USDINR TECHNICAL OUTLOOK:10/20/2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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USDINR, the pair after opening at 66.76 and made a HIGH of 66.85 and had a narrow range bar that suggest bulls and bears are in tug of war, the pair is trading in the range of 66.60-67.00 levels for past many days on spot basis , and trend is likely to be the same
Fundamental Overview
US dollar index is trading at 97.88, remaining largely unchanged in yesterday’s trade. Housing data was mixed and the beige book suggested that the employment market is strong and the US economy is on a solid recovering path. Dollar appreciated marginally after the reports but focus is likely to remain on the ECB for the day with minimum data elsewhere. We continue to remain on the buy side of the US dollar.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD FOMC Member Dudley Speaks
18:00:00 USD Initial Jobless Claims 250K 246K
18:00:00 USD
Philadelphia Fed Manufacturing Index
(Oct) 5.3 12.8
18:00:00 USD Philly Fed Employment (Oct) -5.3
19:30:00 USD Existing Home Sales (Sep) 5.35M 5.33M
19:30:00 USD Existing Home Sales (MoM) (Sep) 0.40% -0.90%
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Fundamental Overview
US dollar index is trading at 97.88, remaining largely unchanged in yesterday’s trade. Housing data was mixed and the beige book suggested that the employment market is strong and the US economy is on a solid recovering path. Dollar appreciated marginally after the reports but focus is likely to remain on the ECB for the day with minimum data elsewhere. We continue to remain on the buy side of the US dollar.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD FOMC Member Dudley Speaks
18:00:00 USD Initial Jobless Claims 250K 246K
18:00:00 USD
Philadelphia Fed Manufacturing Index
(Oct) 5.3 12.8
18:00:00 USD Philly Fed Employment (Oct) -5.3
19:30:00 USD Existing Home Sales (Sep) 5.35M 5.33M
19:30:00 USD Existing Home Sales (MoM) (Sep) 0.40% -0.90%