USDINR TECHNICAL OUTLOOK : 13.10.2016
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 today gapped up 67.00 levels is a strong hurdle if sustain above then will see some momentum
Fundamental Overview
US dollar index is trading at 97.79, appreciating against all the majors as investors became certain of a rate hike from the US FED in the months ahead. The FOMC meeting minutes indicated that there was a tough discussion before the previous rate hike decision. With no major data to be reported during the day, we expect some stalling in the US dollar but the green back continues to remain a buy on every dip.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
6:30:00 AM USD FOMC Member Kashkari Speaks
6:00:00 PM USD Export Price Index (MoM) (Sep) 0.10% -0.80%
6:00:00 PM USD Import Price Index (MoM) (Sep) 0.20% -0.20%
6:00:00 PM USD Initial Jobless Claims 254K 249K
8:30:00 PM USD Crude Oil Inventories 0.650M -2.976M
8:30:00 PM USD Cushing Crude Oil Inventories 0.569M
9:45:00 PM USD FOMC Member Harker Speaks
11:30:00 PM USD Federal Budget Balance (Sep) 25.0B -107.0B
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 today gapped up 67.00 levels is a strong hurdle if sustain above then will see some momentum
Fundamental Overview
US dollar index is trading at 97.79, appreciating against all the majors as investors became certain of a rate hike from the US FED in the months ahead. The FOMC meeting minutes indicated that there was a tough discussion before the previous rate hike decision. With no major data to be reported during the day, we expect some stalling in the US dollar but the green back continues to remain a buy on every dip.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
6:30:00 AM USD FOMC Member Kashkari Speaks
6:00:00 PM USD Export Price Index (MoM) (Sep) 0.10% -0.80%
6:00:00 PM USD Import Price Index (MoM) (Sep) 0.20% -0.20%
6:00:00 PM USD Initial Jobless Claims 254K 249K
8:30:00 PM USD Crude Oil Inventories 0.650M -2.976M
8:30:00 PM USD Cushing Crude Oil Inventories 0.569M
9:45:00 PM USD FOMC Member Harker Speaks
11:30:00 PM USD Federal Budget Balance (Sep) 25.0B -107.0B