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Market Outlook
Rupee slipped against the greenback in the beginning of the session and
remained sideways to negative for the rest of the session.
Major happening for the cross currency market was that Yen tested 18
month highs against dollar after its biggest weekly gain in over seven
years. Some other key economic indicators which released are as follows:
German Manufacturing PMI rises to three - month high as new order
growth ticks higher, French manufacturing sector downturn deepens
amid sharper fall in new orders, Italian Manufacturing sector sees
strongest growth for four months in April.
Fundamental News
India's forex reserves continue to rise, reached a record
high of $361.6bn.
Yen hits 18-month high vs dollar as Japan seen in policy
bind.
Euro Zone Growth remains lacklustre as French downturn
deepens.
Swiss retail trade turnover falls by 2.4%.
Date
Date
29-04-16
02-05-16
USDINR
66.6650
66.7825
0.18%
EURINR
75.9700
76.6000
0.83%
GBPINR
97.4225
97.6975
0.28%
JPYINR
62.1800
62.5900
0.66%
Currency
Event
Previous
CNY
49.8
49.7
2:00am
GBP
Manufacturing PMI
51.3
51.0
2:30pm
EUR
PPI m/m
0.1%
-0.7%
USD
IBD/TIPP Economic
Optimism
46.6
46.3
USD
17.3m
16.6m
8:00pm
All Day
USD
Date
%
Change
02-05-16
66.3435 -0.26%
76.0562 0.43%
97.0207 0.19%
62.3100 0.56%
Close
(5:00pm)
66.4138
92.90
1.1480
1.4634
106.63
Prev
Close
66.3938
93.08
1.1481
1.4629
106.62
% Chg
0.03%
-0.19%
-0.08%
0.03%
0.00%
Global Commodities
7:15am
7:30am
USDINR
EURINR
GBPINR
JPYINR
Rupee
Dollar Index
Euro
Pound
Japnese Yen
% Chg
Forecast
Date
29-04-16
66.5175
75.7303
96.8310
61.9600
Currency
Currency
Currencies vs $
Currency Future
Currency
Reference Rate
Commodity
Gold
Silver
Crude
Copper
Close
1298.53
17.86
45.83
2.2725
Prev.Close
1291.66
17.70
45.46
2.2698
% Chg
0.53%
0.90%
0.81%
0.11%
Overview
USDINR
EURINR
USDINR after opening flat traded sideways for most part of the
session around its near support as on daily charts but inched
higher in the last hour.
R1
67.0000
R1
R2
S1
S2
76.8000
77.0000
76.4000
76.2000
R2
67.2000
S1
66.6000
S2
66.4000
GBPINR
JPYINR
In this bullish trend for the counter, 98.0000 is still seen as the
crucial resistance while 97.3000 is seen as immediate support
for the counter.
R1
97.9000
R1
62.8000
R2
98.1000
S1
97.5000
S2
97.3000
R2
63.0000
S1
62.3500
S2
62.2000
GBPINR is able to sustain higher on daily charts since last few sessions and now is expected to move towards the trend line acting
as resistance as shown in the chart above.
BUY ABOVE 97.9500 TARGETS 98.1500/98.3500 SL 97.6000.
Trifid Special
(Premium Section)
EURINR gave positive breakout of the triangle pattern as per our previous reports and now is expected to continue its bull run if it
holds above the immediate resistance on daily charts.
BUY ABOVE 76.8350 TARGET 77.1000 SL 76.4500.
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