USDINR TECHNICAL OUTLOOK : 07.10.2016
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Above is the Daily Chart of USDINR, the pair after opening at 66.75 and made a low of 66.71 had a
sidewise session, to positive 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 66.50-66.90 for the near term on spot basis
Fundamental Overview
US dollar index is trading at 96.94, continuing to appreciate going into the key nonfarm payrolls data release today. There were no data reported from any of the economies yesterday but investor appetite for US dollars kept soaring as markets continued to bet on the US rate hike. Expect the trend to continue going into the event but there could be limited gains in US dollar on positive data.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Average Hourly Earnings (MoM) (Sep) 0.20% 0.10%
18:00:00 USD Nonfarm Payrolls (Sep) 175K 151K
18:00:00 USD Participation Rate (Sep) 0.628
18:00:00 USD Private Nonfarm Payrolls (Sep) 170K 126K
18:00:00 USD Unemployment Rate (Sep) 4.90% 4.90%
20:00:00 USD FOMC Member Stanley Fischer Speaks
22:15:00 USD FOMC Member Mester Speaks
22:30:00 USD U.S. Baker Hughes Oil Rig Count
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Above is the Daily Chart of USDINR, the pair after opening at 66.75 and made a low of 66.71 had a
sidewise session, to positive 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 66.50-66.90 for the near term on spot basis
Fundamental Overview
US dollar index is trading at 96.94, continuing to appreciate going into the key nonfarm payrolls data release today. There were no data reported from any of the economies yesterday but investor appetite for US dollars kept soaring as markets continued to bet on the US rate hike. Expect the trend to continue going into the event but there could be limited gains in US dollar on positive data.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Average Hourly Earnings (MoM) (Sep) 0.20% 0.10%
18:00:00 USD Nonfarm Payrolls (Sep) 175K 151K
18:00:00 USD Participation Rate (Sep) 0.628
18:00:00 USD Private Nonfarm Payrolls (Sep) 170K 126K
18:00:00 USD Unemployment Rate (Sep) 4.90% 4.90%
20:00:00 USD FOMC Member Stanley Fischer Speaks
22:15:00 USD FOMC Member Mester Speaks
22:30:00 USD U.S. Baker Hughes Oil Rig Count