Wednesday, March 8, 2017

USDINR TECHNICAL OUTLOOK : 9.3.2017

USDINR TECHNICAL OUTLOOK : 9.3.2017
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE

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USDINR, Opening at 66.85 the pair made a low of 66.75 and saw a bounce in the pair in the last hours and today likely to open on a positive note and if sustain above 67.000 levels can expect the pair to follow through in the session but the spot levels has been trading in the range of 66.60-66.95 for, many days so until the pair breakout of the either side expects the same trend should continue.

Fundamental Overview

US Dollar Index is trading at 102.14, moving up from 101.80 levels after the strong U.S. private sector hiring data strengthened the expectations for a Federal Reserve rate hike next week ahead of the government job reports due on Friday. The focus today would be on the Initial claims data to be out today evening expected to reveal a headline increase to 240k from 223k last week and 242k in the week prior.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:00 USD Export Price Index (MoM) (Feb) 0.20% 0.10%
19:00 USD Import Price Index (MoM) (Feb) 0.10% 0.40%
19:00 USD Initial Jobless Claims 235K 223K
19:00 USD Export Price Index (MoM) (Feb) 0.20% 0.10%
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