USDINR TECHNICAL OUTLOOK : 16.15.2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USDINR, the pair after opening at 67.77 and made a high of 67.93 and saw some buying after a gap up opening from the last day the pair had taken supports from the lower levels of 67.50 and that’s holding in the pair ,but the pair having supply near 68 mark so likely to trade side wise with positive bias.
Fundamental Overview
US dollar index is trading at 103.08, as the US dollar advanced further in yesterday’s trade. After the fed’s hawkish statement, dollar bulls found no reason to turn back and would continue to remain aggressive until there is any bad news from the US or a run for profit booking. Economic data was positive with the Manufacturing indices showing stellar improvement. Housing starts and building permits data to be reported today and we expect a continued dollar rally to test 104 in the near term.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00:00 USD Building Permits (MoM) (Nov) 0.029
19:00:00 USD Building Permits (Nov) 1.240M 1.260M
19:00:00 USD Housing Starts (MoM) (Nov) 0.255
19:00:00 USD Housing Starts (Nov) 1.230M 1.323M
23:30:00 USD U.S. Baker Hughes Oil Rig Count 498
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Fundamental Overview
US dollar index is trading at 103.08, as the US dollar advanced further in yesterday’s trade. After the fed’s hawkish statement, dollar bulls found no reason to turn back and would continue to remain aggressive until there is any bad news from the US or a run for profit booking. Economic data was positive with the Manufacturing indices showing stellar improvement. Housing starts and building permits data to be reported today and we expect a continued dollar rally to test 104 in the near term.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00:00 USD Building Permits (MoM) (Nov) 0.029
19:00:00 USD Building Permits (Nov) 1.240M 1.260M
19:00:00 USD Housing Starts (MoM) (Nov) 0.255
19:00:00 USD Housing Starts (Nov) 1.230M 1.323M
23:30:00 USD U.S. Baker Hughes Oil Rig Count 498