Daily Market Reflection

13th May 2016

USDINR

Market Outlook
Rupee depreciated against the greenback despite US Dollar Index
recorded its first decline in seven sessions.
Most of the emerging Asian currencies turned bearish in last two weeks
largely over cues about slowing global growth. The won has lost 2%
against the U.S. dollar so far this month. An awaited event was BOE
monetary policy. The Bank of Englands Monetary Policy Committee
(MPC) sets monetary policy to meet the 2% inflation target and in a way
that helps to sustain growth and employment. At its meeting ending on
11 May 2016 the MPC voted unanimously to maintain Bank Rate at 0.5%.
Fundamental News
Asia FX sentiment turns bearish on global growth fears.
Yen weaker on BOJ easing talk, BOE's "Super Thursday"
remained in focus.
German Wholesale prices in April 2016: 2.7% on April 2015.
French Consumer prices increased by 0.1% in April 2016; yearon-year, they were down

Date

Date

11-05-16

12-05-16

USDINR

66.8050

66.8100

+0.01%

EURINR

76.1725

76.1825

+0.01%

GBPINR

96.4275

96.7225

+0.31%

JPYINR

61.4450

61.2000

-0.40%

% Chg

Currency

Event

Forecast

Previous

GBP

MPC Member Haldane

Speaks

11:30pm

EUR

German Prelim GDP q/q

0.6%

0.3%

6:00pm

USD

Core Retail Sales m/m

0.6%

0.2%

6:00pm

USD

PPI m/m

0.3%

-0.1%

6:00pm

USD

Retail Sales m/m

-0.3%

-0.3%

USD

Prelim UoM Consumer

Sentiment

89.9

89.0

Tentative

7:30pm

Date
Date
11-05-16 12-05-16
66.6958
66.5977
75.9665
76.0612
96.4335
96.1538
61.4300
61.1600

USDINR
EURINR
GBPINR
JPYINR

%
Change
-0.14%
+0.12%
-0.29%
-0.43%

Currencies vs $
Currency

Close
(5:00pm)
66.6375
94.0370
1.1393
1.4450
109.22

Prev
Close
66.5650
93.8230
1.1424
1.4440
108.60

% Chg
+0.10%
+0.22%
-0.27%
+0.06%
+0.57%

Global Commodities

Event Calendar (13th May 2016)

Time

Currency

Rupee
Dollar Index
Euro
Pound
Japanese Yen

Currency Future
0.2%.
Currency

Reference Rate

Commodity
Gold
Silver
Crude
Copper

Close
1266.99
17.24
46.62
2.1035

Prev.Close
1272.26
17.29
46.12
2.1103

% Chg
-0.41%
-0.28%
+1.08%
-0.32%

Our Previous calls update

Intraday super star
Date
Currency Entry
Exit
P/L
12/05 USDINR 66.7500 66.7875 -750
Trifid special
Date
Currency Entry
Exit
10/05 GBPINR 96.5700 For our next calls click here..

www.trifidresearch.com | Email id: info@trifidresearch.com | Toll Free: 1800-270-1410

P/L
-

Overview
USDINR

EURINR

USDINR moved in very tight range as mainly consolidated in

range of 66.7000-66.8500.

EURINR also showed less movements as moved in tight range

as of previous session and closed flat.

Previous session marked the reversals from 67.0000 mark and

sell offs can be seen till it sustains below this key resistance.
Near term support is seen around 66.6000.

On daily charts, it has been consolidating around specific

range and 76.3500 is seen as immediate resistance while
75.9000 is still acting as strong support.

R1
67.0000

R1

R2

S1

S2

76.4000

76.6000

76.0000

75.8000

R2
67.2000

S1
66.7000

S2
66.5000

GBPINR

JPYINR

GBPINR traded on lower levels for most part of the session but
climbed in the last hour after the awaited data of BOE
monetary Policy.

JPYINR could not manage to sustain on higher sides rather

dropped with greater margin and reached towards deeper
supports and closed losing approx 0.40%.

On daily charts, it is finding constant support on lower levels

and may hike above 96.9500 while 96.3000 is seen as support.

On daily charts, it tends to fall towards trend line acting as

strong support i.e. around 60.7000 while intraday resistance is
seen near 61.5000.

R1
96.9000

R1
61.3000

R2
97.1000

S1
96.5000

S2
96.3000

R2
61.5000

S1
61.0000

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S2
60.8000

Intraday Super Star

(Premium Section)

Currency surpassed the important support on daily charts and closed near to it. If it continues to hold below this level in the
coming session then it can move towards deeper support levels.
**** TARGETS *****/***** SL ******. For complete call subscribe our premium reports.

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Trifid Special
(Premium Section)

Currency closed higher as compared to its weak opening which recommends that buying on dips can be seen in the counter.
Hence, buying momentum can be seen in it in coming few sessions.
***** TARGET ***** SL *****. For complete call subscribe our premium reports.

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