Daily Market Reflection

12th September 2016

Market Outlook

USDINR

The Rupee was trading weak at 66.55 against the US dollar on

increased demand for the American unit from importers and banks.
Besides, strength in the dollar against some other currencies
overseas also weighed on the domestic currency. Rupees fall
increased demand for the US currency and a weak domestic equity
market.
The Office for National Statistics (ONS) published the trade balance
report from the UK economy, showing that the visible trade deficits
narrowed in July, coming on expectations. Trade balance: Actual GBP - 4.5bln vs -4.2bln exp vs -5.56bln prev revised down from
-5.1bln.
Fundamental News

N.Korea nuke test hurts won; Asia FX weekly gains pared

by ECB.
Dollar slips vs yen, on track for weekly losses.
German exports in June 2016: +1.2% on June 2015.
BoK keeps rates unchanged at 1.25%.
Sri Lankan rupee weaker on importer demand.

Currency Future
Currency
Date

Date

% Chg

08-09-16

09-09-16

USDINR

66.5925

66.8450

+0.38%

EURINR

75.2150

75.4000

+0.25%

GBPINR

89.0025

89.0275

+0.03%

JPYINR

65.5025

65.1100

-0.60%

Event Calendar (12th September 2016)

Time
Currency Event

Forecast

Previou
s

5:20 am

JPY

Core Machinery Orders

m/m

8.3%

5:20am

JPY

PPI y/y

-3.9%

-19.7%

11.6%

Prelim Machine Tool

Orders y/y
Italian Quarterly
Unemployment Rate

11:30am

JPY

1:30pm

EUR

7:00pm

GBP

CB Leading Index m/m

-0.3%

10:30pm

USD

FOMC Member Brainard

Speaks

Reference Rate
Currency Date
08-09-16
USDINR
66.4483
EURINR
74.7676
GBPINR
88.6088
JPYINR
65.3300

Date
09-09-16
66.5462
75.0242
88.5863
65.1300

%
Change
+0.14%
+0.34%
-0.02%
-0.30%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.7325

Prev
Close

%
Chg

66.4238

Dollar Index

95.0300

95.0400

Euro

1.1267

1.1275

+0.46
%
0.01%
0.07%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1333.4 1338.53
-0.37%
5
Silver
19.45
19.60
-0.76%
Crude
46.96
47.22
-0.55%
Copper
2.0855 2.0870
-0.07%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
09/09 EURINR 75.260
0
Trifid special
Date Currenc Entry
y
07/0 GBPINR 89.000
9
0

Exit

P/L

75.380
0

2400

Exit

P/L

89.300
0

12000

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Overview
USDINR

EURINR

USDINR opened higher on daily charts and continued the

positive move throughout the session.

EURINR exhibited the consecutive bull rally and reached

towards the resistance on daily charts.

The counter is trying to inch towards 67.0000 mark and

sustaining above which can further add the bulls to it. On
lower side, 66.6000-66.5000 is seen as support range.

On higher sides, 75.5000 is seen as immediate

resistance for the intraday session whereas 75.1000 will
now act as crucial support for the counter.

R1
67.0000

R1

R2

S1

S2

75.5000

75.7000

75.2000

75.0000

R2
67.2000

S1
66.8000

S2
66.6000

GBPINR

JPYINR

GBPINR has been moving in a specific range since last

few sessions and closed in the same range.

JPYINR dragged after the two day consolidation near

higher range and finally closed the session in red
territory.

On daily charts, it has been embedded in a range where

89.3500 is acting as stiff resistance while 88.7000 as
crucial support for the currency pair.

R1
89.2000

R2
89.4000

S1
88.8000

S2
88.6000

Now, 65.0000 may act as psychological support for the

counter and 65.5000-65.7000 is seen as key resistance
range from current levels.
R1
65.4000

R2
65.6000

S1
65.0000

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S2
64.8000

Intraday Super Star

(Premium Section)

USDINR although rose higher in the last session but is expected to take resistance at the psychological mark and
correction is expected on lower sides in the coming session.
SELL BELOW 66.8000 TARGETS 66.6800/66.5600 SL 67.0000.

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Trifid Special
(Premium Section)

GBPINR is not able to give proper positive breakouts as constant resistance has been observed at higher levels. Hence,
selling pressure can be seen in the counter below the mentioned level.
SELL BELOW 88.8000 TARGET 88.5000 SL 89.3000.

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