USDINR TECHNICAL OUTLOOK : 01.02.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USDINR, the pair after opening at 68.15 and made a high of 68.15 and saw the pair trading with a negative bias and today likely to open on a negative gaped down with 0.25 paisa and now the pair has violated the supports of 67.70 spot so likely face strong resistance near that levels but due to budget likely to trade volatile.
Fundamental Overview
US dollar index is trading at 99.60, depreciating against the majors after comments from US president Trump about devaluation of currencies by China and Japan. There were also comments about Germany taking advantage of a weaker euro. Economic data was also weak, adding to the downward pressure on the dollar. FOMC statement would be in focus and a hawkish FED will help the dollar recover some ground.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:45 USD ADP Nonfarm Employment Change (Jan) 165K 153K
20:15 USD Manufacturing PMI (Jan) 55.1 55.1
20:30 USD ISM Manufacturing Employment (Jan) 53.1 52.8
20:30 USD ISM Manufacturing PMI (Jan) 55 54.5
21:00 USD Crude Oil Inventories 3.063M 2.840M
21:00 USD Cushing Crude Oil Inventories -0.284M
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Fundamental Overview
US dollar index is trading at 99.60, depreciating against the majors after comments from US president Trump about devaluation of currencies by China and Japan. There were also comments about Germany taking advantage of a weaker euro. Economic data was also weak, adding to the downward pressure on the dollar. FOMC statement would be in focus and a hawkish FED will help the dollar recover some ground.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:45 USD ADP Nonfarm Employment Change (Jan) 165K 153K
20:15 USD Manufacturing PMI (Jan) 55.1 55.1
20:30 USD ISM Manufacturing Employment (Jan) 53.1 52.8
20:30 USD ISM Manufacturing PMI (Jan) 55 54.5
21:00 USD Crude Oil Inventories 3.063M 2.840M
21:00 USD Cushing Crude Oil Inventories -0.284M