Daily Market Reflection

26th May 2016

USDINR

Market Outlook
Indian Rupee snapped its losing streak of nine days against the
American currency in early trade on Wednesday and sustained on
lower levels and finally settled in red territory. Most emerging Asian
currencies rose on Wednesday, tracking stronger equities, while a weak
Chinese yuan and expectations of an imminent U.S. interest rate hike
kept investors from adding bullish bets on regional units.

Reference Rate

Better than expected home sales data raised the dollar to hit two month
high against the basket of currencies.

Currency

Date
Date
24-05-16 25-05-16
67.7060
67.4467
75.9323
75.2098
98.0654
98.5599
61.9700
61.3200

Fundamental News

Rupee snaps 9-day losing streak against the greenback.

Dollar at 2-month highs on rate view, Greek deal helps euro.

Sri Lankan rupee forwards down on importer dollar

USDINR
EURINR
GBPINR
JPYINR

demand; stocks up.

Currencies vs $

Strong equities support Asia FX; yuan, Fed rate view check

Currency

gains.
Rupee
Dollar Index
Euro
Pound
Japanese Yen

Currency Future
Currency

Date

Date

24-05-16

25-05-16

USDINR

67.7825

67.3925

+0.41%

EURINR

75.8325

75.1500

-0.90%

GBPINR

98.9575

98.9625

+0.01%

JPYINR

61.8450

61.1800

-1.08%

% Chg

Currency

Event

Forecast

Previous

5:20am

JPY

SPPI y/y

0.2%

0.2%

2:00pm

GBP

Second Estimate GDP q/q

0.4%

0.4%

2:00pm

GBP

3.2%

-2.0%

6:00pm

USD

0.3%

-0.2%

6:00pm

USD

Unemployment Claims

275K

278K

6:00pm

USD

Durable Goods Orders

m/m

0.3%

0.8%

Prelim Business
Investment q/q
Core Durable Goods
Orders m/m

Close
(5:00pm)
67.4025
95.6000
1.1142
1.4658
110.20

Prev
Close
67.7550
95.5900
1.1155
1.4610
109.88

% Chg
-0.52%
+0.01%
-0.11%
+0.32%
+0.29%

Global Commodities

Event Calendar (26th May 2016)

Time

%
Change
-0.38%
-0.95%
+0.50%
-1.04%

Commodity
Gold
Silver
Crude
Copper

Close
1220.89
16.19
49.21
2.0705

Prev.Close
1228.51
16.27
49.27
2.0765

% Chg
-0.62%
-0.49%
-0.12%
-0.28%

Our Previous calls update

Intraday super star
Date
Currency Entry
25/05 USDINR Trifid special

Exit
-

P/L
-

Date Currency Entry

Exit
P/L
10/05 GBPINR 96.5700 97.0700 20000
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Overview
USDINR

EURINR

USDINR opened on lower note and continued to drag

EURINR dragged for the entire session after reversals so

throughout the session and closed in red territory after a

seen on daily charts in the previous session

continuous winning streak.

On daily charts, if it continues to fall then below 67.3000, it

The pair closed below the trend line acting as strong support
and hence weakness may prevail in the counter towards

may fall towards 67.1000 while 67.6000 is seen as resistance.

74.9000 while immediate resistance is seen near 75.5000.

R1
67.7000

R1

R2

S1

S2

75.4000

75.6000

75.0000

74.8000

R2
67.9000

S1
67.3000

S2
67.1000

GBPINR

JPYINR

GBPINR traded in sideways manner for most part of the

JPYINR was not able to sustain on higher side and fell

session but showed strength in the last hour and closed

sharply in the intraday session and closed near to the deeper

strong.

support levels.

The pair is taking strict resistance around 99.0000 and any

On daily charts, 61.0000 is seen as important support level

closing above it may further take it higher.

while 61.5000 may act as immediate resistnace.

R1
98.9000

R2
99.1000

S1
98.5000

S2
98.3000

R1
61.4000

R2
61.6000

S1
61.1000

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S2
60.9000

Intraday Super Star

(Premium Section)

Currency surpassed the trend line which was coming from deeper lows and closed below it which suggests sell offs may
become aggressive if it sustains below the mentioned level.
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Trifid Special
(Premium Section)

Currency is taking constant support at lower levels and intends to move northwards from such bottom levels. If it is able to
sustain above the trend line then it may show a short bull rally in coming sessions.
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