Thursday, January 5, 2017

USDINR TECHNICAL OUTLOOK : 06.01.2017

USDINR TECHNICAL OUTLOOK : 06.01.2017
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE


Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

USDINR, the pair after opening at 68.20 and made a high of 68.20 and saw some selling pressure in the first hour trade after a side wise activity last day and today expected to open down 0.15 paisa and now 68.00 spot will become a strong resistance going forward but supports come at 67.65 levels spot.

Fundamental Overview

US dollar depreciated and traded lower against all the majors and experienced its greatest one day loss in three months versus Yen after disappointment in ADP Non Farm, investors and traders are waiting for Non farm payroll data schedule to report in evening and if data disappoints like ADP then dollar can tank further.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
23:30 USD FOMC Member Lacker Speaks
19:00 USD Average Hourly Earnings (MoM) (Dec) 0.30% -0.10%
19:00 USD Nonfarm Payrolls (Dec) 178K 178K
19:00 USD Participation Rate (Dec) 62.70%
19:00 USD Private Nonfarm Payrolls (Dec) 170K 156K
19:00 USD Trade Balance (Nov) -42.50B -42.60B
19:00 USD Unemployment Rate (Dec) 4.70% 4.60%
20:30 USD Factory Orders (MoM) (Nov) -2.20% 2.70%
23:30 USD U.S. Baker Hughes Oil Rig Count 525