USDINR TECHNICAL OUTLOOK : 29.08.2016
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Above is the Daily Chart of USDINR, the pair after opening at 67.01and made a low of 66.94 and trading side wise to positive and now after yellen speech the pair started to appreciate as 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
Fundamental Overview
US dollar index is trading at 95.48, appreciating in Friday’s trade as markets reacted to the hawkish
comments from FED chair and vice chair. Odds for a rate hike in coming months have doubled and markets are looking at December rate hike as a certainty. Look for continued strength of the US dollar and all incoming data would be important from now on, beginning with the US non-farm payrolls of Friday.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
08:00:00 USD Core PCE Price Index (YoY) (Jul) 1.60%
18:00:00 USD Core PCE Price Index (MoM) (Jul) 0.10% 0.10%
18:00:00 USD Personal Spending (MoM) (Jul) 0.30% 0.40%
19:00:00 USD Fed Chair Yellen Speaks
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Fundamental Overview
US dollar index is trading at 95.48, appreciating in Friday’s trade as markets reacted to the hawkish
comments from FED chair and vice chair. Odds for a rate hike in coming months have doubled and markets are looking at December rate hike as a certainty. Look for continued strength of the US dollar and all incoming data would be important from now on, beginning with the US non-farm payrolls of Friday.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
08:00:00 USD Core PCE Price Index (YoY) (Jul) 1.60%
18:00:00 USD Core PCE Price Index (MoM) (Jul) 0.10% 0.10%
18:00:00 USD Personal Spending (MoM) (Jul) 0.30% 0.40%
19:00:00 USD Fed Chair Yellen Speaks