USDINR TECHNICAL OUTLOOK : 17.3.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Fundamental Overview
US dollar index is trading at 100.07, trading near to one month low. Less than expected hawkish comments FOMC announcement weighed on US dollar and to weaken against basket of currencies. Incoming U.S. data was better than expected, as housing starts and the Philly Fed index beat forecasts, while jobless claims were in-line with expectations. Expectations for a June hike also increased slightly to 53.5%. Clearly investors don’t want to give up on the long dollar trade but it will be some time before there’s enough data to convince the Fed to move in June instead of September. US Industrial Production number would on focus but might not have major impact.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:45 USD Industrial Production (MoM) (Feb) 0.20% -0.30%
19:30 USD Michigan Consumer Expectations (Mar) 85.5 85.7
19:30 USD Michigan Consumer Sentiment (Mar) 97 95.7
23:30 USD U.S. Baker Hughes Oil Rig Count 617
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
USDINR, Opening at 65.50 the pair made low of 65.30 and saw the pair halting there after falling for consecutive days, the pair had taken support and bounced till the levels of 65.60 yesterday’s highs, and today likely to open on a negative note with 0.10 paisa down, likely to see some side wise activity trading happening in the pair with today range of 65.30-65.65 but as the pair had violated the supports of 66 any rise in the pair can be utilize to sell the pairFundamental Overview
US dollar index is trading at 100.07, trading near to one month low. Less than expected hawkish comments FOMC announcement weighed on US dollar and to weaken against basket of currencies. Incoming U.S. data was better than expected, as housing starts and the Philly Fed index beat forecasts, while jobless claims were in-line with expectations. Expectations for a June hike also increased slightly to 53.5%. Clearly investors don’t want to give up on the long dollar trade but it will be some time before there’s enough data to convince the Fed to move in June instead of September. US Industrial Production number would on focus but might not have major impact.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:45 USD Industrial Production (MoM) (Feb) 0.20% -0.30%
19:30 USD Michigan Consumer Expectations (Mar) 85.5 85.7
19:30 USD Michigan Consumer Sentiment (Mar) 97 95.7
23:30 USD U.S. Baker Hughes Oil Rig Count 617