USDINR TECHNICAL OUTLOOK : 10.02.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Fundamental Overview
US dollar index is trading at 100.66, popped up the comments from Trump who said that there would be something about tax cuts in the next 2-3 weeks. Markets took this as a sign of tax cuts and propped the US dollar, equities and Treasury yields. Economic data too was supportive for the dollar, with the jobless claims continuing to fall. Today, the dollar index could test 101.00 as markets would start preparing for a tax cut from Trump.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00 USD Export Price Index (MoM) (Jan) 0.10% 0.30%
19:00 USD Import Price Index (MoM) (Jan) 0.20% 0.40%
20:30 USD Michigan Consumer Expectations (Feb) 89 90.3
20:30 USD Michigan Consumer Sentiment (Feb) 97.9 98.5
23:30 USD U.S. Baker Hughes Oil Rig Count 583
14:30 USD IEA Monthly Report
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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USDINR, the pair after opening at 67.28 made a high of 67.28 and could not sustain the higher levels and had a strong trend day on the down side the pair after violating the support of 66.95 had a strong trending move and likely to open flat but 66.70 on spot is likely to act as a support for the day while resistance comes at 67.00 levels.
Fundamental Overview
US dollar index is trading at 100.66, popped up the comments from Trump who said that there would be something about tax cuts in the next 2-3 weeks. Markets took this as a sign of tax cuts and propped the US dollar, equities and Treasury yields. Economic data too was supportive for the dollar, with the jobless claims continuing to fall. Today, the dollar index could test 101.00 as markets would start preparing for a tax cut from Trump.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00 USD Export Price Index (MoM) (Jan) 0.10% 0.30%
19:00 USD Import Price Index (MoM) (Jan) 0.20% 0.40%
20:30 USD Michigan Consumer Expectations (Feb) 89 90.3
20:30 USD Michigan Consumer Sentiment (Feb) 97.9 98.5
23:30 USD U.S. Baker Hughes Oil Rig Count 583
14:30 USD IEA Monthly Report