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EURINR
EURUSD depreciated against US dollar by 0.7 percent
last week while EURINR depreciated by 0.33 percent
the same time frame. CPI from Germany came in line
with market expectations at 0.1 percent for Dec’18.
Meanwhile, UK MP’s rejected the Brexit deal yesterday
by a massive 423 to 202 votes against the government.
The EU and European governments warned Tuesday
that the British parliament's rejection of a Brexit deal
heightened the risk of a disorderly withdrawal from the
bloc. In the coming week, the movement in EURINR will
Weekly Report – Jan. 14th to Jan. 18th be driven by ECB press conference.
Hourly EURINR=R 2:30 AM 01/12/2019 - 11:30 PM 01/21/2019 (DEL)
Price
Key Highlight
Cndl, EURINR=R, 3:30 PM 01/21/2019, 81.024, 81.073, 80.940, 80.973, +0.033, (+0.04%)
INR
81.5
81.4
Partial Shutdown ends in US
81.3
81.2
House of Commons reject Brexit deal 81.1
81
80.973
Pm May survives no confidence vote 80.9
80.8
80.7
80.5
00:30 12:30 00:30 16:30 04:30 16:30 04:30 16:30 04:30 16:30 00:30 12:30
Jan 14 19 Jan 15 19 Jan 16 19 Jan 17 19 Jan 18 19 Jan 21 19
USDINR In this week, EURINR (CMP: 81.13) is expected to
trade between 80.50 to 82.30
Indian Rupee depreciated by 1.0 percent last week
while the Dollar Index increased by 0.48 percent. Rupee
GBPINR
remained under pressure on account of continuous
strength in greenback and rising crude oil prices.
Meanwhile, The House on a 237‐187 vote passed the GBP rose against USD by 1.11 percent last week while
latest in a series of bills to end the partial government GBPINR depreciated by 2.06 percent. PM May won the
shutdown with little Republican support. The measure no confidence vote held against her yesterday. CPI from
would provide $12.1 billion in disaster aid and reopen UK came in line with market expectations at 2.1
the closed agencies and the federal department percent for Dec’18. However, Prime Minister Theresa
through Feb 8 but it does not provide the required May lost her bid to bring the ill‐fated Brexit deal
funds for the border wall eyed by Donald Trump. On through the House of Commons by a huge majority of
the trade war front, US is thinking to ease out certain 230 votes. The tally of 432‐202 had 118 Conservatives
tariffs on China to get a better with them. The Trump voting against their own Prime Minister in the most
administrations have paused their trade war till 1st lopsided government loss in history. In the coming
March amid negotiations to get a better trade deal. In week, the movement in GBPINR will be driven by
the coming week, the movement in USDINR will be further developments with regards to Brexit.
Hourly GBPINR=R 2:30 AM 01/12/2019 - 11:30 PM 01/21/2019 (DEL)
driven by manufacturing and services PMI from US. Cndl, GBPINR=R, 3:30 PM 01/21/2019, 91.502, 91.572, 91.426, 91.468, -0.238, (-0.26%) Price
INR
Hourly INR=IN 1:30 PM 01/10/2019 - 9:30 AM 01/22/2019 (DEL) 92.4
Cndl, INR=IN, 3:30 PM 01/21/2019, 71.2250, 71.2675, 71.2250, 71.2450, +0.0650, (+0.09%) Price
INR 92.1
71.4 91.8
71.3
71.2450 91.5
91.468
71.2
71.1 91.2
71
90.9
70.9
70.8 90.6
70.7
90.3
70.6
70.5 90
70.4 00:30 12:30 00:30 16:30 04:30 16:30 04:30 16:30 04:30 16:30 00:30 12:30
70.3 Jan 14 19 Jan 15 19 Jan 16 19 Jan 17 19 Jan 18 19 Jan 21 19
while on the MCX prices rose by 1.1 percent. Weak trade 62.5
62.45
62
numbers from China led to a fall in the global stocks
61.5
which raised concerns about further weakening in the
61
world’s second largest economy. Prices were also 60.5
supported by the rate hike pause by FED which continued 60
to pressurize the Dollar Index. However, prices struggled 59.5
to breach the $1,300 level, even though physical demand 59
11 12 15 16 17 18 19 22
for gold coins had picked up in Britain due to uncertainty January 2019
about its future relations with the European Union.
Britain is due to leave the EU on March 29, but investor. In this week, Brent Oil (CMP: 62.35) is expected to
trade between 61.50 to 64
Hourly XAU= 1:30 AM 01/12/2019 - 10:30 PM 01/21/2019 (DEL)
Cndl, XAU=, 3:30 PM 01/21/2019, 1,279.1200, 1,279.2000, 1,277.1100, 1,278.5600, Price
-2.3900, (-0.19%) USD
Ozs Nifty
1,294
1,292
1,290
Despite global markets showing some signs of recovery,
1,288 last couple of months has been a period of
1,286 consolidation for our markets. The price activity within
1,284 this consolidation became lethargic as we saw overall
1,282 trading range getting contracted in recent weeks. On
1,280
1,278.5600
Tuesday, we finally had a breakout from this congestion
1,278
zone and thereby confirming couple of price patterns.
03:30 15:30 03:30 15:30
Jan 14 19 Jan 15 19
03:30 15:30
Jan 16 19
03:30 15:30
Jan 17 19
03:30 15:30
Jan 18 19
03:30 15:30
Jan 21 19
However, things became more frustrating, as there
were no follow up move seen post the breakout. In
In this week, Gold (CMP: 1278) is expected to trade fact, in last three days, index remained in a slender
between 1265 to 1290 range but individual stocks underwent some decent
price correction. Fortunately, in the midst of this, index
managed to defend 10900 on a closing basis. We
Crude Oil
expect Nifty heading towards 10985 first and then to
test 11050 – 11150 levels
Last week, WTI crude prices rose by 1.9 percent to
whereas on the MCX Oil prices rose by 3.08 percent. Hourly [.NSEI List 1 of 51] .NSEI 2:00 PM 01/11/2019 - 10:00 AM 01/22/2019 (DEL)
Cndl, .NSEI, 3:00 PM 01/21/2019, 10,969.35, 10,978.05, 10,961.95, 10,974.90, Price
Weak trade data from China had pressurized crude +67.75, (+0.62%) INR
10,974.90
10,980
prices. However, Prices were supported by China’s 10,950
plans to boost their economy which has stalled in the 10,920
past couple of months. US crude output surged to 10,890
10,860
about 12 million barrels per day (bpd) amid weaker
10,830
demand which restricted the gains. US Crude
10,800
Inventories declined marginally whereas a large build 10,770
up was seen in the gasoline inventories which pointed 10,740
towards weak demand for oil from the US. Supply cuts 10,710
10,680
by OPEC and other major producers reduced concerns 09:30 13:30 09:30 13:30 09:30 13:30 09:30 13:30 09:30 13:30 09:30 13:30
about excess output. OPEC had decided to reduce Jan 14 19 Jan 15 19 Jan 16 19 Jan 17 19 Jan 18 19 Jan 21 19
output from January 2019 as per its statement in late
In this week, Nifty (CMP: 10980) is expected to
trade between 10750 to 11150