Daily Market Reflection

14th September 2016

Market Outlook

USDINR

The Rupee pared some initial losses, but was still down 18 paise at
66.86 against the American currency in late morning trade on bouts
of dollar demand from banks and importers amid weak domestic
market. Overseas, the dollar began the week on the back foot as a
bout of risk aversion underpinned the yen.
The safe-haven yen was the winner on Monday as investors sold
stocks and riskier assets including commodities, but the dollar
outperformed higher-yielding currencies on fresh talk of an interest
rate hike by the Federal Reserve in the near term.
Fundamental News

Stocks sell off boosts yen, dollar supported by Fed rate hike
talk.
Yen demand returns as markets feel the equity jitters.
Japan Machinery Orders (MoM) came in at 4.9%, above
expectations (-3.5%) in July.
Yuan Overnight HIBOR spikes to highest Since February.

Currency Future
Currency
Date

Date

% Chg

09-09-16

12-09-16

USDINR

66.8675

67.0525

+0.28%

EURINR

75.3800

75.2725

-0.14%

GBPINR

89.0450

88.9375

-0.12%

JPYINR

65.1500

65.7525

+0.92%

Event Calendar (14th September 2016)

Time
Currency Event

Forecast

Previou
s

5:20 am

JPY

BSI Manufacturing Index

-6.5

-11.1

2:00pm

GBP

CPI y/y

0.7%

0.6%

2:00pm

GBP

PPI Input m/m

0.6%

3.3%

2.8

0.5

6.7

4.6

2:30pm

EUR

2:30pm

EUR

2:30pm

EUR

ECB President Draghi

Speaks
German ZEW Economic
Sentiment
ZEW Economic
Sentiment

Reference Rate
Currency Date
09-09-16
USDINR
66.5462
EURINR
75.0242
GBPINR
88.5863
JPYINR
65.1300

Date
12-09-16
66.9017
75.2176
88.7719
65.2600

%
Change
+0.53%
+0.25%
+0.20%
+0.19%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.9238

Prev
Close

%
Chg

66.6775

Dollar Index

95.1700

95.1200

Euro

1.1235

1.1234

+0.36
%
+0.05
%
+0.01
%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1328.6 1330.43
-0.13%
0
Silver
19.12
19.20
-0.41%
Crude
45.53
45.83
-0.65%
Copper
2.0848 2.0843
+0.02%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
09/09 EURINR 75.260
0
Trifid special
Date Currenc Entry
y
07/0 GBPINR 89.000
9
0

Exit

P/L

75.380
0

2400

Exit

P/L

89.300
0

12000

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Overview
USDINR

EURINR

USDINR hiked for another consecutive session and

closed above the psychological resistance level.

EURINR rallied for last few sessions but corrected in the

previous session and closed in red zone.

It closed above 67.0000 mark and now 67.1500 is seen

as immediate resistance sustaining above which can lead
it to northwards while 66.9000 may act as good support.

On daily charts, a reversal candlestick pattern is seen

which suggests that selling pressure can be seen if the
counter holds below 75.2000.

R1
67.2000

R1

R2

S1

S2

75.4000

75.6000

75.1000

74.9000

R2
67.4000

S1
66.9000

S2
66.7000

GBPINR

JPYINR

GBPINR again has been moving in the same trading

range and closed on a flat to negative note.

JPYINR sustained higher after it jumped from the lower

band of triangle pattern.

It needs to give a breakout on either side to specify the

trend further. It is facing stiff resistance around 89.1000
while 88.7500 is seen as strong support.

On daily charts, if it maintains above 65.8000 then it may

move towards the resistance range of 66.0000-66.2000
while 65.1000 may now act as major support.

R1
89.1000

R1
65.9000

R2
89.3000

S1
88.8000

S2
88.6000

R2
66.1000

S1
65.6000

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S2
65.4000

Intraday Super Star

(Premium Section)

JPYINR is able to continuously sustain at higher levels and is expected to move further northwards if holds above the
mentioned level.
BUY ABOVE 65.7900 TARGETS 65.9100/66.0300 SL 65.5900.

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Trifid Special
(Premium Section)

GBPINR is not able to give proper positive breakouts as constant resistance has been observed at higher levels. Hence,
selling pressure can be seen in the counter below the mentioned level.
SELL BELOW 88.8000 TARGET 88.5000 SL 89.3000.

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