Daily Market Reflection

28 thJuly 2016
Market Outlook

USDINR

Indian Rupee pared its initial losses to rebound by 5 paise to 67.22

against the American currency in late morning trade on fresh selling
of dollar by banks and exporters in view of a strong opening in
domestic equities.
Economic growth in the UK grew above expectations in the second
quarter of 2016, with the Britons shrugging-off the Brexit decision.
The UK prelim GDP estimate rose 0.6% q/q in the second quarter of
2016, up from 0.4% booked in the first quarter, while beating
estimates of a rise of 0.5% in June quarter.
Fundamental News

Yen falls on BOJ expectations and fiscal stimulus hopes.

Dollar/yen trims gains after MOF denies report of 50-year
debt issuance.
German Import prices in June 2016: 4.6% on June 2015.
UK economic growth accelerates in Q2, beats estimates.

Currency Future
Currency
Date

Date

% Chg

26-07-16

27-07-16

USDINR

67.6375

67.5125

-0.18%

EURINR

74.4725

74.2900

-0.25%

GBPINR

88.7700

88.5150

-0.29%

JPYINR

64.7725

64.0075

-1.18%

Event Calendar (28th July 2016)

Time
Currency Event

Forecast

Previou
s

11:30am

GBP

Nationwide HPI m/m

0.0%

0.2%

All Day

EUR

German Prelim CPI m/m

0.2%

0.1%

12:30pm

EUR

20.5%

21.0%

1:25pm

EUR

-3K

-6K

Tentative

EUR

Italian 10-y Bond Auction

1.35|1.5

6:00pm

USD

Unemployment Claims

261K

253K

Spanish Unemployment
Rate
German Unemployment
Change

Reference Rate
Currency Date
26-07-16
USDINR
67.3680
EURINR
74.1654
GBPINR
88.1712
JPYINR
64.5800

Date
27-07-16
67.2362
73.8859
88.3013
63.5700

%
Change
-0.19%
-0.37%
+0.14%
-1.56%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
67.1925

Prev
Close

%
Chg

67.2750

Dollar Index

97.2100

97.1700

Euro

1.1000

1.0997

0.12%
+0.04
%
+0.02
%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1320.6 1317.85
+0.21%
5
Silver
19.60
19.53
+0.35%
Crude
42.67
42.85
-0.42%
Copper
2.2031 2.2153
-0.55%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
25/07 USDINR 67.370
0
Trifid special
Date Currenc Entry
y
19/0 EURINR 73.930
7
0

Exit

P/L

67.277
5

-1850

Exit

P/L

73.930
0

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Overview
USDINR

EURINR

USDINR moved in the same range as of previous session

and closed on a flat to negative note.

EURINR is constantly finding resistance at higher levels

and again closed on negative note.

Selling pressure can be seen if it sustains below 100 day

EMA of 67.5900 while 67.8000-68.000 is still acting as
resistance range.

The pair is expected to remain on weaker side till it

sustains below 74.7500 whereas 74.1500 is seen as
immediate support for the pair.

R1
67.4000

R1

R2

S1

S2

74.1000

74.3000

73.7000

73.5000

R2
67.6000

S1
67.1000

S2
66.9000

GBPINR

JPYINR

GBPINR has been moving in sideways manner as it is not

able to surpass any range whether support or resistance
on daily charts.

JPYINR showed sharp downfall after previous hike on

back of BOJ expectations and fiscal stimulus hopes and
closed in red.

On lower side, 88.2500 is seen as immediate support

while 89.7000 as key resistance.

Bears will become active on any closing below 63.5500

while 64.4000-64.6000 is seen as resistance range.

R1
88.4000

R1
63.9000

R2
88.6000

S1
88.0000

S2
87.8000

R2
64.1000

S1
63.5000

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S2
63.3000

Intraday Super Star

(Premium Section)

JPYINR after a strong jump in the previous session underwent correction on lower side. But, it is expected to again show
recovery from bottoms in the coming session.
BUY ABOVE 64.3300 TARGETS 64.4500/64.5700 SL 64.0300.

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Trifid Special
(Premium Section)

GBPINR has been constantly hovering around the immediate key supports as seen on daily charts and the counter is
expected to breach and fell on lower side.
SELL BELOW 88.3300 TARGET 88.0300 SL 88.8300.

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