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Daily Market Reflection

24 th August 2016
Market Outlook

USDINR

The Rupee appreciated further by 11 paise to 66.80 against the


American currency in late morning deals on sustained bouts of
dollar selling by exporters and banks amid rallying domestic
equities. Overseas, Dollar held steady against its major rivals in
early trade with its near-term fortunes riding on whether US jobs
data will rekindle expectations for the Fed Reserve to raise interest
rates this year.
The Euro area economy continued to expand at a steady pace in
August. At 53.3, up from 53.2 in July, the flash estimate of the
Markit Eurozone PMI inched up to a seven-month high.
Fundamental News
Asian currencies edge higher as dollar loses momentum.
Dollar dips against yen, kiwi surges.
Eurozone Flash PMI edges up to seven-month high.
German output growth slows as service providers report
weakest expansion for 15 months.
French private sector output rises at fastest rate in ten
months.
Currency Future
Currency
Date
Date
% Chg

22-08-16

23-08-16

USDINR

67.2650

67.1200

-0.22%

EURINR

75.9750

76.0700

+0.13%

GBPINR

88.1025

88.5275

+0.48%

JPYINR

66.8650

66.9725

+0.16%

Event Calendar (24th August 2016)


Time
Currency Event

Forecast

Previou
s

7:00am

AUD

Construction Work Done


q/q

-1.9%

-2.6%

11:30am

EUR

German Final GDP q/q

0.3%

0.4%

2:00pm

GBP

BBA Mortgage Approvals

38.5K

40.1K

6:30pm

EUR

Belgian NBB Business


Climate

1.1

1.0

6:30pm

USD

HPI m/m

0.3%

0.2%

7:30pm

USD

Existing Home Sales

5.55M

5.57M

Reference Rate
Currency Date
22-08-16
USDINR
67.1940
EURINR
75.8083
GBPINR
87.6747
JPYINR
66.6700

Date
23-08-16
67.0885
76.0381
88.2885
67.0300

%
Change
-0.15%
+0.30%
+0.70%
+0.53%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
67.0887

Prev
Close

%
Chg

67.1862

Dollar Index

94.4100

94.5200

Euro

1.1326

1.1330

+0.14
%
+0.11
%
+0.03
%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1339.1 1336.21
-0.21%
1
Silver
18.96
18.93
-0.15%
Crude
46.87
46.77
-0.21%
Copper
2.1218 2.1353
+0.63%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
23/08 GBPINR 88.250
0
Trifid special
Date Currenc Entry
y
19/0 EURINR 75.540
8
0

Exit

P/L

88.490
0

4800

Exit

P/L

75.840
0

12000

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Overview
USDINR

EURINR

USDINR traded in subdued manner for the whole session


in a limited range and closed with negative bias.

EURINR was able to sustain above 76.0000 mark for the


entire session and closed above it.

If it closes below 67.0000 mark in the coming session


then it may drop towards the next support of 66.8000
while 67.3000 is seen as major resistance.

Strength is seen in the counter till it maintains above


76.0000 and may lead towards 76.3000 whereas
76.8000 is seen as immediate support.

R1
67.3000

R1

R2

S1

S2

76.2000

76.4000

75.9000

75.7000

R2
67.5000

S1
67.0000

S2
66.8000

GBPINR

JPYINR

GBPINR extended the short bull rally which it is going


through in last few sessions.

JPYINR again sustained at higher levels but could not


close above the strict resistance on daily charts.

It may lead towards the resistance of 89.0000-89.3000 if it


sustains above 88.3000. On lower side, 87.7000 is seen
as near support for the currency pair.

If it holds above 67.0000 then it may move northwards


towards 67.4000 while 66.5000 may act as key support
for the counter.

R1
88.7000

R1
67.1000

R2
88.9000

S1
88.3000

S2
88.1000

R2
67.3000

S1
66.8000

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S2
66.6000

Intraday Super Star


(Premium Section)

USDINR found stiff resistance at higher levels and closed at lower levels. In the coming session, the currency pair is
expected to extend the bears on lower sides.
SELL BELOW 67.1050 TARGETS 66.9850/66.8650 SL 67.3050.

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Trifid Special
(Premium Section)

EURINR extended the bulls towards the key resistance as shown in the daily chart above and now positive momentum
can be seen further if it sustains above it.
BUY ABOVE 76.0500 TARGET 76.3500 SL 75.5500.

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