USDINR TECHNICAL OUTLOOK : 3.11.2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USDINR, the pair after opening at 67.00 and made a high of 67.03 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 97.23, continued to remain beaten down as markets remained nervous before the US elections. FOMC statement was a nonevent as per expectations. The statement was slightly hawkish, with two members wanting an immediate hike. FED has acknowledged the improving economic conditions and markets continue a 70% chance of a FED hike in December. Expect the weakness in the US dollar to remain as we inch closer to the election date.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
7:30:00 PM
USD
ISM Non-Manufacturing PMI (Oct)
56
57.1
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Fundamental Overview
US dollar index is trading at 97.23, continued to remain beaten down as markets remained nervous before the US elections. FOMC statement was a nonevent as per expectations. The statement was slightly hawkish, with two members wanting an immediate hike. FED has acknowledged the improving economic conditions and markets continue a 70% chance of a FED hike in December. Expect the weakness in the US dollar to remain as we inch closer to the election date.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
7:30:00 PM
USD
ISM Non-Manufacturing PMI (Oct)
56
57.1