Daily Market Reflection

08thJuly 2016
Market Outlook

USDINR

The Rupee climbed 4 paise to 67.41 against the US dollar in early

trade on Thursday after the Fed minutes of recent policy meet
suggested that the US Federal Reserve was unsure over the path
of future rate hikes amid weakness in jobs data and global worries.
Most emerging Asian currencies rose on Thursday on improved risk
sentiment following upbeat U.S. service sector activity and
expectations that U.S. interest rates may not rise so soon. The
Chinese yuan came off 5-1/2-year lows as the dollar broadly took a
breather and the central bank set its daily guidance rate firmer.

Fundamental News

Yen underpinned by safety flows, Aussie hurt by S&P

outlook cut.
Improved risk sentiment buoys Asia FX; yuan finds
respite.
Sterling steadies after fall below $1.30.
China's yuan pulls away from 5-1/2-year lows; weakness
seen ahead.
UK Annual house price growth eases to 8.4%.
Currency Future
Currency
Date
Date
% Chg
05-07-16

07-07-16

USDINR

67.6975

67.5925

-0.16%

EURINR

75.5050

74.9000

-0.80%

GBPINR

89.1350

88.2000

-1.05%

JPYINR

66.4700

66.7600

+0.44%

Event Calendar (08th July 2016)

Time
Currency
Event

Forecast

Previous

5:20am

JPY

Current Account

1.52T

1.63T

11:30am

EUR

German Trade Balance

22.3B

24.0B

2:00pm

GBP

Goods Trade Balance

-10.2B

-10.5B

0.2%

0.2%

174K

38K

4.8%

4.7%

6:00pm

USD

6:00pm

USD

6:00pm

USD

6:00pm

USD

Average Hourly Earnings

m/m
Non-Farm Employment
Change
Unemployment Rate

Reference Rate
Currency Date
Date
05-07-16 07-07-16
USDINR
67.4028 67.4972
EURINR
75.0328 74.8274
GBPINR
89.1537
87.6114
JPYINR
66.0600 67.0000

%
Change
+0.14%
-0.27%
-1.72%
+1.42%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
67.3687

Prev
Close

% Chg

67.4550

Dollar Index

96.0400

96.1000

Euro

1.1082

1.1096

0.12%
0.06%
0.12%

Global Commodities
Commodit Close
Prev.Clos
y
e
Gold
1364.5 1367.66
7
Silver
20.03
20.10
Crude
47.96
47.49
Copper
2.1380 2.1445
Our Previous calls update
Intraday super star
Date Currenc Entry
y
07/07 GBPINR 88.920
0
Trifid special
Date Currenc Entry
y
07/0 JPYINR 66.400

% Chg
-0.22%
-0.34%
+0.98%
-0.30%

Exit

P/L

88.680
0

4800

Exit

P/L

66.700

1200

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Overview
USDINR

EURINR

USDINR was unable to sustain on higher sides and fell

down to close the session in red.

EURINR strongly resisted near to 100 day EMA in the

previous session and fell sharply in the last session.

On further sell offs, it may again drag towards the 100 day
EMA i.e. 67.4000 while 68.000 is seen as the key
resistance level for the counter.

If it closes below 74.7400 then it may further drag down

towards 74.3000 while 75.2000 may act as immediate
resistance.

R1
67.9000

R1

R2

S1

S2

75.0000

75.2000

74.7000

74.5000

R2
68.1000

S1
67.4000

S2
67.2000

GBPINR

JPYINR

GBPINR is falling down for consecutive four sessions

surpassing all its important support marks.

JPYINR surged in the last two sessions such that it

recovered the losses so incurred by the pair in last few
sessions.

Bears on further extension can drift the pair towards the

next psychological level of 87.0000. On the other hand,
88.7000-89.0000 is seen as immediate resistance.

R1
88.3000

R2
88.5000

S1
87.9000

S2
87.7000

iF it is able to sustain above 67.0000 then it may head

towards higher highs while 66.1000 is still acting as
immediate support.
R1
67.0000

R2
67.2000

S1
66.5000

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S2
66.3000

Intraday Super Star

(Premium Section)

JPYINR surged higher in last two sessions and strongly resisted near the previous resistance mark on daily charts. If it
surpasses the given range then bulls may again become active.
BUY ABOVE 66.9000 TARGETS 67.0200/67.1400 SL 66.7000.

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Trifid Special
(Premium Section)

GBPINR has been continuously falling down and the bears are extending towards the deeper support levels; hence, sell
offs cen further be seen in this currency pair.
SELL BELOW 87.8000 TARGET 87.5000 SL 88.3000.

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