Monday, March 20, 2017

USDINR Intraday Outlook : 21.3.2017

USDINR Intraday Outlook : 21.3.2017
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE

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With the FED’s rate guidance last week proving to be less hawkish than many had expected, the Dollar is expected to trade a bit defensive first half today. Markets will be looking forward to the FED messaging with almost 9 policy makers speaking this week. FX trade took a bit of a breather in N.Y. trade on Friday, with most major dollar pairings consolidating following USD losses seen earlier in the week. Dollar direction was mostly sideways, as witnessed by a near unchanged close in the DXY. Incoming U.S. data was mixed, as industrial production was light, while Michigan sentiment beat expectations. There is no data for the day from the U.S., but FOMC member Evans is due to deliver a speech on current economic conditions & monetary policy, which if hawkish will drive
the currency.
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