Daily Market Reflection

05thJuly 2016
Market Outlook

USDINR

The Rupee rose 12 paise to 67.18 against the US dollar in early

trade on Monday in line with a firm trend in other Asian currency
markets. Most emerging Asian currencies rose on Monday in
subdued trading as investors continued to seek the region's higher
yields on expectations that central banks in developed countries
may ease monetary policies.
China's yuan kept failing to ride on the trend and touched its
weakest since December 2010 as a lack of signs of intervention to
prop up the renminbi indicated the central bank would tolerate a
further weakening of the currency.
Fundamental News

Yield-hunting lifts Asia FX, but yuan hits new 5-1/2-yr low.
Aussie dlr recovers from shaky start as calm returns to
currency markets.
Industrial producer prices up by 0.6% in both euro area
and EU28.
UK construction PMI signals weakest performance for
seven years in June.

Currency Future
Currency
Date

Date

% Chg

01-07-16

04-07-16

USDINR

67.6050

67.5000

-0.16%

EURINR

75.1975

75.1100

-0.12%

GBPINR

90.0200

89.6225

-0.44%

JPYINR

65.8600

65.7550

-0.16%

Event Calendar (05th July 2016)

Time
Currency
Event

Forecast

Previous

12:45pm

EUR

Spanish Services PMI

55.2

55.4

1:20pm

EUR

French Final Services

PMI

49.9

49.9

2:00pm

GBP

Services PMI

53.1

53.5

2:30pm

EUR

Retail Sales m/m

0.6%

0.0%

3:30pm

GBP

BOE Gov Carney

Speaks

7:30pm

USD

Factory Orders m/m

Reference Rate
Currency Date
Date
01-07-16 04-07-16
USDINR
67.4410 67.1848
EURINR
74.7449 74.8304
GBPINR
89.5482 89.3020
JPYINR
65.6700 65.4700

%
Change
-0.003%
+0.001%
-0.002%
-0.003%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
67.2575

Prev
Close

% Chg

67.3200

Dollar Index

95.7300

95.7200

Euro

1.1131

1.1138

0.09%
+0.01
%
0.06%

Global Commodities
Commodit Close
Prev.Clos
y
e
Gold
1351.6 1345.90
1
Silver
20.30
20.28
Crude
49.10
48.94
Copper
2.2280 2.2235
Our Previous calls update
Intraday super star
Date Currenc Entry
y
04/07 GBPINR 89.810
0
Trifid special
Date Currenc Entry
y
30/0 JPYINR 66.350

% Chg
+0.42%
+0.09%
+0.32%
+0.20%

Exit

P/L

89.570
0

4800

Exit

P/L

66.050

1200

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Overview
USDINR

EURINR

USDINR has been continuously falling since last four

sessions and closed again on a weak note.

EURINR is moving indecisively as it is

consolidating in a range since last few sessions.

On daily charts, it took exact support of 100 day SMA and

now it may slip towards 67.2000 if it sustains below this
support while 67.8000 is seen as major resistance.

Now, if it surpasses the immediate resistance of 75.3000

then it may show some up move while 74.7000 can be a
good support level.

R1
67.7000

R1

R2

S1

S2

75.3000

75.5000

75.0000

74.8000

R2
67.9000

S1
67.3000

S2
67.1000

mainly

GBPINR

JPYINR

GBPINR broke the crucial support level of 89.7400 as

seen on daily charts and closed below it.

JPYINR is moving in a specific range and not able to

show any major movements.

Now, 89.0000 will be seen as the next important support

while 90.7500 will act as srict resistance on any correction
towards higher side.

It tested near to the important support of 65.5400 as

seen on daily charts and any closing below it can result
in selling pressure for the counter while 66.3000 is seen
as resistance.

R1
89.8000

R1
65.9000

R2
90.0000

S1
89.4000

S2
89.2000

R2
66.1000

S1
65.5000

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S2
65.3000

Intraday Super Star

(Premium Section)

USDINR fell aggressively since last few successive sessions and is expected to continue the bears if it sustains below
the mentioned level.
SELL BELOW 67.3900 TARGETS 67.2700/69.1500 SL 67.5900.

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Trifid Special
(Premium Section)

GBPINR closed below the important support mark on daily charts indicating weak trend to continue. Hence, further sell
offs can be seen in this counter.
SELL BELOW 89.4600 TARGET 89.1600 SL 89.9600.

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