USDINR TECHNICAL OUTLOOK : 05.10.2016
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Above is the Daily Chart of USDINR, the pair after opening at 66.73and made a low of 66.62 had a volatile session, the pair had a indecision candle this signifies tug of war between bulls and bears , but 67, on spot will act as strong resistance while supports comes at 66.30 on spot so the pair is likely to consolidate in the range of 66.30-66.90 for the near term
Fundamental Overview
US dollar index is trading at 96.10, continuing with the appreciation as markets remain worried about the banking troubles in the EU and also on the possibility of a stronger than expected non-farm payrolls data on Friday. There was no major data from the US yesterday but comments from FED member Mester, who said that the rates have to rise in November added to the US dollar strength. ADP employment data and nonmanufacturing ISM would be reported and would act as a prelude to the non-farm payrolls data on Friday. We expect cautious gains in the US dollar today.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
17:45:00 USD
ADP Nonfarm Employment Change
(Sep) 166K 177K
18:00:00 USD Trade Balance (Aug) -39.30B -39.50B
19:00:00 USD FOMC Member Kashkari Speaks
19:15:00 USD Markit Composite PMI (Sep) 52
19:15:00 USD Services PMI (Sep) 51.9 51.9
19:30:00 USD Factory Orders (MoM) (Aug) -0.10% 1.90%
19:30:00 USD
ISM Non-Manufacturing Employment
(Sep) 50.7
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Fundamental Overview
US dollar index is trading at 96.10, continuing with the appreciation as markets remain worried about the banking troubles in the EU and also on the possibility of a stronger than expected non-farm payrolls data on Friday. There was no major data from the US yesterday but comments from FED member Mester, who said that the rates have to rise in November added to the US dollar strength. ADP employment data and nonmanufacturing ISM would be reported and would act as a prelude to the non-farm payrolls data on Friday. We expect cautious gains in the US dollar today.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
17:45:00 USD
ADP Nonfarm Employment Change
(Sep) 166K 177K
18:00:00 USD Trade Balance (Aug) -39.30B -39.50B
19:00:00 USD FOMC Member Kashkari Speaks
19:15:00 USD Markit Composite PMI (Sep) 52
19:15:00 USD Services PMI (Sep) 51.9 51.9
19:30:00 USD Factory Orders (MoM) (Aug) -0.10% 1.90%
19:30:00 USD
ISM Non-Manufacturing Employment
(Sep) 50.7