USDINR TECHNICAL OUTLOOK : 8.12.2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
USDINR, the pair after opening at 67.90 and made a high of 68.09 and saw some volatile session but the pair could not sustain the buying interest after the RBI policy and gave away its gains and violated the crucial supports of 68 levels , the pair has seen sharp selling from 68.86 and now we expect further selling to continue.
Fundamental Overview
US dollar index is trading at 100.03, continuing to trend lower as markets continued to doubt the US dollar strength. There was no economic data from the US but expectations of tightening from the ECB drove the dollar lower. Bond yields too continued to cool off adding to the US dollar weakness. Expect the trend to continue till after the ECB meeting and then focus would shift to the FOMC meeting on Wednesday next week.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
7:00:00 PM USD Initial Jobless Claims 258K 268K
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Fundamental Overview
US dollar index is trading at 100.03, continuing to trend lower as markets continued to doubt the US dollar strength. There was no economic data from the US but expectations of tightening from the ECB drove the dollar lower. Bond yields too continued to cool off adding to the US dollar weakness. Expect the trend to continue till after the ECB meeting and then focus would shift to the FOMC meeting on Wednesday next week.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
7:00:00 PM USD Initial Jobless Claims 258K 268K