Daily Market Reflection

25 th August 2016
Market Outlook

USDINR

The Rupee weakened by 9 paise to 67.15 against the dollar in early

trade today at the Interbank Foreign Exchange market on fresh
demand for the American currency from importers. Strength in dollar
against some other currencies overseas weighed on the rupee but
a higher opening in the domestic equity market capped the losses.
Germany's economy has continued to grow, but at a slightly slower
pace. As the Federal Statistical Office already reported in its first
release of 12 August 2016,the gross domestic product (GDP)
increased by 0.4% in the second quarter of 2016 compared with the
first quarter of 2016.
Fundamental News

Asian currencies slip, rupiah touches 2-month low.

Dollar edges up, as investors wait on Fed, Jackson Hole.
United Kingdom BBA Mortgage Approvals below forecasts
(38.5K) in July: Actual (37.662K).
Germany Gross Domestic Product w.d.a (YoY) unchanged
at 1.8% in 2Q.

Currency Future
Currency
Date

Date

% Chg

23-08-16

24-08-16

USDINR

67.1150

67.1550

+0.06%

EURINR

76.0625

75.6950

-0.48%

GBPINR

88.5575

88.9100

+0.40%

JPYINR

66.9775

66.9900

+0.02%

Event Calendar (25th August 2016)

Time
Currency Event
German Ifo Business
Climate
Core Durable Goods
Orders m/m

Forecast

Previou
s

108.5

108.3

0.4%

-0.4%

1:30pm

EUR

6:00pm

USD

6:00pm

USD

Unemployment Claims

265K

262K

6:00pm

USD

Durable Goods Orders

m/m

3.4%

-3.9%

7:15pm

USD

Flash Services PMI

51.9

51.4

All Day

ALL

Jackson Hole
Symposium

Reference Rate
Currency Date
23-08-16
USDINR
67.0885
EURINR
76.0381
GBPINR
88.2885
JPYINR
67.0300

Date
24-08-16
67.1320
75.8055
88.3860
66.9000

%
Change
+0.06%
-0.30%
+0.11%
-0.19%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
67.1150

Prev
Close

%
Chg

67.0625

Dollar Index

94.6600

94.5300

Euro

1.1280

1.1299

+0.07
%
+0.13
%
0.16%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1337.8 1337.94
-0.01%
0
Silver
18.85
18.92
-0.36%
Crude
47.30
47.53
-0.48%
Copper
2.0973 2.0992
-0.09%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
23/08 GBPINR 88.250
0
Trifid special
Date Currenc Entry
y
19/0 EURINR 75.540
8
0

Exit

P/L

88.490
0

4800

Exit

P/L

75.840
0

12000

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Overview
USDINR

EURINR

USDINR again traded in subdued manner for the second

consecutive session and closed flat.

EURINR seems to take reversal from higher levels and

previous session closed in red territory.

Bears can become aggressive if it the currency pair lies

below 67.0000. On higher side, 67.3000 is seen as
immediate resistance.

Now, it may fall towards the next support zone of

75.5000-75.3000 on daily charts whereas 75.800076.0000 may again act as resistance for the counter.

R1
67.3000

R1

R2

S1

S2

75.9000

76.1000

75.6000

75.4000

R2
67.5000

S1
67.0000

S2
66.8000

GBPINR

JPYINR

GBPINR continued the bull rally so witnessed from lower

levels and again closed on a strong note.

JPYINR has been trading in the same resistance zone

since last few sessions.

Now, 89.0000 is seen as the key resistance mark for the

counter sustaining above which can lead it towards
89.3000 while 88.4000 may act as support.

On holding above 67.1000 can bring the counter towards

northwards direction while 66.6000 is seen as key
support from current levels.

R1
89.0000

R1
67.1000

R2
89.2000

S1
88.7000

S2
88.5000

R2
67.3000

S1
66.8000

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S2
66.6000

Intraday Super Star

(Premium Section)

JPYINR is able to sustain on higher levels since last few sessions and is expected to extend the bulls in coming session
as well if the counter holds above the mentioned level.
BUY ABOVE 67.0200 TARGETS 67.1400/67.2600 SL 66.8200.

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Trifid Special
(Premium Section)

EURINR extended the bulls towards the key resistance as shown in the daily chart above and now positive momentum
can be seen further if it sustains above it.
BUY ABOVE 76.0500 TARGET 76.3500 SL 75.5500.

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