Daily Market Reflection

12 th August 2016
Market Outlook

USDINR

The Rupee was trading lower by 18 paise at 66.90 against the US

dollar in early trade today on higher demand for the American
currency from importers and banks amid a lower opening in the
domestic equity market.
The New Zealand dollar surged to its highest level in more than a
year on Thursday after the Reserve Bank of New Zealand made
smaller interest rate cuts than some had expected, forcing them to
unwind their bets on more aggressive easing. As a result, the New
Zealand dollar rose to $0.7351, its highest level since May 2015.
Fundamental News

Kiwi hits 1-year high after RBNZ rate cut falls short of
expectations.
S.Korea intervention hits won; ringgit leads Asia FX losses.
In July 2016, French consumer prices decreased by 0.4%
over a month.
Italy Consumer Price Index (YoY) in line with expectations.

Currency Future
Currency
Date

Date

% Chg

10-08-16

11-08-16

USDINR

66.8775

66.9825

+0.16%

EURINR

74.8425

74.7000

-0.19%

GBPINR

87.5275

87.0200

-0.58%

JPYINR

66.0800

66.0900

+0.02%

Event Calendar (12th August 2016)

Time
Currency Event

Forecast

Previou
s

11:30am

EUR

German Prelim GDP q/q

0.3%

0.7%

2:30pm

EUR

Flash GDP q/q

0.3%

0.3%

6:00pm

USD

Core Retail Sales m/m

0.2%

0.7%

6:00pm

USD

PPI m/m

0.1%

0.5%

6:00pm

USD

Retail Sales m/m

0.4%

0.6%

7:30pm

USD

Prelim UoM Consumer

Sentiment

91.5

90.0

Reference Rate
Currency Date
Date
10-08-16 11-08-16
USDINR
67.7442 66.8571
EURINR
74.3797 74.6526
GBPINR
87.0411 86.9543
JPYINR
65.8400 65.9100

%
Change
-1.30%
+0.36%
-0.09%
+0.10%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.8550

Prev
Close

%
Chg

66.7150

Dollar Index

95.8300

95.5700

Euro

1.1143

1.1179

+0.21
%
+0.27
%
0.32%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1349.4 1351.90
-0.17%
5
Silver
20.16
20.17
-0.03%
Crude
41.66
41.71
-0.12%
Copper
2.1750 2.1710
+0.18%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
09/08 EURINR 74.300
0
Trifid special
Date Currenc Entry
y
10/0 JPYINR 66.700
8
0

Exit

P/L

74.180
0

2400

Exit

P/L

67.000
0

12000

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Overview
USDINR

EURINR

USDINR did not held below the key supports on daily

chart and finally closed higher above the previous close.

EURINR dropped from higher levels and closed the

session in red territory.

It may gain momentum till it sustains above the resistance

of 67.0000 and may lead towards the next resistance of
67.3000 whereas 66.8000 is seen as immediate support.

On daily charts, it strictly resisted around 100 day EMA

i.e. around 75.0000 and selling pressure is expected to
continue towards the support range of 74.5500-74.3500.

R1
67.1000

R1

R2

S1

S2

74.8000

75.0000

74.4000

74.2000

R2
67.3000

S1
66.9000

S2
66.7000

GBPINR

JPYINR

GBPINR further dragged down and closed above the

support level as seen on daily chart.

JPYINR traded sideways for the entire session and finally

closed on a flat note.

On lower side, if it breaches the support of 86.6500 then it

may further drop down to deeper support levels whereas
87.6000 is seen as important resistance.

It may move towards the resistance of 66.5500 till it

sustains above the mark of 66.0000. Strong support is
still seen near 65.4500.

R1
87.2000

R1
66.2000

R2
87.4000

S1
86.7000

S2
86.5000

R2
66.4000

S1
65.8000

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S2
65.6000

Intraday Super Star

(Premium Section)

GBPINR has been continuously dragging down and is now expected to surpass the support so shown in the chart
above. Hence, selling pressure is expected in the coming session in the counter.
SELL BELOW 86.9500 TARGETS 86.8300/86.7100 SL 87.1500.

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Trifid Special
(Premium Section)

JPYINR took resistance around the down sloping trend line and is expected to give positive breakout above it as shown
in the chart above.
BUY ABOVE 66.1800 TARGET 66.4800 SL 65.6800.

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