Daily Market Reflection

29thJune 2016
Market Outlook

USDINR

In line with equity market, the rupee ended steady against the
American currency at 67.95 per dollar on alternate bouts of selling
and buying of the greenback amid persistent concerns over the UK
leaving the European Union.
British financial markets were engulfed in further turmoil on
Monday, with 10-year government borrowing costs sinking below 1
percent for the first time and sterling hitting a 31-year low against
the dollar as investors bet Britain's vote to leave the EU will trigger
a Bank of England rate cut.
Fundamental News

Steadier sterling, China pledge helps Asia; rupiah near 4week high.
Dollar and yen steady, pound crawls off low, numbed by
Brexit shock.
German Import prices in May 2016: 5.5% on May 2015.
Italy Consumer Confidence dipped from previous 112.7
to 110.2 in June.

Currency Future
Currency
Date

Date

% Chg

27-06-16

28-06-16

USDINR

67.9700

67.8650

-0.15%

EURINR

74.8650

75.0925

+0.30%

GBPINR

89.8800

90.3450

+0.52%

JPYINR

66.8650

66.6475

-0.33%

Event Calendar (29th June 2016)

Time
Currency
Event

Forecast

Previous

4:30am

USD

FOMC Member Powell

Speaks

5:20am

JPY

Retail Sales y/y

-1.6%

-0.9%

All Day

EUR

German Prelim CPI m/m

0.1%

0.3%

12:30pm

EUR

Spanish Flash CPI y/y

-0.9%

-1.0%

Day 2

EUR

EU Economic Summit

USD

Core PCE Price Index

m/m

0.2%

0.2%

6:00pm

Reference Rate
Currency Date
Date
%
27-06-16 28-06-16 Change
USDINR
67.9000 67.8867 -0.01%
EURINR
74.8801 75.0623 +0.24%
GBPINR
90.9113 90.1739 -0.81%
JPYINR
66.6900 66.6900
0
Currencies vs $
Currency
Close
(5:00p
m)
Rupee
67.8975

Prev
Close

% Chg

67.9450

Dollar Index

95.9000

96.3600

Euro

1.1008

1.1057

0.06%
0.47%
0.44%

Global Commodities
Commodit Close
Prev.Clos
y
e
Gold
1308.1 1317.60
5
Silver
17.61
17.63
Crude
47.49
46.92
Copper
2.1565 2.1438
Our Previous calls update
Intraday super star
Date Currenc
y
27/06 JPYINR
Trifid special
Date Currenc
y
21/0 JPYINR
6

% Chg
-0.71%
-0.11%
+1.21%
+0.59%

Entry

Exit

P/L

Entry

Exit

P/L

64.560
0

64.850
0

1160
0

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Overview
USDINR

EURINR

USDINR opened down than previous close but inched

higher during the session and recovered some early
losses.

EURINR moved sideways in the last session and moved

higher during the session.

If it moves higher in the coming session then the

resistance so seen is in the range of 68.3000-68.5000
while falling below 68.0500 can be a weak signal for the
counter.
R1
R2
S1
S2
68.4000
68.6000
68.1000
67.9000

On intraday charts, 76.0000 is seen as key resistance

level while sell offs can be seen if the pair sustains below
the support level of 75.4000.

R1

R2

S1

S2

75.8000

76.0000

75.5000

75.3000

GBPINR

JPYINR

GBPINR opened above the previous close and sustained

on higher side for the session.

JPYINR dragged lower than the previous close and

closed the session in red.

After the biggest breakdown on daily charts it is on slight

correction side which suggests buying above 91.6000 to
move towards 92.0000 while key support is 90.7000.

It is moving in sidaeways fashion on daily charts and

needs to surpass a range on either side. On higher side
67.0000 is the major resistance whereas 66.2000 is
immediate support.

R1
91.3000

R1
66.8000

R2
91.5000

S1
91.0000

S2
90.8000

R2
67.0000

S1
66.6000

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S2
66.4000

Intraday Super Star

(Premium Section)

GBPINR is running through weak trend and the correction towards higher side may soon wash off in the coming session
if it drops down below the immediate support.
SELL BELOW 90.8900 TARGETS 90.7700/90.6500 SL 91.0900.

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Trifid Special
(Premium Section)

JPYINR is running on weaker side since last two sessions and is expected to further fall towards the next immediate
support so seen on daily charts.
SELL BELOW 66.6000 TARGET 66.3000 SL 67.1000.

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