USDINR TECHNICAL OUTLOOK:10/19/2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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USDINR, the pair after opening at 66.85 and made a HIGH of 66.89 had a strong session and saw a profit booking session, the pair had taken a strong support near its 66.60 levels and reversed suggesting demand at lower levels, but supply is coming in at 67.00 levels so likely the pair
shall be range bound , till a breakout or breakdown occurs
Fundamental Overview
US dollar index is trading at 97.82, consolidating against the majors after a marginally weaker inflation and retail sales report was released yesterday. Dollar remained in a consolidation mode with pound being the only currency that appreciated considerably. Housing data and US beige book are the key data releases to be watched out today. We expect dollar to remain supported at current levels and remain bullish for the near to long term.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
6:00:00 PM USD Building Permits (MoM) (Sep) 0.90% -0.40%
6:00:00 PM USD Building Permits (Sep) 1.165M 1.152M
6:00:00 PM USD Housing Starts (MoM) (Sep) 0.025 -0.058
6:00:00 PM USD Housing Starts (Sep) 1.175M 1.142M
6:15:00 PM USD FOMC Member Williams Speaks
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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USDINR, the pair after opening at 66.85 and made a HIGH of 66.89 had a strong session and saw a profit booking session, the pair had taken a strong support near its 66.60 levels and reversed suggesting demand at lower levels, but supply is coming in at 67.00 levels so likely the pair
shall be range bound , till a breakout or breakdown occurs
Fundamental Overview
US dollar index is trading at 97.82, consolidating against the majors after a marginally weaker inflation and retail sales report was released yesterday. Dollar remained in a consolidation mode with pound being the only currency that appreciated considerably. Housing data and US beige book are the key data releases to be watched out today. We expect dollar to remain supported at current levels and remain bullish for the near to long term.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
6:00:00 PM USD Building Permits (MoM) (Sep) 0.90% -0.40%
6:00:00 PM USD Building Permits (Sep) 1.165M 1.152M
6:00:00 PM USD Housing Starts (MoM) (Sep) 0.025 -0.058
6:00:00 PM USD Housing Starts (Sep) 1.175M 1.142M
6:15:00 PM USD FOMC Member Williams Speaks