USDINR TECHNICAL OUTLOOK:25.11.2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
USDINR, the pair after opening at 68.74 and made a high of 68.86 and saw trend continuation, the pair has seen sharp selling near to the previous high of 68.85 with the possibility that the central bank would have sold dollars to ease volatility. Expect the 68.85 mark to be protected for the day but the technical indicators point for the trend to continue. Movement should be restricted to 68.50-68.80 range for the day.
Fundamental Overview
US dollar index is trading at a 13 year high of 101.92, gaining momentum after positive durable goods orders, manufacturing PMI and consumer sentiment. Markets were convinced of a rate hike from the US after the FOMC meeting minutes were released yesterday, which indicated the rates could go up very soon. US markets are closed today for thanksgiving but the dollar rally is set to continue into the FOMC meeting minutes in December.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00 USD Goods Trade Balance -59.20B -56.08B
20:15 USD Markit Composite PMI 54.9 20:15
USD Services PMI 54.80 54.80
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Fundamental Overview
US dollar index is trading at a 13 year high of 101.92, gaining momentum after positive durable goods orders, manufacturing PMI and consumer sentiment. Markets were convinced of a rate hike from the US after the FOMC meeting minutes were released yesterday, which indicated the rates could go up very soon. US markets are closed today for thanksgiving but the dollar rally is set to continue into the FOMC meeting minutes in December.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00 USD Goods Trade Balance -59.20B -56.08B
20:15 USD Markit Composite PMI 54.9 20:15
USD Services PMI 54.80 54.80