USDINR TECHNICAL OUTLOOK:30.11.2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USDINR, the pair after opening at 68.94 and made a high of 68.94 and saw side wise session after some trend reversal from 69.00 levels , the pair has seen sharp selling a day before near to the previous high of 68.85 with the possibility that the central bank would have sold dollars to ease volatility. Expect the 68.95 will be a short term resistance and strong support comes at 68.70.
Fundamental Overview
US dollar index is trading at 101.12, almost at the same level as the previous day. US dollar failed to latch on to the gains that were seen after a positive print of the third quarter GDP, which was reported at 3.2% against an expectation of 3.0%. ADP non-farm payrolls and Pending home sales data would be in focus but the key driver would be the OPEC meeting outcome. We expect some more consolidation in US dollar before another leg up.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
6:45:00 PM USD ADP Nonfarm Employment Change (Nov) 165K 147K
7:00:00 PM USD Core PCE Price Index (YoY) (Oct) 1.70%
7:00:00 PM USD Core PCE Price Index (MoM) (Oct) 0.10% 0.10%
7:00:00 PM USD Personal Spending (MoM) (Oct) 0.50% 0.50%
Tentative USD OPEC Meeting
8:15:00 PM USD Chicago PMI (Nov) 52 50.6
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Fundamental Overview
US dollar index is trading at 101.12, almost at the same level as the previous day. US dollar failed to latch on to the gains that were seen after a positive print of the third quarter GDP, which was reported at 3.2% against an expectation of 3.0%. ADP non-farm payrolls and Pending home sales data would be in focus but the key driver would be the OPEC meeting outcome. We expect some more consolidation in US dollar before another leg up.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
6:45:00 PM USD ADP Nonfarm Employment Change (Nov) 165K 147K
7:00:00 PM USD Core PCE Price Index (YoY) (Oct) 1.70%
7:00:00 PM USD Core PCE Price Index (MoM) (Oct) 0.10% 0.10%
7:00:00 PM USD Personal Spending (MoM) (Oct) 0.50% 0.50%
Tentative USD OPEC Meeting
8:15:00 PM USD Chicago PMI (Nov) 52 50.6