USDINR TECHNICAL OUTLOOK:10/24/2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
USDINR, the pair after opening at 66.88and made a low of 66.85 and had side wise session after 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 98.80, continuing to remain on the stronger side as weakness in the other majors continued. There was no major economic event all of last week, except for the ECB meeting. Markets would be focused on the third quarter GDP, consumer confidence, new home sales and durable goods orders for this week. We expect the dollar index to test the 100 mark in this week.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:30:00 USD FOMC Member Dudley Speaks
18:35:00 USD FOMC Member Bullard Speaks
19:15:00 USD Manufacturing PMI (Oct) 51.6 51.5
23:30:00 USD FOMC Member Powell Speaks
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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USDINR, the pair after opening at 66.88and made a low of 66.85 and had side wise session after 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 98.80, continuing to remain on the stronger side as weakness in the other majors continued. There was no major economic event all of last week, except for the ECB meeting. Markets would be focused on the third quarter GDP, consumer confidence, new home sales and durable goods orders for this week. We expect the dollar index to test the 100 mark in this week.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:30:00 USD FOMC Member Dudley Speaks
18:35:00 USD FOMC Member Bullard Speaks
19:15:00 USD Manufacturing PMI (Oct) 51.6 51.5
23:30:00 USD FOMC Member Powell Speaks