USDINR TECHNICAL OUTLOOK : 28.02.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Fundamental Overview
US dollar index is trading at 101.16, remained close to the 101.00 mark for most of the trading session yesterday. Weaker than expected pending home sales data made the dollar drop lower but a hawkish speech from FOMC voting member Kaplan gave a spring board to the US dollar. Markets would be focusing on Trump speech later in the day where he is expected to announce his infrastructure spending plans and an expansive fiscal policy could give the US dollar its required boost.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00 USD GDP (QoQ) (Q4) 2.10% 1.90%
19:00 USD GDP Price Index (QoQ) (Q4) 2.10% 2.10%
19:00 USD Goods Trade Balance (Jan) -66.00B -64.40B
19:30 USD S&P/CS HPI Composite - 20 n.s.a. (YoY) (Dec) 5.30% 5.30%
20:15 USD Chicago PMI (Feb) 53 50.3
20:30 USD CB Consumer Confidence (Feb) 111 111.8
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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USDINR, the pair after at 67.00 made a high of 67.01 and during the day bounced from the lows of 66.88, and traded with a narrow range, the pair has taken a support of 66.60 and there is a divergence between price and indicator signifying bears are losing control and can expect pair can bounce till the levels of 67.00 levels so intraday dips can be utilize to buy the pair.Fundamental Overview
US dollar index is trading at 101.16, remained close to the 101.00 mark for most of the trading session yesterday. Weaker than expected pending home sales data made the dollar drop lower but a hawkish speech from FOMC voting member Kaplan gave a spring board to the US dollar. Markets would be focusing on Trump speech later in the day where he is expected to announce his infrastructure spending plans and an expansive fiscal policy could give the US dollar its required boost.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00 USD GDP (QoQ) (Q4) 2.10% 1.90%
19:00 USD GDP Price Index (QoQ) (Q4) 2.10% 2.10%
19:00 USD Goods Trade Balance (Jan) -66.00B -64.40B
19:30 USD S&P/CS HPI Composite - 20 n.s.a. (YoY) (Dec) 5.30% 5.30%
20:15 USD Chicago PMI (Feb) 53 50.3
20:30 USD CB Consumer Confidence (Feb) 111 111.8