Morning Report

Morning Report

Monday, 16 July 2018

  • Asian shares traded mixed in early Monday trade, with Japan markets closed for a holiday.
  • Gains in stocks last week came amid a perceived easing in trade rhetoric between the U.S. and China.

Asian stocks were narrowly mixed early on Monday after a perceived easing in rhetoric in the U.S.-China trade dispute late last week. Investors also awaited the release of a barrage of China economic data due later in the day.

South Korean stocks traded slightly lower, with the Kospi slipping 0.05 percent. In Australia, the S&P/ASX 200 inched higher by 0.08 percent. The sideways trade came on the back of gains on Wall Street in the previous session. The S&P 500 added 0.11 percent to end at 2,801.31, closing the session above the 2,800 level for the first time since Feb. 1.

In currencies, the dollar index, which tracks the U.S. dollar against a basket of currencies, traded at 94.762 . The People’s Bank of China (PBOC) set the Yuan reference rate at 6.6758 vs Friday’s day’s fix of 6.6727.

Oil prices fell on Monday as concerns about supply disruptions eased and Libyan ports resumed export activities, while traders eyed potential supply increases by Russia and other oil producers. Brent crude futures were down 26 cents, or 0.4 percent, at $75.07 a barrel U.S. West Texas Intermediate (WTI) crude was down 27 cents, or 0.4 percent, at $70.74 a barrel.

Source : Reuters

Dollar Rupee Technical Analysis

 

Screen Shot 2018-07-15 at 10.06.48 AM
Daily Chart

Technical levels on Daily Charts

Supports : 68.4050 (Ichimoku) and 68.01 (50 day SMA & Ichimoku)

Resistance  : 68.58 (18 day SMA & Ichimoku) and 68.74 (Ichimoku)

 

Screen Shot 2018-07-15 at 10.09.40 AM
Weekly Chart

Technical levels on Weekly Charts

Supports : 68.03 (7 Week SMA) and 67.91 (Previous low in this up move)

Resistance  : 69.09 (All time high) and 69.42 (Bollinger Band)

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Morning Report

Friday, 13 July 2018

  • Asian stocks climbed on Friday, with Japan leading the gains in regional markets.
  • U.S. stocks rose on Thursday, with the technology sector contributing to gains as investors shifted their focus to earnings season.
  • The lack of escalation in trade tensions between the U.S. and China likely supported improved sentiment.

Asian shares extended gains on Friday after Wall Street rebounded as technology stocks there touched all-time highs. There was also some relief coming from the lack of escalation in trade tensions between the U.S. and China.

Japan’s Nikkei 225 jumped 1.35 percent as stocks extended Thursday’s gains. South Korea’s Kospi climbed 0.85 percent. In Australia the S&P/ASX 200 edging up by 0.24 percent in the morning.

The firmer footing in Asian markets came after U.S. stocks rebounded on Thursday,The Nasdaq composite gained 1.39 percent to end at 7,823.92, recording its largest one-day gain since June 1.

Friday’s extended recovery in markets also followed the relative calm on the trade front overnight, with the Chinese commerce ministry saying Thursday that China had not been in touch with the U.S. about restarting trade talks, according to Reuters.

The dollar index, which tracks the greenback against a basket of currencies, stood at 94.889. The People’s Bank of China (PBOC) set the Yuan reference rate at 6.6727 vs the previous day’s fix of 6.6726. The People’s Bank of China issued a statement on Friday, announcing that it injected 188.5bn Yuan via 1-year Medium-term lending facility (MLF) at 3.3 percent. Earlier today, the PBOC skipped the open market operations (OMOs).

U.S. light crude ended Thursday’s session down 5 cents at $70.33 a barrel, after touching a session high of $71.24 and a low of $69.23. The contract fell 5 percent the previous session. Benchmark Brent crude oil was up 83 cents, or 1.1 percent, at $74.23 a barrel On Wednesday, Brent slumped $5.46, or 6.9 percent.

Source : Reuters

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