USDINR TECHNICAL OUTLOOK : 7.12.2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USDINR, the pair after opening at 68.20 and made a high of 68.22 and saw some buying interest coming in the pair a day before around 68 levels , the pair has seen sharp selling from 68.86 but strong supports of 68.00 is violated if sustain and close below 68 mark will see further selling pressure in coming days.
Fundamental Overview
US dollar index is trading at 100.52, gaining some losses back in a mellowed session yesterday. Economic data was positive for the US dollar with the factory orders hitting a 1.5 years high. There is no major data to be announced today and markets would be focused on the ECB meeting before turning towards the FOMC on the 15th. We expect further consolidation in the US dollar before the ECB event tomorrow.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
8:30:00 PM USD JOLTs Job Openings (Oct) 5.500M 5.486M
9:00:00 PM USD Crude Oil Inventories -1.032M -0.884M
9:00:00 PM USD Cushing Crude Oil Inventories 2.419M
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Fundamental Overview
US dollar index is trading at 100.52, gaining some losses back in a mellowed session yesterday. Economic data was positive for the US dollar with the factory orders hitting a 1.5 years high. There is no major data to be announced today and markets would be focused on the ECB meeting before turning towards the FOMC on the 15th. We expect further consolidation in the US dollar before the ECB event tomorrow.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
8:30:00 PM USD JOLTs Job Openings (Oct) 5.500M 5.486M
9:00:00 PM USD Crude Oil Inventories -1.032M -0.884M
9:00:00 PM USD Cushing Crude Oil Inventories 2.419M