USDINR TECHNICAL OUTLOOK:1.11.2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USDINR, the pair after opening at 67.19and made a high of 67.19 and had side wise session to a narrow range bar that suggest bulls and bears are in tug of war, for past many weeks and 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 98.32, remaining broadly higher against the majors as expectations for the US economy continued to remain strong. Consumer spending and personal income data was reported in line with expectations and Friday’s strong third quarter GDP print helped the dollar to continue dominating the majors. Manufacturing PMI would be the key data to watch out for today and we expect the US dollar to remain supported at current levels.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
7:15:00 PM USD Manufacturing PMI (Oct) 53.3 53.2
7:30:00 PM USD ISM Manufacturing Employment (Oct) 50 49.7
7:30:00 PM USD ISM Manufacturing PMI (Oct) 51.7 51.5
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
USDINR, the pair after opening at 67.19and made a high of 67.19 and had side wise session to a narrow range bar that suggest bulls and bears are in tug of war, for past many weeks and 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 98.32, remaining broadly higher against the majors as expectations for the US economy continued to remain strong. Consumer spending and personal income data was reported in line with expectations and Friday’s strong third quarter GDP print helped the dollar to continue dominating the majors. Manufacturing PMI would be the key data to watch out for today and we expect the US dollar to remain supported at current levels.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
7:15:00 PM USD Manufacturing PMI (Oct) 53.3 53.2
7:30:00 PM USD ISM Manufacturing Employment (Oct) 50 49.7
7:30:00 PM USD ISM Manufacturing PMI (Oct) 51.7 51.5