USDINR TECHNICAL OUTLOOK : 26.08.2016
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Above is the Daily Chart of USDINR, the pair after opening at 67.12 and made a high of 67.13 and trading side wise session after pair breaking out few days back now 67.00- will act as a strong support in the pair on spot basis and any dip can be utilized to go long in the pair and short term resistance will come around 67.40 levels but intraday expecting a range of 66.90-67.10
Fundamental Overview
US dollar index is trading at 94.64; remaining largely unchanged against the majors as markets eagerly wait for Yellen’s speech tonight. A hawkish statement, affirming a rate this year, Fed chair could drive USD higher, but the chances for the same remain slim. We can expect a wait and watch stance statement which could help other currencies rally against the dollar.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
17:30:00 USD Jackson Hole Symposium
18:00:00 USD GDP (QoQ) (Q2) 1.10% 1.20%
18:00:00 USD GDP Price Index (QoQ) (Q2) 2.20% 2.20%
18:00:00 USD Goods Trade Balance (Jul) -62.30B -63.30B
19:30:00 USD Fed Chair Yellen Speaks
19:30:00 USD Michigan Consumer Expectations (Aug) 81 80.3
19:30:00 USD Michigan Consumer Sentiment (Aug) 90.6 90.4
22:30:00 USD Baker Hughes U.S. Rig Count 406
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Above is the Daily Chart of USDINR, the pair after opening at 67.12 and made a high of 67.13 and trading side wise session after pair breaking out few days back now 67.00- will act as a strong support in the pair on spot basis and any dip can be utilized to go long in the pair and short term resistance will come around 67.40 levels but intraday expecting a range of 66.90-67.10
Fundamental Overview
US dollar index is trading at 94.64; remaining largely unchanged against the majors as markets eagerly wait for Yellen’s speech tonight. A hawkish statement, affirming a rate this year, Fed chair could drive USD higher, but the chances for the same remain slim. We can expect a wait and watch stance statement which could help other currencies rally against the dollar.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
17:30:00 USD Jackson Hole Symposium
18:00:00 USD GDP (QoQ) (Q2) 1.10% 1.20%
18:00:00 USD GDP Price Index (QoQ) (Q2) 2.20% 2.20%
18:00:00 USD Goods Trade Balance (Jul) -62.30B -63.30B
19:30:00 USD Fed Chair Yellen Speaks
19:30:00 USD Michigan Consumer Expectations (Aug) 81 80.3
19:30:00 USD Michigan Consumer Sentiment (Aug) 90.6 90.4
22:30:00 USD Baker Hughes U.S. Rig Count 406