USDINR OUTLOOK Today :31.08.2016

USDINR  OUTLOOK Today :31.08.2016

NIFTY Fut TREND : BUY ZONE
BANKNIFTY Fut   : BUY ZONE
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Above is the Daily Chart of USDINR, the pair after opening at 67.43and made a high of 67.45 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 support in the pair on spot basis and any dip can be utilized to go long in the pair and short term resistance will come around 67.40 levels

Fundamental Overview

US dollar index is trading at 95.93, continuing with the appreciating trend as markets continue to anticipate a rate hike from the US FED in the near term. Uptick in the consumer confidence data reported during the US session also added to the dollar demand. ADP employment data due to be published today, will give an indication about non farm data due to be reported on Friday. Expect the US dollar to remain bid for the day.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:30:00 PM USD FOMC Member Kashkari Speaks
5:45:00 PM USD
ADP Nonfarm Employment Change
(Aug) 175K 179K
7:15:00 PM USD Chicago PMI (Aug) 54 55.8
7:30:00 PM USD Pending Home Sales (MoM) (Jul) 0.60% 0.20%
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