics and resulting weakness in the Italian bond market might cap the anticipated strength in Euro this week.

The Indian Unit is seen opening at 67.28 a dollar with expectations on USDINR to be playing the 67.05-67.40 range for the day.

Regards

Karvy Forex

Good Morning!

The BOE has kept the interest rates unchanged at 0.50% as globally expected but reduced its GDP growth and inflation outlook for 2018 & 2019.
The dollar index retraced back from its 4.5months highs amid weaker than expected core CPI data. surprisingly US consumer prices rose 0.1% during the month of April less than market expectations at 0.2% which would support a gradual, rather than more aggressive rate hike by Fed.
Asian equities trading in the positive zone early this morning.
The Indian unit is seen opening at 67.15 a dollar and expected to play the 67.00-67.30 range for the day.

Good Morning!

A recent run of weak UK economic data and renewed worries about Brexit have led markets to price out the possibility of a rate hike from the BOE today.
Wall Street surged yesterday, recording broad gains with high volumes where utilities & telecom drove the markets, followed by Asian equities today led by energy shares as crude oil prices bolted higher after U.S. President Donald Trump’s decision to pull out of a nuclear deal with Iran.
The dollar held firm today after the 10-year U.S. bond yield rose back to the psychologically important 3 percent mark and investors looked to U.S. consumer price data due later to show an acceleration in inflation.
The Rupee is seen opening at 67.33 a dollar and expected to play the 67.05-67.45 range for the day.

Regards
Karvy Forex

Good Morning!

U.S. President Trump to announce his decision on the Iran nuclear deal tonight. Threatens to withdraw from the agreement that provides Iran with relief from sanctions. Oil prices decline.
Wall Street climbed yesterday, boosted by Apple's sixth straight day of gains whereas Asian equities climbed in morning trade today as investors await China’s April trade data due later in the day.
The dollar hovered near a four-month high today, supported by rising Treasury yields and broadly strong U.S. economic data, Euro was left struggling, hit by weak data.
The Indian unit is seen an opening at 67.15 a dollar and is expected to trade weaker following the 67.00-67.30 range today.

Regards
Karvy Forex

Good Morning!

The Trump administration placed several conditions, including protection of American technology and intellectual property and reducing the two nation’s trade deficit by at least $200 billion by 2020, in front of its Chinese counterparts in a meeting held last week.
Friday's U.S. jobs report showed unemployment dropping to a new cycle low of 3.9 percent yet wages remained benign, suggesting the FED would keep raising rates but at a gradual pace.
Asian stocks were mixed in morning trade today as traders dismissed the biggest advance in U.S. shares in almost four weeks.
The dollar index stayed near its 2018 peak early today after U.S. jobs and wages data did little to weaken perceptions of strength in the U.S. economy, though renewed concerns about trade frictions could bring worries to the outlook.
The Indian unit is seen opening at 66.81 a dollar and is expected to play the 66.65-66.95 range for the day.

Regards
Karvy Forex

Good Morning!

US equities were mixed yesterday, swinging between positive and negative territory during the session as weak earnings reports from several companies offset strong economic data.
Asian shares stepped back in early trade today as financial markets turned their attention to the looming U.S. payrolls data for fresh stimulus.
Oil prices moved up today, extending the previous session’s modest gains as emerging geopolitical risks from possible new U.S. sanctions against Iran supported the oil market.
The Dollar slipped against the major Asian currencies today morning after it jumped to this year’s new high yesterday. The focus is on whether U.S. jobs data will provide the spark for another push higher.
The Indian Unit however, is seen opening flat again at 66.65 a dollar and might witness a mild appreciation in today’s session clinging to the 66.45-66.80 range.

Regards
Karvy Forex

Good Morning!

The Fed surprises the market with its less hawkish-than-expected statement. Interest rates kept unchanged as expected but No hint towards a rate hike in June. Says inflation moved close to its target; Economic growth at moderate pace.
US stocks fell on Wednesday as potential U.S. restrictions on Chinese telecom companies reinforced investor concerns about worsening trade relations between the United States and China. Asian shares were subdued on Thursday ahead of anxiously-awaited Sino-US trade talks.
Talks between US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He are due to start later today.
The Dollar Index traded near four-month highs today morning having recovered from a dip post FED.
The Indian Rupee is seen opening flat at 66.65 a dollar and is expected to play the 66.50-66.80 range for the day with a mild appreciating bias.

Regards
Karvy Forex