USDINR TECHNICAL OUTLOOK : 14.3.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Fundamental Overview
The Dollar yesterday was quiet as trades in a narrow range dominated. There was no data to move the
market and the dollar overall was mixed. The same is expected to continue for dollar against most of the majors ahead of the FOMC meet due on Wednesday where a 25 bps rate hike is largely priced in. Against the INR the currency has depreciated in the offshore markets as the traders looked upon the BJP win in the state elections to boost the domestic equity markets in the next couple of sessions. USDINR though, is expected to find some supports at 66 levels expecting some dollar buying on account of import payments, as the pair has moved out of a tight range after quite a long time.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00 USD Core PPI (MoM) (Feb) 0.20% 0.40%
18:00 USD PPI (MoM) (Feb) 0.10% 0.60%
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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USDINR, Opening at 66.80 the pair made a high of 66.88 and saw the pair trading range bound during the few hours of the day and last hour the day the pair saw some selling coming in and today likely to open on a gap down and likely to continue its trend until we see any intervention or importers starts to buy.Fundamental Overview
The Dollar yesterday was quiet as trades in a narrow range dominated. There was no data to move the
market and the dollar overall was mixed. The same is expected to continue for dollar against most of the majors ahead of the FOMC meet due on Wednesday where a 25 bps rate hike is largely priced in. Against the INR the currency has depreciated in the offshore markets as the traders looked upon the BJP win in the state elections to boost the domestic equity markets in the next couple of sessions. USDINR though, is expected to find some supports at 66 levels expecting some dollar buying on account of import payments, as the pair has moved out of a tight range after quite a long time.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00 USD Core PPI (MoM) (Feb) 0.20% 0.40%
18:00 USD PPI (MoM) (Feb) 0.10% 0.60%