USDINR TECHNICAL OUTLOOK:2.11.2016
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 97.67, slipping against all the majors in a choppy trade yesterday. Volatility in the global markets kicked in after a new poll gave a marginal lead to Donald Trump in the upcoming election. Odds for Hillary winning the election came down and markets have already priced in no rate hike in today’s FOMC statement. We expect further weakness in the Dollar until some clarity emerges from the polls.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:45:00 PM USD
ADP Nonfarm Employment Change
(Oct) 165K 154K
8:00:00 PM USD Crude Oil Inventories 1.013M -0.553M
11:30:00 PM USD FOMC Statement
11:30:00 PM USD Fed Interest Rate Decision 0.50% 0.50%
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Fundamental Overview
US dollar index is trading at 97.67, slipping against all the majors in a choppy trade yesterday. Volatility in the global markets kicked in after a new poll gave a marginal lead to Donald Trump in the upcoming election. Odds for Hillary winning the election came down and markets have already priced in no rate hike in today’s FOMC statement. We expect further weakness in the Dollar until some clarity emerges from the polls.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:45:00 PM USD
ADP Nonfarm Employment Change
(Oct) 165K 154K
8:00:00 PM USD Crude Oil Inventories 1.013M -0.553M
11:30:00 PM USD FOMC Statement
11:30:00 PM USD Fed Interest Rate Decision 0.50% 0.50%