USDINR TECHNICAL OUTLOOK : 07.08.2016
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
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Fundamental Overview
US dollar index is trading at 94.76, witnessing a sharp drop after a surprise drop in non-manufacturing PMI that was reported yesterday. Dollar sold off against all majors as rate hike in September was completely ruled out by markets. FOMC member Williams continued with his hawkish tone, asserting a need to raise rates, sooner than later. Expect a weak dollar during the day and FED beige book would give an economic outlook before the FOMC meeting.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:30:00 USD JOLTs Job Openings (Jul) 5.580M 5.624M
23:30:00 USD Beige Book
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
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Above is the Daily Chart of USDINR, the pair after opening at 66.75and made a high of 66.80 and trading side wise to negative and now after yellen speech the pair started to appreciate as pair breaking out few days back now 67.00 (SPOT)- will act as a strong resistance in the pair as this becomes the physiological level, and now violated the major support so intraday rise shall be utilized to sell the pairFundamental Overview
US dollar index is trading at 94.76, witnessing a sharp drop after a surprise drop in non-manufacturing PMI that was reported yesterday. Dollar sold off against all majors as rate hike in September was completely ruled out by markets. FOMC member Williams continued with his hawkish tone, asserting a need to raise rates, sooner than later. Expect a weak dollar during the day and FED beige book would give an economic outlook before the FOMC meeting.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:30:00 USD JOLTs Job Openings (Jul) 5.580M 5.624M
23:30:00 USD Beige Book