Friday, April 7, 2017

USDINR Intraday Outlook : 7.4.2017

USDINR Intraday Outlook : 7.4.2017
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE

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The dollar traded higher against a basket of major currencies on Thursday, after the U.S. Department of Labor reported a slower increase in initial jobless claims ahead of a key meeting between U.S. President Donald Trump and Chinese President Xi Jinping. The U.S economy continued to show robust growth, after the U.S. Department of Labor reported that initial jobless claims decreased by 25,000 to 234,000 in the week ending April 1 from the previous week’s revised total of 259,000. The Dollar against INR continues to trade weaker after the RBI policy and selling from Foreign as well as domestic banks fro the last couple of sessions. 64.50 would be watched by traders and a breach to this level will affect the sentiment deeper further.
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