USDINR TECHNICAL OUTLOOK : 16.09.2016

USDINR TECHNICAL OUTLOOK : 16.09.2016

NIFTY Fut               : BUY ZONE
BANKNIFTY FUT : BUY ZONE

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Above is the Daily Chart of USDINR, the pair after opening at 67.00and made a high of 67.27 saw some volatile session and profit booking from the higher levels the pair had strong momentum on the upside and tested levels of 67.27 and reversed short term 67.30 is strong levels to be respected on the upside while supports comes in near 67.70 but intraday utilized to sell the pair at rise

Fundamental Overview

US dollar index is trading at 95.28, losing some ground after the lower than expected retail sales data that was reported yesterday. Continued weakness in the economic data since the non-farm payrolls a fortnight ago wiped out the odds for a rate hike in September. Focus would be on the tone of the FED meeting next week but expect no fireworks this time around.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Core CPI (YoY) (Aug) 2.20% 2.20%
18:00:00 USD Core CPI (MoM) (Aug) 0.20% 0.10%
18:00:00 USD CPI (MoM) (Aug) 0.10% 0.00%
19:30:00 USD
Michigan Consumer Expectations
(Sep) 79.3 78.7
19:30:00 USD Michigan Consumer Sentiment (Sep) 90.8 89.8
22:30:00 USD Baker Hughes U.S. Rig Count 414