WWW.TRIFIDRESEARCH.

COM

R
EE E K L Y
P
O
R
T

19 JAN - 23 JAN 2015

Buy on fear, sell on greed.

Buy on the rumor, sell on the news.

The trend is your friend.

Amateurs want to be right.

Professionals want to make money.

MARKET OUTLOOK

MARKET EVENTS
Rupee rises to over 1-month
high, up 19 paise vs dollar at
61.87.
Euro pinned near 11-yr low as
SNB move beefs up bets on
ECB stimulus.
Yuan Drops Most in Four
Weeks as Swiss Shock Spurs
Dollar Demand.

CURRENCIES

USDINR

PREVIOUS

CURRENT

RATE

RATE

62.5475

62.0200

Indian Rupee started the week on

flat note but continued to have
gradual gains as trade deficit
narrowed to its ten month low and
positive IIP data as per previous
figures; further sentiments were
hiked on Thursday when RBI
proposed repo rate cut by 0.25%
which now fell to 7.75% and also FPI
buying in Equity markets pulled the
rupee towards one month low.
However, another global key event
which capped the gains of rupee was
that Swiss Bank unexpected move to
reduce Libor rate to -0.75% from 0.25%. It is expected to continue its
gains and may head towards
61.5000.

KEY RATES As on 16/01/2015

% CHANGE
REFERENCE RATE
(USD)

61.8933

REPO RATE

7.75%

REVERSE REPO

7%

-0.84

EURINR

73.9150

71.9300

-2.68

GBPINR

94.7500

94.3250

-0.44

CRR

4%

JPYINR

52.5075

53.2125

1.34

INFLATION

0.00%

USDINR

USDINR last week broke the upward channel pattern and closed below it. It fell towards the
62.0000 mark and now 61.5400 is seen as crucial support breaching which it can further drag
towards the support range of 61.3000-61.1000. While on higher side, 62.5000 is seen as
immediate resistance for the week.

EURINR

EURINR last week extended losses after Swiss Bank reduced Libor rate to -0.75% and closed below
the key support of 73.7000 on weekly charts. Now, if the bearishness continued for the coming
week also then 69.6000 is seen as next important support as shown in chart above while 73.100073.7000 is seen as immediate resistance range.

PIVOT TABLE
CURRENCIES

S1

S2

S3

R1

R2

R3

USDINR

61.6000

61.3000

60.9000

62.5000

62.8000

63.2000

EURINR

71.5000

70.8000

70.2000

72.7000

73.2000

73.7000

GBPINR

93.7000

93.1000

92.4000

95.0000

95.5000

96.0000

JPYINR

52.7000

52.2000

51.7000

53.8000

54.3000

54.9000

INTERNATIONAL UPDATES
Real Rises Most Among Major Currencies on Europe Outlook.
Sterling surges to 7-year high against euro after shock Swiss
National Bank's move.
Peru Currency Drops to Lowest Since 2009 After Surprise Rate
Cut.
DATE

TIME

COUNTRY

EVENT

BLOOMBERG
ESTIMATE

PREVIOUS
LEVEL

US

Building Permits

1.06M

1.05M

US

Unemployment
Claims

301K

316K

US

Flash
Manufacturing
PMI

54.1

53.9

US

Existing Home
Sales

5.08M

4.93M

7:00
21-JAN-2015
PM
7:00
22-JAN-2015
PM
8:15
23-JAN-2015
PM
8:30
23-JAN-2015
PM

DISCLAIMER

WWW.TRIFIDRESEARCH.COM