USDINR TECHNICAL OUTLOOK : 06.09.2016
NIFTY Fut : BUY ZONE
BANKNIFTY FUT : BUY 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, and now violated the major support so intraday rise shall be utilized to sell the pair
Fundamental Overview
US dollar index is trading at 95.74, remaining supported despite the weak non-farm payrolls data on Friday. The US markets remained closed yesterday but the US dollar remained stable. Prospects of a rate hike in September have been lowered significantly after the report but a December rate hike still remains on the cards. Focus would be on the FED beige book and non-manufacturing ISM in the days ahead.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:15:00 USD Markit Composite PMI (Aug) 51.5 51.5
19:15:00 USD Services PMI (Aug) 50.9 50.9
19:30:00 USD ISM Non-Manufacturing Employment (Aug) 51.4
19:30:00 USD ISM Non-Manufacturing PMI (Aug) 55 55.5
NIFTY Fut : BUY ZONE
BANKNIFTY FUT : BUY ZONE
Click Here & Register To Get 2 days Trial Tips
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Fundamental Overview
US dollar index is trading at 95.74, remaining supported despite the weak non-farm payrolls data on Friday. The US markets remained closed yesterday but the US dollar remained stable. Prospects of a rate hike in September have been lowered significantly after the report but a December rate hike still remains on the cards. Focus would be on the FED beige book and non-manufacturing ISM in the days ahead.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
19:15:00 USD Markit Composite PMI (Aug) 51.5 51.5
19:15:00 USD Services PMI (Aug) 50.9 50.9
19:30:00 USD ISM Non-Manufacturing Employment (Aug) 51.4
19:30:00 USD ISM Non-Manufacturing PMI (Aug) 55 55.5
