USDINR TECHNICAL OUTLOOK : 06.02.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
USDINR, the pair after opening at 67.48 made a high of 67.57 and could not sustain the higher levels and continued its short term trend, the pair after violating the supports of 67.70(spot) fall to 67.20 so any rise for the intraday traders are opportunity to sell.
Fundamental Overview
US dollar index is trading at 99.69, remaining choppy after the non-farm payrolls report on Friday. NFP print was solid at 227k, though the hourly earnings component was weaker than expected. Expectations for a rate hike in the March meeting have slimmed considerably and the next hike expectations have been pushed to June. Data calendar is light for the day but dollar is likely to be tested once again with a view to visit last week’s low.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
20:30:00 USD CB Employment Trends Index (Jan) 129.6
20:30:00 USD Fed Labor Market Conditions Index -30.00%
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Fundamental Overview
US dollar index is trading at 99.69, remaining choppy after the non-farm payrolls report on Friday. NFP print was solid at 227k, though the hourly earnings component was weaker than expected. Expectations for a rate hike in the March meeting have slimmed considerably and the next hike expectations have been pushed to June. Data calendar is light for the day but dollar is likely to be tested once again with a view to visit last week’s low.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
20:30:00 USD CB Employment Trends Index (Jan) 129.6
20:30:00 USD Fed Labor Market Conditions Index -30.00%
