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USD/JPY TECHNICAL OUTLOOK:4.11.2016

USD/JPY TECHNICAL OUTLOOK:4.11.2016
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BANKNIFTY FUT TREND : SELL ZONE

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USD/JPY. Pair after opening at 104.02 and made HIGH of 102.17 and could not sustain the higher levels of 105 mark the pair now violated the crucial supports of 104 mark so now the supports will become resistance and pair is likely to see supply in that region intraday utilize the rise to sell the pair.

Fundamental Overview

Yen is trading at 103.03, with limited change in the previous day as investors remained on the sidelined. 102.50 acted as a strong support as markets have priced in the uncertainty to an extent. With only a few days remaining for the elections, nervousness to drive Yen towards 102.00 again.

GBP/USD TECHNICAL OUTLOOK:4.11.2016

GBP/USD TECHNICAL OUTLOOK:4.11.2016
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GBP/USD. Pair after opening at 1.2244 made a high of 1.2322, and seen some buying from the lower levels near 1.2270 levels but the pair was finding resistance at 1.2340 and the pair is trading in a broader range of 1.24-1.2200 with oscillator front RSI remains oversold so likely to see some volatility going ahead in the above mentioned range.

Fundamental Overview

Pound is trading at 1.2477, appreciating considerably against all the majors after the British High court decided that the parliament would need to take a call on when to invoke article 50. Pound rallied with the news as this decision would delay Brexit and could soften the negotiations with EU. Expect this positive trend in pound to continue for the day.

EUR/USD TECHNICAL OUTLOOK:4.11.2016

EUR/USD TECHNICAL OUTLOOK:4.11.2016
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EUR/USD. Pair after opening at 1.1049 Made a high of 1.1123 and traded with some trending to positive bias the pair had strong fall from the levels of 1.15 and fall below the supports of 1.10 mark and now is trading above the supports so if the pair able to maintain above the 1.10 mark likely to test the higher levels with MACD indicators giving crossover.

Fundamental Overview

Euro is trading at 1.1094, failing to sustain above the 1.11 mark in yesterday’s session. Euro was also sold against the Pound which rallied after the Brexit related news. Expect a range bound trade for the day and the shared currency would be influenced by the US election uncertainty.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
2:20:00 PM EUR French Services PMI (Oct) 52.1
2:25:00 PM EUR German Services PMI (Oct) 54.1
2:30:00 PM EUR Markit Composite PMI (Oct) 53.7
2:30:00 PM EUR Services PMI (Oct) 53.5

USDINR TECHNICAL OUTLOOK:4.11.2016

USDINR TECHNICAL OUTLOOK:4.11.2016
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USDINR, the pair after opening at 67.00 and made a high of 67.03 and had side wise session to a narrow range bar that suggest bulls and bears are in tug of war, for past many weeks and the pair is trading in the range of 66.60-67.00 levels for past many days on spot basis , and trend is likely to be the same for the day.

Fundamental Overview

US dollar index is trading at 97.27, little changed from the previous days levels as investors remained nervous before the US elections. Markets are highly anxious about a Trump win, which could disrupt the current set up cross the globe. Non-farm payrolls may induce some volatility but markets are likely to remain on the sidelines till the election results are out.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
6:00:00 PM USD
Average Hourly Earnings (MoM) (Oct)
0.20% 0.20%
6:00:00 PM
USD Nonfarm Payrolls (Oct)
170K 156K
6:00:00 PM
USD Private Nonfarm Payrolls (Oct)
160K 167K
6:00:00 PM
USD Unemployment Rate (Oct)
4.90% 5.00%

Rupee opens flat at 66.73 per dollar:4.11.2016

Rupee opens flat at 66.73 per dollar:4.11.2016
The USD-INR pair is moving in a very narrow range and is expected to remain in range of 66.60-66.75/dollar, HDFC.
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The Indian rupee has opened flat at 66.73 per dollar on Friday against previous day's closing of 66.74 a dollar. HDFC said, "The USD-INR pair is moving in a very narrow range and is expected to remain in range of 66.60-66.75/dollar." The dollar clawed back some lost ground against the yen, rising 0.2 percent to 103.17 and pushing away from the previous session's one-month low of 102.54 yen, though still down 1.5 percent for the week. The euro edged down 0.1 percent to USD 1.1099, up about 1 percent for the week. The dollar index, which tracks the greenback against a basket of six rival currencies, stood at 97.177 , down 1.2 percent for the week and not far from a more than three-week low of 97.041 struck overnight. The pound was a stand-out performer overnight, rising to a nearly one-month high of USD 1.2494 on Thursday after a British court ruled that the government needs parliamentary approval to start the process of leaving the European Union. That could potentially delay Prime Minister Theresa May's Brexit plans. The pound also got a boost from the Bank of England, which scrapped its plan to cut interest rates and ramped up its forecasts for growth. Sterling was last up 0.1 percent at USD 1.2471, poised to gain 2.3 percent for the week.

Rupee seen between 66.60-66.75/USD range:4.11.2016

Rupee seen between 66.60-66.75/USD range:4.11.2016
The 10-year benchmark bond yield is expected to remain within the 6.80-6.83 percent range, HDFC Bank.
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"The USD-INR pair is moving in a very narrow range and is expected to remain in range of Rs 66.60-66.75/USD." He further said, "The 10-year benchmark bond yield is expected to remain within the 6.80-6.83 percent range."

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