Daily Market Reflection

14th October 2016

Market Outlook

USDINR

The Rupee was trading lower by 29 paise against dollar in early

trade at the Interbank Foreign Exchange market as the dollar
strengthened overseas amid a lower opening of the domestic equity
market. Increased demand for the US currency from importers and
gains against other currencies overseas after minutes of the
Federal Reserve's last meeting pointed at an interest rate hike this
year, put pressure on the rupee.
A poor batch of Chinese trade numbers halted the dollar's broader
rally on Thursday and sent the offshore version of the country's
yuan currency to within sight of lows hit in a dramatic sell-off in
January.
Fundamental News

Chinese trade dip halts dollar, sends yuan to 6-year low.

Dollar falls from 2-1/2 month high vs yen after weak China
trade data.
Singapore dlr hits 7-mth low pre-MAS decision; China data
hurts Asia FX.
German Consumer prices in Sep16: +0.7% on Sep15.

Currency Future
Currency
Date

Date

% Chg

10-10-16

13-10-16

USDINR

66.6750

67.0225

+0.52%

EURINR

74.4925

73.9750

-0.69%

GBPINR

82.9300

81.8500

-1.30%

JPYINR

64.5200

64.6325

+0.17%

Event Calendar (14th October 2016)

Time
Currency Event

Forecast

Previou
s

2:00 pm

GBP

BOE Credit Conditions

Survey

6:00 pm

USD

Core Retail Sales m/m

0.4%

-0.1%

6:00 pm

USD

PPI m/m

0.2%

0.0%

6:00 pm

USD

Retail Sales m/m

0.6%

-0.3%

92.1

91.2

Tentative

GBP

7:30 pm

USD

BOE Gov Carney

Speaks
Prelim UoM Consumer
Sentiment

Reference Rate
Currency Date
10-10-16
USDINR
66.5856
EURINR
74.4027
GBPINR
82.4796
JPYINR
64.5600

Date
13-10-16
66.8473
73.6657
81.3131
64.4400

%
Change
+0.39%
-0.99%
-1.41%
-0.18%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.9200

Prev
Close

%
Chg

66.5338

Dollar Index

97.8500

97.9900

Euro

1.1021

1.1023

+0.58
%
0.14%
0.01%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1259.5 1260.21
-0.05%
0
Silver
17.55
17.61
-0.34%
Crude
50.15
49.76
+0.78%
Copper
2.1487 2.1588
-0.46%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
13/10 GBPINR 82.800
0
Trifid special
Date Currenc Entry
y
07/1 GBPINR 84.770
0
0

Exit

P/L

82.600
0

4800

Exit

P/L

84.470
0

12000

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Overview
USDINR

EURINR

USDINR did not extend the bears and opened gap up and
gradually rose throughout the session to close high.

EURINR breached the important support level of 74.3800

on daily chart and closed below it.

On daily chart, it again closed near to the important

resistance of 100 day EMA of 67.1000 and may reach
67.2200 if holds above it. Immediate support is 66.8000.

On daily charts, it seems to be a major breakdown and

73.7000 is seen as key support from current levels while
74.4000 may act as good resistance.

R1
67.2000

R1

R2

S1

S2

74.1000

74.3000

73.8000

73.6000

R2
67.3000

S1
66.9000

S2
66.8000

GBPINR

JPYINR

GBPINR further broke the immediate support levels and

closed towards deeper supports.

JPYINR gradually inched higher after a gap down

opening and closed in green territory.

Closing below 82.0000 mark is itself a weak sign which

indicates 81.0000 as the next support. On correction,
82.6000 may act as immediate resistance for the pair.

On daily chart, it was able to close above the major

support of 100 day EMA and may result in some
correction on higher side, Important support is in range
64.4000-64.3000.

R1
82.0000

R1
64.7000

R2
82.2000

S1
81.6000

S2
81.4000

R2
64.9000

S1
64.4000

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S2
64.2000

Intraday Super Star

(Premium Section)

GBPINR dropped towards the deeper support levels and weak closing indicates the selling pressure may continue in the
coming session as well.
SELL BELOW 81.6900 TARGETS 81.5700/81.4500 SL 81.8900.

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Trifid Special
(Premium Section)

JPYINR on daily charts found support around the crucial level of 100 day EMA and a double top pattern is also seen as
shown in the chart above. If the pair holds below the level so given then sell offs could be seen.
SELL BELOW 64.4000 TARGET 64.1000 SL 64.9000.

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