USDINR TECHNICAL OUTLOOK : 7.3.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Fundamental Overview
US dollar index is trading at 101.66, remaining largely unchanged for most of the day yesterday. Lack of any major economic data kept investors on the sidelines. US dollar remained upbeat after the late sell off that was seen on Friday. Non-farm payrolls and the FED decision next week will be the key catalysts for the US dollar and the FX markets for the next few sessions. As for today, we expect another range bound session.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
1:30 USD FOMC Member Kashkari Speaks
19:00 USD Trade Balance (Jan) -48.50B -44.30B
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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USDINR, Opening at 66.05 pair made a low of 66.98 and saw the pair trading side wise was waiting for yellan optimistic speech where see gave a hint of future rate high and today likely to open on mildly negative and we can see 66.60spot will act as strong support and resistance comes at 67.00 levels so until the pair breaks out from the consolidation zone likely to see some side wise.Fundamental Overview
US dollar index is trading at 101.66, remaining largely unchanged for most of the day yesterday. Lack of any major economic data kept investors on the sidelines. US dollar remained upbeat after the late sell off that was seen on Friday. Non-farm payrolls and the FED decision next week will be the key catalysts for the US dollar and the FX markets for the next few sessions. As for today, we expect another range bound session.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
1:30 USD FOMC Member Kashkari Speaks
19:00 USD Trade Balance (Jan) -48.50B -44.30B