USDINR TECHNICAL OUTLOOK : 02.09.2016
NIFTY Fut : SELL ZONE
BANKNIFTY Fut : SELL ZONE
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Above is the Daily Chart of USDINR, the pair after opening at 67.35and made a high of 67.35 and trading side wise to negative and now after yellen speech the pair started to appreciate as pair breaking out few days back now 67.00 (SPOT)- will act as a strong resistance in the pair as this becomes the physiological level, but intraday range would be 66.60-66.95
Fundamental Overview
US dollar index is trading at 95.64, losing some ground against the majors after a weaker than expected manufacturing PMI data was reported yesterday. Investors would now hinge there expectations for a rate hike on the non-farm payrolls data due to be reported today. A reading close to 200k jobs being added would shoot the dollar higher but a weaker report would drag the dollar index below 94.50.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
6:00:00 PM USD Average Hourly Earnings (MoM) (Aug) 0.20% 0.30%
6:00:00 PM USD Nonfarm Payrolls (Aug) 180K 255K
6:00:00 PM USD Participation Rate (Aug) 0.628
6:00:00 PM USD Private Nonfarm Payrolls (Aug) 178K 217K
6:00:00 PM USD Trade Balance (Jul) -42.70B -44.50B
6:00:00 PM USD Unemployment Rate (Aug) 4.80% 4.90%
7:30:00 PM USD Factory Orders (MoM) (Jul) 2.00% -1.50%
NIFTY Fut : SELL ZONE
BANKNIFTY Fut : SELL ZONE
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Above is the Daily Chart of USDINR, the pair after opening at 67.35and made a high of 67.35 and trading side wise to negative and now after yellen speech the pair started to appreciate as pair breaking out few days back now 67.00 (SPOT)- will act as a strong resistance in the pair as this becomes the physiological level, but intraday range would be 66.60-66.95
Fundamental Overview
US dollar index is trading at 95.64, losing some ground against the majors after a weaker than expected manufacturing PMI data was reported yesterday. Investors would now hinge there expectations for a rate hike on the non-farm payrolls data due to be reported today. A reading close to 200k jobs being added would shoot the dollar higher but a weaker report would drag the dollar index below 94.50.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
6:00:00 PM USD Average Hourly Earnings (MoM) (Aug) 0.20% 0.30%
6:00:00 PM USD Nonfarm Payrolls (Aug) 180K 255K
6:00:00 PM USD Participation Rate (Aug) 0.628
6:00:00 PM USD Private Nonfarm Payrolls (Aug) 178K 217K
6:00:00 PM USD Trade Balance (Jul) -42.70B -44.50B
6:00:00 PM USD Unemployment Rate (Aug) 4.80% 4.90%
7:30:00 PM USD Factory Orders (MoM) (Jul) 2.00% -1.50%
