USDINR TECHNICAL OUTLOOK:26.10.2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USDINR, the pair after opening at 67.12and made a high of 67.26 and had
side wise session to a narrow range bar that suggest bulls and bears are in tug of war, the pair is trading in the range of 66.60-67.00 levels for past many days on spot basis , and trend is likely to be the same for the day.
Fundamental Overview
US dollar index is trading at 98.72, continuing to remain supported at near term highs after a brief fall
yesterday. Lower than expected consumer confidence numbers dented the US dollars strength but speeches from ECB chairman Draghi and BOE governor Carney led to volatility in the FX space and helped the US dollar recover. With a higher probability of a rate hike in December, expect the US dollar to continue appreciating.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Goods Trade Balance (Sep) -58.40B
19:15:00 USD Services PMI (Oct) 52.3 52.3
19:30:00 USD New Home Sales (Sep) 600K 609K
19:30:00 USD New Home Sales (MoM) (Sep) -1.00% -7.60%
20:00:00 USD Crude Oil Inventories 0.800M -5.200M
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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USDINR, the pair after opening at 67.12and made a high of 67.26 and had
side wise session to a narrow range bar that suggest bulls and bears are in tug of war, the pair is trading in the range of 66.60-67.00 levels for past many days on spot basis , and trend is likely to be the same for the day.
Fundamental Overview
US dollar index is trading at 98.72, continuing to remain supported at near term highs after a brief fall
yesterday. Lower than expected consumer confidence numbers dented the US dollars strength but speeches from ECB chairman Draghi and BOE governor Carney led to volatility in the FX space and helped the US dollar recover. With a higher probability of a rate hike in December, expect the US dollar to continue appreciating.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Goods Trade Balance (Sep) -58.40B
19:15:00 USD Services PMI (Oct) 52.3 52.3
19:30:00 USD New Home Sales (Sep) 600K 609K
19:30:00 USD New Home Sales (MoM) (Sep) -1.00% -7.60%
20:00:00 USD Crude Oil Inventories 0.800M -5.200M
