Daily Market Reflection

01stJuly 2016
Market Outlook

USDINR

The Rupee rose 15 paise to 67.53 against the US dollar in early

trade on Thursday, in line with the positive trend in other Asian
currencies such as the Korean won and the Malaysian ringgit.
Investors' taste for risk picked up in Asian currency trading
Thursday with the South Korean won and Malaysian ringgit rising
on stimulus hopes and as fears about Britain's exit from the EU
ease.
Euro area annual inflation is expected to be 0.1% in June 2016, up
from -0.1% in May 2016, according to a flash estimate from
Eurostat, the statistical office of the European Union.
Fundamental News

Rupee in worst losing streak in year on Brexit, Rajan

concerns.
Yuan, Aussie sink on report China to tolerate weaker
yuan.
Asia FX up in June as global easing hopes temper Brexit
shock.
German Retail turnover in May 2016: +2.6% in real terms
on May 2015.
Currency Future
Currency
Date
Date
% Chg
29-06-16

30-06-16

USDINR

67.9975

67.7875

-0.31%

EURINR

75.3850

75.5100

+0.17%

GBPINR

91.5050

91.4025

-0.11%

JPYINR

66.2125

65.8975

-0.48%

Event Calendar (01st July 2016)

Time
Currency
Event

Forecast

Previous

5:00am

JPY

Household Spending y/y

-1.3%

-0.4%

5:00am

JPY

Tokyo Core CPI y/y

-0.5%

-0.5%

52.1

51.8

Tankan Manufacturing
Index
Spanish Manufacturing
PMI

5:20am

JPY

12:45pm

EUR

2:00pm

GBP

Manufacturing PMI

50.0

50.1

7:30pm

USD

ISM Manufacturing PMI

51.3

51.3

Reference Rate
Currency Date
Date
29-06-16 30-06-16
USDINR
67.7443 67.6166
EURINR
75.0200 75.0071
GBPINR
90.4928 90.5183
JPYINR
66.2100 65.9100

%
Change
-0.18%
-0.01%
+0.02%
-0.45%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
67.5462

Prev
Close

% Chg

67.6850

Dollar Index

95.5900

95.6500

Euro

1.1144

1.1103

0.20%
0.06%
+0.36
%

Global Commodities
Commodit Close
Prev.Clos
y
e
Gold
1316.9 1314.83
4
Silver
18.37
18.28
Crude
49.37
49.42
Copper
2.1793 2.1840
Our Previous calls update
Intraday super star
Date Currenc
y
30/06 GBPINR
Trifid special
Date Currenc
y
30/0 JPYINR
6

% Chg
+0.16%
+0.49%
-0.10%
-0.21%

Entry

Exit

P/L

Entry

Exit

P/L

66.350
0

66.050
0

1200
0

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Overview
USDINR

EURINR

USDINR dragged for the second consecutive session and

surpassed the important support of 67.8000.

EURINR opened flat and showed sideways movement

but moved higher in the later part of the session.

If it sustains below the key support of 67.8000 then it may

further drop towards the next support of 67.5000 while
68.000 may now act as crucial resistance.

If it inches higher then 75.8000 may act as immediate

resistance level whereas 75.1500 may now act as key
support for the pair.

R1
67.5000

R1

R2

S1

S2

75.7000

75.9000

75.3000

75.1000

R2
67.3000

S1
68.0000

S2
68.2000

GBPINR

JPYINR

GBPINR is moving in the same range since last three

sessions and closed around it.

JPYINR has been falling down since last three

consecutive sessions.

It needs to give proper breakout above 91.6000 to move

towards northwards direction while 90.7000 is seen as
immediate support for the pair.

If it continues the bearish trend then it may fall towards

the important support of 65.5000. On higher side,
66.3000-66.5000 is seen as resistance range.

R1
91.7000

R1
66.1000

R2
91.9000

S1
91.2000

S2
91.000

R2
66.3000

S1
65.7000

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S2
65.5000

Intraday Super Star

(Premium Section)

GBPINR violated the immediate resistance so faced and hence was not able to surpass such important resistance
which indicates that selling pressure may be seen if it sustains below the mentioned level.
SELL BELOW 91.2000 TARGETS 91.0800/90.9600 SL 91.4000.

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Trifid Special
(Premium Section)

JPYINR had exhibited lower highs and lower lows on daily charts and so a bounce back is expected if it moves above
the mentioned range as the overall trend of the counter is up.
BUY ABOVE 66.0700 TARGET 66.3700 SL 65.5700.

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