Daily Market Reflection

22 ndJuly 2016
Market Outlook

USDINR

The Rupee fell 2 paise to 67.22 against the US dollar in early trade
on Thursday amid a rally in the greenback globally on rising hope of
rate hike by the US Fed amid recent set of healthy inflation and jobs
market data.
The office for National Statistics (ONS) published the UKs retail
trade report for the month of June, revealing that the consumer
spending dipped further in the Brexit-month. The UKs retail
volumes fell 0.9% in June m/m, while the annualized retail spending
rose 4.3%. Markets had estimated a 0.3% dip on a monthly basis.
Fundamental News

Yen hits 6-week low as Japan stimulus hopes support risk

sentiment.
Ringgit slips to 3-week low on 1MDB scandal; Asia FX dips.
Sterling bounces as BoE survey shows limited Brexit vote
fallout.
UK retail sales dip further in Brexit-month, miss
expectations.

Currency Future
Currency
Date

Date

% Chg

20-07-16

21-07-16

USDINR

67.2725

67.2150

-0.09%

EURINR

74.1075

74.0900

-0.02%

GBPINR

88.6225

88.6350

+0.01%

JPYINR

63.1725

63.2600

+0.14%

Event Calendar (22nd July 2016)

Time
Currency Event
Flash Manufacturing PMI

Forecast

Previou
s

48.3

48.1

48.1

48.3

53.6

54.5

7:30am

JPY

12:30pm

EUR

1:00pm

EUR

2:00pm

GBP

Manufacturing PMI

47.8

52.1

2:00pm

GBP

Services PMI

48.9

52.3

2:30pm

EUR

Italian Retail Sales m/m

0.2%

0.1%

French Flash
Manufacturing PMI
German Flash
Manufacturing PMI

Reference Rate
Currency Date
20-07-16
USDINR
67.1720
EURINR
73.9900
GBPINR
88.0423
JPYINR
63.2300

Date
21-07-16
67.2035
74.1523
88.9774
62.7300

%
Change
+0.04%
+0.21%
+1.06%
-0.79%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
67.1963

Prev
Close

%
Chg

67.1975

Dollar Index

96.8500

97.1400

Euro

1.1021

1.1036

0.00%
0.29%
0.13%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1321.9 1314.82
+0.54%
6
Silver
19.46
19.25
+1.09%
Crude
45.85
45.87
-0.04%
Copper
2.2445 2.2500
-0.24%
OUR PREVIOUS CALLS UPDATE

Intraday super star

Date Currenc Entry
Exit
P/L
y
20/07 GBPINR 88.427 88.187 4800
5
5
Trifid special
Date Currenc Entry
Exit
P/L
y
15/0 GBPINR 89.800 90.100 1200

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Overview
USDINR

EURINR

USDINR has been trading in sideways manner since last

few sessions and unable to specify the trend.

EURINR opened higher but was unable to hold able the

resistance levels and fell down to again close on negative
note.

On daily charts, it has been hovering around 100 day

EMA and on higher side, 67.4000 is still acting as
important resistance while 67.0000 is seen as strong
support.
R1
67.4000

R2
67.6000

S1
67.0000

S2
66.8000

The trend seems to be bearish till it sustains below

74.1500 and sell offs may increase below 74.0000.

R1

R2

S1

S2

74.2000

74.4000

73.9000

73.7000

GBPINR

JPYINR

GBPINR fell from highs during the intraday session and

finally settled on weak note.

JPYINR opened gap down and then a surge was seen

during the session which made the pair to settle on
positive note.

Key support is still seen around 87.8500 below which

bears may further drag the pair lower whereas 89.3000 is
seen as important resistance.

R1
88.9000

R2
89.1000

S1
88.5000

S2
88.3000

It took resistance just near to 63.8500 which is also a key

point on daily charts as holding above which can lead it
higher while 62.7000 is good support.
R1
63.4000

R2
63.6000

S1
63.1000

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S2
62.9000

Intraday Super Star

(Premium Section)

GBPINR has been constantly finding resistance at higher levels and closed on lower side, so selling pressure is
expected in the coming session.
SELL BELOW 88.4625 TARGETS 88.3425/88.2225 SL 88.6625.

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Trifid Special
(Premium Section)

EURINR surpassed the key support level on daily charts and closed below it. Weakness is expected till the pair remains
below this support and bears may further drag it towards southward direction.
SELL BELOW 73.9300 TARGET 73.6300 SL 74.4300.

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