Daily Market Reflection

06th October 2016

Market Outlook

USDINR

Reversing its three-day climb, the Rupee fell 16 paise to 66.62

against the US dollar at the Interbank Foreign Exchange today due
to higher demand for the American currency from importers and
banks. Strengthening dollar against other currencies overseas amid
mounting expectations of higher borrowing costs in the US weighed
on the rupee, but a higher opening in the domestic equities
cushioned the impact.
Britain's pound dipped below $1.27 for the first time since June
1985 on Wednesday, with fears of a 'hard' Brexit also pushing the
currency to a five-year trough against a broadly stronger euro.
Fundamental News
Sterling falls below $1.27 for first time since 1985.
Euro makes broad gains, rises to five-year high against
sterling.
Dollar hovers near 2-month high, euro extends bounce.
Eurozone PMI at 20-month low as growth slows in
Germany, Italy and Spain.
Volume of retail trade down by 0.1% in euro area and EU28.
Currency Future
Currency
Date
Date
% Chg

04-10-16

05-10-16

USDINR

66.7200

66.7450

+0.04%

EURINR

74.6225

75.0125

+0.52%

GBPINR

85.2050

85.1200

-0.10%

JPYINR

65.1550

64.8125

-0.53%

Event Calendar (06th October 2016)

Time
Currency Event

Forecast

Previou
s

11:30 am

EUR

German Factory Orders

m/m

0.3%

0.2%

1:40 pm

EUR

Retail PMI

51.0

-5.4B

-4.9B

Housing Equity
Withdrawal q/q
ECB Monetary Policy
Meeting Accounts

2:00 pm

GBP

5:00 pm

EUR

5:00pm

USD

Challenger Job Cuts y/y

-21.8%

6:00pm

USD

Unemployment Claims

255K

254K

Reference Rate
Currency Date
04-10-16
USDINR
66.5559
EURINR
74.4428
GBPINR
85.3180
JPYINR
65.0800

Date
05-10-16
66.5699
74.6515
84.4772
64.7000

%
Change
+0.02%
+0.28%
-0.98%
-0.58%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.5375

Prev
Close

%
Chg

66.4612

Dollar Index

96.0800

96.1400

Euro

1.1223

1.1221

+0.11
%
0.06%
+0.01
%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1273.4 1274.28
-0.06%
4
Silver
17.86
17.96
-0.55%
Crude
49.55
49.14
+0.83%
Copper
2.1613 2.1643
-0.13%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
05/10 JPYINR 65.117
5
Trifid special
Date Currenc Entry
y
03/1 GBPINR 86.735
0
0

Exit

P/L

64.877
5

4800

Exit

P/L

86.435
0

12000

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Overview
USDINR

EURINR

USDINR was unable to sustain at higher levels after a

slight gap up opening and finally settled on a flat note.

EURINR jumped after the weak closing in the last

session and also closed higher.

It is expected to face continuous resistance around

67.0000 level while 66.6000 is near support breaching
which can further drag the counter lower.

It again took resistance of 100 day EMA as shown in the

daily chart above. Sustaining above 75.1000 will assure
bulls otherwise 74.6500 will continue to act as key
support.

R1
66.9000

R1

R2

S1

S2

75.1000

75.3000

74.8000

74.6000

R2
67.0000

S1
66.6000

S2
66.5000

GBPINR

JPYINR

GBPINR extended the bears as seen on daily charts and

closed again in red territory.

JPYINR continued the downfall so possessed by the

counter in last few sessions and closed on a weak note.

Consecutive four day fall found support around 85.0000

and closed above it. If it corrects in coming sessions then
85.5000 may act as immediate resistance.

If the bearishness continues in the pair then it may drop

towards the 100 day EMA of 64.4000 while on higher
side, it needs a closing above 64.9500 to gain strength.

R1
85.2000

R1
65.0000

R2
85.4000

S1
84.9000

S2
84.7000

R2
65.2000

S1
64.6000

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S2
64.4000

Intraday Super Star

(Premium Section)

EURINR strongly resisted around 100 day EMA despite of strong closing on intraday basis. Hence, it may again lower
down in the coming session if holds below the mentioned level.
SELL BELOW 74.9000 TARGETS 74.7800/74.6600 SL 75.1000.

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Trifid Special
(Premium Section)

GBPINR on daily charts is running below the major support levels and the bear attack is expected to continue in the
coming few sessions.
SELL BELOW 85.0925 TARGET 84.7925 SL 85.5925.

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