USD/JPY TECHNICAL OUTLOOK : 03.10.2016

USD/JPY TECHNICAL OUTLOOK : 03.10.2016

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USD/JPY. Pair after opening at 101.24 and made high of 101.49 and was trading volatile between range of 100.50-101.50 levels the pair l violated the range and near range can be formed the range of 100-102 for coming sessions , 99.50 will act as a strong support while the strong resistance is coming at 103 so pair is likely to be volatile in this range, but intraday selling near 102 resistance

Fundamental Overview

Yen is trading at 101.43, depreciating against the US dollar as markets’ risk appetite improved. Manufacturing index data reported this morning was below expectations and added to the retreat of Yen from near the 100 levels that were seen yesterday. With the return of risk appetite, expect further weakness in Yen towards the 102.00 mark in today’s trade.

Economic Data & News

TIME COUNTRY DATA SURV PREVIOUS

05:20:00 JPY Tankan All Big Industry CAPEX (Q3) 6.80% 6.20%
05:20:00 JPY Tankan Big Manufacturing Outlook Index (Q3) 8 6
05:20:00 JPY Tankan Large Manufacturers Index (Q3) 7 6
05:20:00 JPY Tankan Large Non-Manufacturers Index (Q3) 18 19

GBP/USD TECHNICAL OUTLOOK : 03.10.2016

GBP/USD TECHNICAL OUTLOOK : 03.10.2016

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GBP/USD. Pair after opening at 1.3021 made a low of 1.2980, and seen some selling pressure in the pair the pair has being volatile in the session after violating 1.30 mark , the pair has double bottom formation near 1.2940 mark but not sustain at higher levels so intraday rise shall be utilized to sell the pair. Near the said levels

Fundamental Overview

Pound is trading at 1.2935, after dropping below the 1.29 mark in early trading today. British PM Theresa May, speaking at the conservative party’s annual conference said that she would trigger the process of Britain’s exit from the EU as early as March. Expect the slide to be limited at this point as there is a lot of time for the actual process to begin. Manufacturing PMI data that is to be reported today could help in the pair’s recovery

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
14:00:00 GBP Manufacturing PMI (Sep) 52.1 53.3

EUR/USD TECHNICAL OUTLOOK : 03.10.2016

EUR/USD TECHNICAL OUTLOOK : 03.10.2016

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EUR/USD. Pair after opening at 1.1220Made a high of 1.1251 and was trading with some week bias after violating the supports of 1.1200, but after our 1.1150 is acting as a strong support for near term formed bullish wick pattern signifies indecision in the pair so the pair is likely to trade in the range of 1.1150-1.1270 for near term , but intraday below 1.12 can be utilized to enter the pair

Fundamental Overview

Euro is trading at 1.1240, appreciating from the lows near 1.1150 that were seen on Friday. Economic data had little impact on the shared currency as markets remained focused on the troubles of deutsche bank, Talks about a lower settlement as compared to the previous $14 billion fine led to the recovery in risk off sentiment as well as the euro. Manufacturing PMI data that is to be reported today, if positive can help push the euro higher towards the 1.13 mark

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
13:25:00 EUR German Manufacturing PMI (Sep) 54.3 54.3
13:30:00 EUR Manufacturing PMI (Sep) 52.6 52.6

USDINR TECHNICAL OUTLOOK : 03.10.2016

USDINR TECHNICAL OUTLOOK : 03.10.2016

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Above is the Daily Chart of USDINR, the pair after opening at 67.14and made a high of 67.14 had a side wise session after a trending session a day before , the pair had a bullish candle this signifies aggressiveness of buyer , but 67,67.20 on spot will act as strong resistance while supports comes at 66.50 on spot so any dips shall be utilized to buy the pair

Fundamental Overview

US dollar index is trading at 95.43, standing firm against the majors as markets retracted the losses that were seen last week. Talks about a lower than expected fine for Deutsche bank helped prop up the sentiment. Focus would be on the non-farm payrolls data that is to be reported this Friday as investors would weigh in the possibility of any rate hike from the US FED in this year.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:15:00 USD Manufacturing PMI (Sep) 51.4 51.4
19:30:00 USD ISM Manufacturing Employment (Sep) 49 48.3
19:30:00 USD ISM Manufacturing PMI (Sep) 50.3 49.4

Rupee opens higher at 66.54 per dollar : 03.10.2016

Rupee opens higher at 66.54 per dollar : 03.10.2016

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The trading range for the day is seen between 66.50-67.20/dollar

The Indian rupee rose in the early trade on Monday. It has opened higher by 7 paise at 66.54 per dollar versus 66.61 Friday. Pramit Brahmbhatt of Veracity said, "Weakness in equity market will persist which will put pressure on rupee. The trading range for the day is seen between 66.50-67.20/dollar."

Expect bond markets to be positive : 03.10.2016

Expect bond markets to be positive : 03.10.2016

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The 10-year benchmark yield is likely to trade in a range of 6.77-6.83 percent today,

The bond markets are expected to continue with the positive momentum after the sharp recovery seen on Friday. However, participation levels might be subdued ahead of tomorrow's RBI policy review. The markets are looking forward to a dovish policy along with the possibility of a rate cut given the latest inflation reading."

 "The 10-year benchmark yield is likely to trade in a range of 6.77-6.83 percent today."