Daily Market Reflection

17 th August 2016
Market Outlook

USDINR

The Rupee recovered 7 paise to 66.82 against the US dollar in

early trade today on selling of the US currency by exporters and
banks amid a higher opening in the domestic equity market.
Besides, weakness in the dollar against other currencies overseas
supported the rupee.
The UK consumer prices rose 0.6% y/y in July from 0.5% seen a
month before, matching market forecasts of 0.5%, the Office for
National Statistics (ONS) revealed on Tuesday. While the core
inflation gauge eased a bit to 1.3% in July versus 1.4% last,
although came in line with expectations.
Fundamental News
Fed's Williams pushes dollar down to 1-month low vs yen.
Global easy money hopes lift Asia FX; won near 15-mth
high.
UK CPI ticks higher in July, beats estimates.
UK Consumer Price Index (MoM) in line with expectations (0.1%) in July.German Consumer prices in July 2016: +0.4%
on July 2015.
Currency Future
Currency
Date
Date
% Chg

12-08-16

16-08-16

USDINR

67.0025

66.8725

-0.19%

EURINR

74.7450

75.5125

+1.03%

GBPINR

86.8725

86.9175

+0.05%

JPYINR

65.6500

66.8425

+1.82%

Event Calendar (17th August 2016)

Time
Currency Event

Forecast

Previou
s

2:00pm

GBP

Average Earnings Index

3m/y

2.5%

2.3%

2:00pm

GBP

Claimant Count Change

5.2K

0.4K

2:00pm

GBP

Unemployment Rate

4.9%

4.9%

2:30pm

CHF

5.9

10:30pm

USD

11:30pm

USD

ZEW Economic
Expectations
FOMC Member Bullard
Speaks
FOMC Meeting Minutes

Reference Rate
Currency Date
12-08-16
USDINR
66.8252
EURINR
74.4633
GBPINR
86.6255
JPYINR
65.4400

Date
16-08-16
66.8983
75.0198
86.3389
66.6800

%
Change
+0.10%
+0.74%
-0.33%
+1.89%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.7787

Prev
Close

%
Chg

66.8887

Dollar Index

94.8500

95.6000

Euro

1.1271

1.1194

0.16%
0.78%
+0.68
%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1351.2 1345.85
+0.40%
7
Silver
20.02
19.78
+1.21%
Crude
45.98
45.45
+1.66%
Copper
2.1652 2.1368
+1.32%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
16/08 GBPINR 86.800
0
Trifid special
Date Currenc Entry
y
16/0 JPYINR 66.180
8
0

Exit

P/L

86.560
0

4800

Exit

P/L

66.480
0

12000

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Overview
USDINR

EURINR

USDINR resisted near the highs as seen on daily charts

and dragged down during the session.

EURINR showed one side intraday movement and

closed on a strong note.

It is not able to sustain higher above 67.0000 mark and

66.8500 is constantly acting as good support for the
counter. Any closing below it can further drag it down.

It strongly surpassed 100 day EMA on daily charts and

now is expected to face 75.8000 as next resistance while
75.0000 may again act as important support.

R1
67.1000

R1

R2

S1

S2

75.6000

75.8000

75.4000

75.2000

R2
67.3000

S1
66.7000

S2
66.5000

GBPINR

JPYINR

GBPINR opened on lower note and gained momentum on

higher side thereafter; finally closing on a flat note.

JPYINR jumped higher surpassing

resistance marks and closed higher.

It didnt closed below the support of 86.6500 rather closed

above it indicating that correction can bring the counter
towards the resistance of 87.6000.

On daily charts, the rally may continue if it is able to

sustain above 67.0000 while 66.5500 may act as
immediate support for the currency pair.

R1
87.0000

R1
67.0000

R2
87.2000

S1
86.8000

S2
86.6000

R2
67.2000

the

S1
66.7000

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important

S2
66.5000

Intraday Super Star

(Premium Section)

JPYINR gave breakout of the Head & Shoulder pattern so observed on daily charts and buying momentum is expected
to continue for the coming session as well.
BUY ABOVE 66.9400 TARGETS 67.0600/67.2800 SL 66.7400.

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Trifid Special
(Premium Section)

EURINR gained higher and closed above the 100 day EMA as well as the trend line which acted as strong resistance for
it. Bulls may continue till it sustains above the mentioned resistance marks.
BUY ABOVE 75.5400 TARGET 75.8400 SL 75.0400.

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