USDINR TECHNICAL OUTLOOK : 1.12.2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
USDINR, the pair after opening at 68.84 and made a high of 68.84 and saw side wise to selling session after some trend reversal from 69.00 levels , the pair has seen sharp selling yesterday but strong supports of 68.35 has been respected and will see some gap up opening in the pair if sustain above that opportunity to buy.
Fundamental Overview
US dollar index is trading at 101.52, appreciating against all the majors after positive economic data was reported yesterday. Production cut in crude added to the inflation expectations for the US economy and this has helped the dollar surge higher. FED beige book released yesterday has also supported the case of a stronger US dollar. Manufacturing PMI is due to be reported today and the non-farm payrolls tomorrow. We expect the dollar to remain bid in today’s session.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
7:00:00 PM USD FOMC Member Mester Speaks
7:00:00 PM USD Initial Jobless Claims 253K 251K
8:15:00 PM USD Manufacturing PMI (Nov) 53.9 53.9
8:30:00 PM USD ISM Manufacturing Employment (Nov) 52.3 52.9
8:30:00 PM USD ISM Manufacturing PMI (Nov) 52.2 51.9
7:00:00 PM USD FOMC Member Mester Speaks
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Fundamental Overview
US dollar index is trading at 101.52, appreciating against all the majors after positive economic data was reported yesterday. Production cut in crude added to the inflation expectations for the US economy and this has helped the dollar surge higher. FED beige book released yesterday has also supported the case of a stronger US dollar. Manufacturing PMI is due to be reported today and the non-farm payrolls tomorrow. We expect the dollar to remain bid in today’s session.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
7:00:00 PM USD FOMC Member Mester Speaks
7:00:00 PM USD Initial Jobless Claims 253K 251K
8:15:00 PM USD Manufacturing PMI (Nov) 53.9 53.9
8:30:00 PM USD ISM Manufacturing Employment (Nov) 52.3 52.9
8:30:00 PM USD ISM Manufacturing PMI (Nov) 52.2 51.9
7:00:00 PM USD FOMC Member Mester Speaks