USDINR TECHNICAL OUTLOOK : 20.09.2016

USDINR TECHNICAL OUTLOOK : 20.09.2016

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Above is the Daily Chart of USDINR, the pair after opening at 67.05 and made a high of 67.08 saw some sidewise session yesterday the pair had strong momentum on the upside and tested levels of 67.27 few days back and now spot in been in the range of 66.75-67.10 for past few days and the trend is likely to continue till FOMC meet

Fundamental Overview

US dollar index is trading at 95.79, remaining unchanged as markets prepare for the September FOMC meeting. There are limited expectations for a rate hike this month but the FED chair Yellen is likely to take up the opportunity to suggest at least one hike this year. US dollar would be the key driver for the currency market with limited economic data to be reported today.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Building Permits (MoM) (Aug) 2.50% -0.10%
18:00:00 USD Building Permits (Aug) 1.170M 1.144M
18:00:00 USD Housing Starts (MoM) (Aug) -1.70% 2.10%
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