USDINR TECHNICAL OUTLOOK : 17.02.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Fundamental Overview
US dollar index is trading at 100.50, continuing with the depreciating trend despite another set of positive data from the US economy. Weekly jobless claims were reported lower than expected and the Philadelphia manufacturing index was way above expectations. Drop in the bond yields would be the only plausible explanation for a dollar sell off and with limited economic data to be reported today, expect a range bound market.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
00:30:00 USD U.S. President Trump Speaks
23:30:00 USD U.S. Baker Hughes Oil Rig Count 591
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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USDINR, the pair after opening at 66.99 made a low of 66.94 and was trading sidewise in a narrow range but during the last hour the pair has managed to get pass 67.00 levels on spot that was acting as a strong resistance for many days and able to close above it, now 67. will act as a strong support and is likely to trade with a positive bias.Fundamental Overview
US dollar index is trading at 100.50, continuing with the depreciating trend despite another set of positive data from the US economy. Weekly jobless claims were reported lower than expected and the Philadelphia manufacturing index was way above expectations. Drop in the bond yields would be the only plausible explanation for a dollar sell off and with limited economic data to be reported today, expect a range bound market.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
00:30:00 USD U.S. President Trump Speaks
23:30:00 USD U.S. Baker Hughes Oil Rig Count 591