USDINR TECHNICAL OUTLOOK : 07.02.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Fundamental Overview
US dollar index is trading at 100.05, failing to move past the 100 mark in yesterday’s session. There was no economic data that was reported yesterday but risk aversion arising out of the political uncertainty and inaction from the Trump administration in the fiscal policy front led to some demand for the dollar. Trade balance data on tap today and a lower reading will prompt speculators to believe that the Trump administration would like to push the dollar lower.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
03:00:00 USD FOMC Member Harker Speaks
19:00:00 USD Trade Balance (Dec) -45.00B -45.20B
20:30:00 USD JOLTs Job Openings (Dec) 5.568M 5.522M
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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USDINR, the pair after opening at 67.40 made a high of 67.40 and could not sustain the higher levels and made a low of 67.28 and was trading side wise after continuation of its short term trend, the pair is likely to trade with side wise action during the day before tomorrow RBI policy.Fundamental Overview
US dollar index is trading at 100.05, failing to move past the 100 mark in yesterday’s session. There was no economic data that was reported yesterday but risk aversion arising out of the political uncertainty and inaction from the Trump administration in the fiscal policy front led to some demand for the dollar. Trade balance data on tap today and a lower reading will prompt speculators to believe that the Trump administration would like to push the dollar lower.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
03:00:00 USD FOMC Member Harker Speaks
19:00:00 USD Trade Balance (Dec) -45.00B -45.20B
20:30:00 USD JOLTs Job Openings (Dec) 5.568M 5.522M