Daily Market Reflection

27 thJuly 2016
Market Outlook

USDINR

The Rupee depreciated by 7 paise to 67.42 against the dollar in

early trade today on increased demand for the US currency from
importers. Dollar strengthening against other currencies overseas
ahead of closely watched meetings this week at the US and
Japanese central banks weighed on rupee sentiment.
The Yen rose sharply on Tuesday after a drop in oil prices hit
confidence and as investors await the outcome of US and
Japanese central bank meetings. Fed concludes its gathering on
Wednesday and it is not expected to make any big announcement.
Fundamental News

Yen at 2-wk high as Japanese stimulus expectations dialled

back.
Yuan firms against dollar but weakens against currency
basket.
United Kingdom BBA Mortgage Approvals registered at
40.1K, below expectations (40.2K) in June.

Currency Future
Currency
Date

Date

% Chg

22-07-16

25-07-16

USDINR

67.3450

67.2775

-0.10%

EURINR

74.0075

74.0650

+0.08%

GBPINR

88.4275

88.3100

-0.13%

JPYINR

63.3875

64.4400

+1.66%

Event Calendar (27th July 2016)

Time
Currency Event

Forecast

Previou
s

1:30pm

EUR

M3 Money Supply y/y

5.0%

4.9%

2:00pm

GBP

Prelim GDP q/q

0.5%

0.4%

6:00pm

USD

6:00pm

USD

7:30pm

USD

11:30pm

USD

Core Durable Goods

Orders m/m
Durable Goods Orders
m/m
Pending Home Sales
m/m

0.3%

-0.3%

-1.1%

-2.3%

1.9%

-3.7%

FOMC Statement

Reference Rate
Currency Date
25-07-16
USDINR
67.1355
EURINR
74.0303
GBPINR
88.9478
JPYINR
63.4100

Date
26-07-16
67.3680
74.1654
88.1712
64.5800

%
Change
+0.34%
+0.18%
-0.87%
+1.84%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
67.2950

Prev
Close

%
Chg

67.3537

Dollar Index

96.9600

97.2600

Euro

1.1007

1.0987

0.08%
0.30%
+0.18
%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1320.9 1315.74
+0.39%
0
Silver
19.63
19.53
+0.51%
Crude
42.74
43.26
-1.20%
Copper
2.1947 2.2028
-0.36%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
25/07 USDINR 67.370
0
Trifid special
Date Currenc Entry
y
18/0 JPYINR 63.700
7
0

Exit

P/L

67.277
5

-1850

Exit

P/L

63.200
0

-20000

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Overview
USDINR

EURINR

USDINR opened higher above the immediate resistance

but could not sustain above it as it gradually dragged
during the session.

EURINR moved higher against the previous close and

sustained higher.

It needs a closing above 67.4000 to gain strength while

nearest support from current levels is 67.0000.

R1
67.5000

R2
67.7000

S1
67.1000

S2
66.9000

Trend for the counter is still weak so sell on highs can be

seen where resistance is seen around 74.3500 while
support at 73.7000.

R1

R2

S1

S2

74.2000

74.4000

73.9000

73.7000

GBPINR

JPYINR

GBPINR again moved in the same range as of previous

session and closed on a flat note with negative bias.

JPYINR opened higher and crossed the resistance range

of 63.8500 and moved towards the next resistance mark.

Now, on daily charts 87.8000 is still acting as key support

from current levels for the pair while 89.3000 may resist it
to move north wards.

If it maintains above 64.7200 then further up move can

be seen while 63.8000 will now act as important support
for the pair.

R1
88.5000

R1
64.6000

R2
88.7000

S1
88.2000

S2
88.0000

R2
64.8000

S1
64.3000

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S2
64.1000

Intraday Super Star

(Premium Section)

GBPINR continued its sideways to negative trend as seen on daily charts and sell on highs is seen in this counter.
Hence, bears are expected to drag it further towards deeper supports.
SELL BELOW 88.0200 TARGETS 87.9000/87.7800 SL 88.2200.

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Trifid Special
(Premium Section)

EURINR surpassed the key support level on daily charts and closed below it. Weakness is expected till the pair remains
below this support and bears may further drag it towards southward direction.
SELL BELOW 73.9300 TARGET 73.6300 SL 74.4300.

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