USDINR TECHNICAL OUTLOOK : 09.02.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Fundamental Overview
US dollar index is trading at 100.31, managing to stay above the 100 mark after dropping from above 100.60 levels in yesterday’s session. Sharp drop in the treasury yields and a weak wall street dragged on the dollar. Fall in crude prices after inventory build-up added to the weakness in US equities and the dollar. Expect the currency pairs to continue trading in these ranges for the short term with focus today on weekly jobs data and US bond yields.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00 USD Initial Jobless Claims 250K 246K
19:40 USD FOMC Member Bullard Speaks
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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USDINR, the pair after opening at 67.49 made a high of 67.52 and could not sustain the higher levels and reversed and closed lower signifies weakness in ongoing trend the pair after no rate cut from Indian monetary policy could not bounce and continues its short term trend now likely to open near 67.07 Spot but going ahead 66.80 will act as a support.Fundamental Overview
US dollar index is trading at 100.31, managing to stay above the 100 mark after dropping from above 100.60 levels in yesterday’s session. Sharp drop in the treasury yields and a weak wall street dragged on the dollar. Fall in crude prices after inventory build-up added to the weakness in US equities and the dollar. Expect the currency pairs to continue trading in these ranges for the short term with focus today on weekly jobs data and US bond yields.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00 USD Initial Jobless Claims 250K 246K
19:40 USD FOMC Member Bullard Speaks