Daily Market Reflection

02 nd June 2016
Market Outlook

USDINR

Indian Rupee appreciated against dollar in the early trades on

Wednesday on back firm economic indicator suggesting strong foot
of Indian economy as GDP showed that it grew by 7.9% in March
quarter. Yet, it cannot cheer Rupee for long and it depreciated
during the session and finally settled on negative note.
UKs manufacturing sector activity rebounded sharply in May, as the
final Purchasing Managers' Index (PMI) rose to 50.1 points in May,
after a revised weak reading of 49.4 points booked in April.

Reference Rate
Currency

Fundamental News
Yen surges on Brexit fears, Tokyo delay on sales tax
hike.
Dollar sits below 2-mth high; Aussie buoyed by solid
GDP.
China's yuan nears 5-year low as dollar strength persists.
Eurozone Manufacturing PMI falls to three-month low.
Sri Lankan rupee forwards edge down on importer dollar
demand.
Currency Future

Currency

Date

Date

% Chg

31-05-16

01-06-16

USDINR

67.7675

67.6000

+0.25%

EURINR

75.5550

75.7350

+0.24%

GBPINR

98.8050

97.8225

-0.99%

JPYINR

60.9400

61.9475

+1.65%

USDINR
EURINR
GBPINR
JPYINR

%
Change
+0.22%
+0.23%
-1.13%
+1.50%

Currencies vs $
Currency

Prev
Close

% Chg

Rupee

Close
(5:00pm
)
67.4275

67.2600

Dollar Index

95.5600

95.8000

Euro

1.1159

1.1123

+0.24
%
0.25%
+0.32
%

Global Commodities
Commodity

Close

Gold

1216.9
1
15.92
48.42
2.0530

nd

Event Calendar (02 June

2016)
Time
Currency
Event

Date
Date
31-0501-0616
16
67.2030 67.3526
74.7902 74.9634
98.6540 97.5333
60.4000 61.3100

Forecast

Previous

Silver
Crude
Copper

Prev.Clos
e
1214.24

% Chg

15.96
48.64
2.0602

-0.25%
-0.45%
-0.34%

+0.21%

Our Previous calls update

Intraday super star
Date Currenc Entry
Exit
y
01/06 USDINR Trifid special

P/L

268K

Date

10/0
5

2:00pm

GBP

Construction PMI

51.9

52.0

5:15pm

EUR

Minimum Bid Rate

0.00%

0.00%

5:45pm

USD

ADP Non-Farm
Employment Change

177K

156K

6:00pm

EUR

ECB Press Conference

6:00pm

USD

Unemployment Claims

270K

6:30pm

GBP

BOE Gov Carney

Speaks

Currenc
y
GBPINR

Entry

Exit

P/L

96.570
0

97.070
0

2000
0

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Overview
USDINR

EURINR

USDINR remained on lower side for the early part of the

session but gained in the later half and closed higher.

EURINR rallied higher during the session from lower

levels and closed on a strong note.

Bulls so gained today will find resistance around 67.9000

and closing above it can provide it strength while 67.4000
may act as immediate support.

Trend line so coming from recent highs may act as

important resistance while 100 day EMA of 75.0000 is
seen as crucial support.

R1
68.0000

R1

R2

S1

S2

75.9000

76.1000

75.5000

75.3000

R2
68.2000

S1
67.6000

S2
67.4000

GBPINR

JPYINR

GBPINR opened gap down and remained lower for the

whole session and closed in negative territory.

JPYINR strongly rallied during the session to close near

to the stiff resistance mark on daily charts.

If it moves in northward direction then 98.2000-98.4000 is

seen as resistance range while 100 day EMA of 97.3500
will act as key support.

If it strongly holds above 62.1000 then it may move

towards next resistance 62.5000 while any closing below
61.6000 may result in certain weakness.

R1
98.0000

R1
62.1000

R2
98.2000

S1
97.6000

S2
97.4000

R2
62.3000

S1
61.7000

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S2
61.5000

Intraday Super Star

(Premium Section)

JPYINR showed strong pull back from lower levels and strengthened near resistance levels. If it continues the northward
movement then it may further lead higher.
BUY ABOVE 62.1000 TARGETS 62.2200/62.3500 SL 61.9000.

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Trifid Special
(Premium Section)

USDINR tends to fall towards 100 day EMA in coming few sessions as it is constantly finding resistance at higher levels
and so sell offs can be seen in this counter.
SELL BELOW 67.4500 TARGET 67.2000 SL 67.8500.

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