USDINR TECHNICAL OUTLOOK : 16.3.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Fundamental Overview
US dollar index is trading at 100.41. US dollar has reversed from the levels of 101.42 after Fed has raised interest rates for the first time this year by 25 basis points. Fed chair Janet Yellen failed to deliver hawkish comments in yesterdays policy meeting, where the investor were expecting Fed to sound hawkish and give indications for 4 hikes this year despite Fed’s dot plot of 3 hikes. With a March rate hike already priced in we have seen profit booking coming in US dollar and fell to a month’s low of 100.25. Today markets would be focusing on Initial jobless claims, Philadelphia Fed Manufacturing Index and JOLTs Job Opening data.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00 USD Building Permits (Feb) 1.260M 1.285M
18:00 USD Building Permits (MoM) (Feb) -2.60% 4.60%
18:00 USD Housing Starts (MoM) (Feb) 1.40% -2.60%
18:00 USD Housing Starts (Feb) 1.260M 1.246M
18:00 USD Initial Jobless Claims 240K 243K
18:00 USD Philadelphia Fed Manufacturing Index (Mar) 30 43.3
18:00 USD Philly Fed Employment (Mar) 11.1
19:30 USD JOLTs Job Openings (Jan) 5.450M 5.501M
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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USDINR, After Opening at 65.88 made a high of 65.95 and traded with a negative bias after opening lower the pair after violating the supports of 66.04 had a steep fall and today again likely to gap down with 0.30 paisa and the trend is likely to continue with some negative bias so utilize sell on rise strategy in the pairFundamental Overview
US dollar index is trading at 100.41. US dollar has reversed from the levels of 101.42 after Fed has raised interest rates for the first time this year by 25 basis points. Fed chair Janet Yellen failed to deliver hawkish comments in yesterdays policy meeting, where the investor were expecting Fed to sound hawkish and give indications for 4 hikes this year despite Fed’s dot plot of 3 hikes. With a March rate hike already priced in we have seen profit booking coming in US dollar and fell to a month’s low of 100.25. Today markets would be focusing on Initial jobless claims, Philadelphia Fed Manufacturing Index and JOLTs Job Opening data.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00 USD Building Permits (Feb) 1.260M 1.285M
18:00 USD Building Permits (MoM) (Feb) -2.60% 4.60%
18:00 USD Housing Starts (MoM) (Feb) 1.40% -2.60%
18:00 USD Housing Starts (Feb) 1.260M 1.246M
18:00 USD Initial Jobless Claims 240K 243K
18:00 USD Philadelphia Fed Manufacturing Index (Mar) 30 43.3
18:00 USD Philly Fed Employment (Mar) 11.1
19:30 USD JOLTs Job Openings (Jan) 5.450M 5.501M
