USDINR TECHNICAL OUTLOOK:10/21/2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USDINR, the pair after opening at 66.72 and made a low of 66.70 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 for the day.
Fundamental Overview
US dollar index is trading at 98.54, rising against all the majors after the ECB meeting and marginally positive home sales data. Positivity in the US dollar was not inspired from events from within the US economy but was from the negativity in the other majors. Weakness in Euro and Pound led to the appreciation and we expect this trend to continue today as well.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
02:15:00 USD FOMC Member Dudley Speaks
19:45:00 USD FOMC Member Tarullo Speaks
22:30:00 USD U.S. Baker Hughes Oil Rig Count 432
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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USDINR, the pair after opening at 66.72 and made a low of 66.70 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 for the day.
Fundamental Overview
US dollar index is trading at 98.54, rising against all the majors after the ECB meeting and marginally positive home sales data. Positivity in the US dollar was not inspired from events from within the US economy but was from the negativity in the other majors. Weakness in Euro and Pound led to the appreciation and we expect this trend to continue today as well.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
02:15:00 USD FOMC Member Dudley Speaks
19:45:00 USD FOMC Member Tarullo Speaks
22:30:00 USD U.S. Baker Hughes Oil Rig Count 432