USDINR TECHNICAL OUTLOOK : 18.10.2016
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USDINR, the pair after opening at 66.97 and made a low of 66.99 had a strong session after a profit booking session, the pair had taken a strong support near its 66.60 levels and reversed suggesting demand at lower levels, but supply is coming in at 67.00 levels so likely the pair shall be range bound , till a breakout or breakdown occurs
Fundamental Overview
US dollar index is trading at 97.67, depreciating against the majors after weaker than expected manufacturing and industrial production data was reported yesterday. Comments from FED vice chair person Fischer were mildly hawkish but failed to support the dollar. US reports its inflation data today and this data is unlikely to be market moving. We expect a slow day of trading with the chances of US dollar regaining some ground.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Core CPI (YoY) (Sep) 2.30% 2.30%
18:00:00 USD Core CPI (MoM) (Sep) 0.20% 0.30%
18:00:00 USD CPI (MoM) (Sep) 0.30% 0.20%
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USDINR, the pair after opening at 66.97 and made a low of 66.99 had a strong session after a profit booking session, the pair had taken a strong support near its 66.60 levels and reversed suggesting demand at lower levels, but supply is coming in at 67.00 levels so likely the pair shall be range bound , till a breakout or breakdown occurs
Fundamental Overview
US dollar index is trading at 97.67, depreciating against the majors after weaker than expected manufacturing and industrial production data was reported yesterday. Comments from FED vice chair person Fischer were mildly hawkish but failed to support the dollar. US reports its inflation data today and this data is unlikely to be market moving. We expect a slow day of trading with the chances of US dollar regaining some ground.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Core CPI (YoY) (Sep) 2.30% 2.30%
18:00:00 USD Core CPI (MoM) (Sep) 0.20% 0.30%
18:00:00 USD CPI (MoM) (Sep) 0.30% 0.20%