Daily Market Reflection

19th September 2016

Market Outlook

USDINR

The Rupee firmed up 16 paise to 66.86 against the dollar in early

trade on fresh selling of the US currency by exporters and banks
amid a higher opening in the domestic equity market. Further,
foreign fund inflows and a higher opening in the domestic equity
market gave the uptrend some momentum.
Most emerging Asian currencies rebounded on Friday as weak US
economic data reduced expectations for an early increase in US
interest rates, but regional units still were set to post weekly losses
on doubts over how much more stimulus major central banks can
offer.
Fundamental News

Dollar sags after lacklustre U.S. data, commodity currencies

supported.
Weak U.S. data support Asia FX; weekly losses seen on
monetary policy woes.
European Monetary Union Labour cost down to 1% in 2Q
from previous 1.7%.

Currency Future
Currency
Date

Date

% Chg

15-09-16

16-09-16

USDINR

67.1275

67.1125

-0.02%

EURINR

75.4350

75.3225

-0.15%

GBPINR

88.8000

88.4225

-0.43%

JPYINR

65.5675

65.8675

+0.46%

Event Calendar (19th September 2016)

Time
Currency Event

Forecast

Previou
s

3:30 am

NZD

Westpac Consumer
Sentiment

106.0

4:31 am

GBP

Rightmove HPI m/m

-1.2%

1:30pm

EUR

Current Account

27.2B

28.2B

Tentative

EUR

7:30pm

USD

60

60

8:00pm

AUD

0.1%

German Buba Monthly

Report
NAHB Housing Market
Index
CB Leading Index m/m

Reference Rate
Currency Date
15-09-16
USDINR
67.0248
EURINR
75.3627
GBPINR
88.7073
JPYINR
65.5800

Date
16-09-16
66.8804
75.1535
88.4694
65.5200

%
Change
-0.21%
-0.27%
-0.26%
-0.09%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.9850

Prev
Close

%
Chg

67.0250

Dollar Index

96.0600

95.2800

Euro

1.1153

1.1241

0.05%
+0.81
%
0.78%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1310.7 1313.93
-0.24%
4
Silver
18.76
18.87
-0.58%
Crude
43.19
43.67
-1.09%
Copper
2.1410 2.1430
-0.09%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
16/09 GBPINR 88.620
0
Trifid special
Date Currenc Entry
y
07/0 GBPINR 89.000
9
0

Exit

P/L

88.380
0

4800

Exit

P/L

89.300
0

12000

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Overview
USDINR

EURINR

USDINR opened on lower note as compared to previous

close but gained momentum in the second half to close
flat.

EURINR traded in the same range but remained on lower

levels as of previous close.

Any closing above 67.1500 can lift the counter towards

the next resistance of 67.3000 while 66.9000 is still seen
as strong support for the counter.
R1
67.2000

R2
67.3000

S1
67.0000

S2
66.9000

On daily charts, 100 day EMA of 75.1000 is seen as

strong support for the counter whereas 75.6000 may act
as important resistance for the counter.

R1

R2

S1

S2

75.5000

75.7000

75.2000

75.0000

GBPINR

JPYINR

GBPINR again faced resistance at higher levels as seen

in the previous session and showed sharp downfall.

JPYINR traded higher and sustained above resistance

levels for most part of the session.

Now, it is again near to its key support of 88.3000

surpassing which can drag it to deeper supports while sell
offs can still be seen on highs.

Strength is expected to continue till it sustains above the

key resistance of 65.8000 on closing basis and may find
resistance in the range of 66.0000-66.1000.

R1
88.6000

R1
66.0000

R2
88.8000

S1
88.3000

S2
88.1000

R2
66.2000

S1
65.7000

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S2
65.5000

Intraday Super Star

(Premium Section)

GBPINR showed sharp downfall in the previous session and closed above the support level as seen on daily chart
above. If it breaches this mark then the counter may move towards deeper supports.
SELL BELOW 88.3275 TARGETS 88.2075/88.0875 SL 88.5275.

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Trifid Special
(Premium Section)

JPYINR strongly showed a pull back after the previous day correction and now is expected to give positive breakout
above the mentioned level and may rise towards the trend line as seen on daily chart.
BUY ABOVE 65.7300 TARGET 66.0300 SL 65.2300.

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