USDINR TECHNICAL OUTLOOK : 02.03.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
USDINR, Opening at 66.99 made a high of 67.11 and saw the pair trading with a positive after trading above the67 levels, the pair has taken supports of 66.60 spot levels and we are seeing divergence between te price and indicators and if sustain above 66.60 spot levels then the pair can likely to test the levels of 67 spot levels in the near term.
Fundamental Overview
US dollar index is trading at 101.91, continuing to remain bullish after the sober speech from US President Donald Trump. Bets of rate hikes in the March meeting also kep the US dollar afloat against all the majors. Fed beige book gave no new insights while manufacturing and personal spending were reported a tad lower than expectations. Weekly jobless claims are to be reported today and we expect the US dollar index to face some resistance near 102.00 levels but will eventually be taken out.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00 USD Initial Jobless Claims 243K 244K
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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USDINR, Opening at 66.99 made a high of 67.11 and saw the pair trading with a positive after trading above the67 levels, the pair has taken supports of 66.60 spot levels and we are seeing divergence between te price and indicators and if sustain above 66.60 spot levels then the pair can likely to test the levels of 67 spot levels in the near term.
Fundamental Overview
US dollar index is trading at 101.91, continuing to remain bullish after the sober speech from US President Donald Trump. Bets of rate hikes in the March meeting also kep the US dollar afloat against all the majors. Fed beige book gave no new insights while manufacturing and personal spending were reported a tad lower than expectations. Weekly jobless claims are to be reported today and we expect the US dollar index to face some resistance near 102.00 levels but will eventually be taken out.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00 USD Initial Jobless Claims 243K 244K