Daily Market Reflection

04th November 2016

Market Outlook

USDINR

The Indian rupee gained nearly 2 paise against dollar in early trade
on Thursday after opening on a flat note at 66.72. Some selling of
the greenback by banks and importers supported the local currency.
Meanwhile, domestic equity markets opened on a cautious note
tracking mixed global cues.
The services sector activity in UK economy improved much betterthan markets expectations last month, hitting the highest levels
since March 2011, a fresh report from Markit Economics showed on
Thursday.
Fundamental News

Dollar plagued by U.S. election jitters, with jobs data ahead.

China's yuan steady, investors sidelined as race for White
House tightens.
United Kingdom Markit Services PMI above forecasts (52.4)
in October: Actual (54.5).
Italy Unemployment came in at 11.7%, above forecasts
(11.4%) in September.

Currency Future
Currency
Date

Date

% Chg

02-11-16

03-11-16

USDINR

66.9850

66.9650

-0.03%

EURINR

74.2700

74.1800

-0.12%

GBPINR

82.1100

83.1525

+0.94%

JPYINR

63.8625

64.9125

+0.19%

Event Calendar (04th November 2016)

Time
Currency Event
MPC Member Cunliffe
Speaks
Average Hourly Earnings
m/m
Non-Farm Employment
Change

Forecast

Previou
s

0.3%

0.2%

174K

156K

2:25 am

EUR

6:00 pm

USD

6:00 pm

USD

6:00 pm

USD

Unemployment Rate

4.9%

5.0%

6:00 pm

USD

Trade Balance

-37.5B

-40.7B

6:00 pm

USD

MPC Member Forbes

Speaks

Reference Rate
Currency Date
02-11-16
USDINR
66.8294
EURINR
73.9354
GBPINR
81.8861
JPYINR
64.3700

Date
03-11-16
66.6942
74.1506
82.2473
64.9500

%
Change
-0.20%
+0.29%
+0.44%
+0.90%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.7112

Prev
Close

%
Chg

66.7200

Dollar Index

97.2500

97.39

Euro

1.1093

1.1115

0.01%
0.14%
0.19%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1292.1 1304.56
-0.95%
6
Silver
18.16
18.61
-2.41%
Crude
45.67
45.76
-0.19%
Copper
2.2218 2.2133
+0.38%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
3/11
USDINR 66.935
0
Trifid special
Date Currenc Entry
y
2/11 EURINR 73.760
0

Exit

P/L

66.877
5

1150

Exit

P/L

74.060
0

12000

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Overview
USDINR

EURINR

USDINR was unable to gain momentum as faced strict

resistance and finally settled on a flat note.

EURINR after a gap up opening slipped to fall towards

the previous sessions support.

According to daily chart, if it closes above 100 day EMA of

67.0300 then some strength can be seen in the pair while
66.8000 may act as immediate support.

If it closes below the key support of 74.0000 then sell offs

can further take the counter towards deeper support
levels whereas 74.6000 is seen as strict resistance.

R1
67.1000

R1

R2

S1

S2

74.4000

74.6000

74.1000

73.9000

R2
67.2000

S1
66.8000

S2
66.7000

GBPINR

JPYINR

GBPINR rose throughout the session and positive

momentum carried it towards the immediate resistance.

JPYINR although sustained higher against the previous

closed but sustained below the intraday opening.

If it continues to show up move then 83.6000 may act as

stiff resistance while 82.5000 will now act as important
support for the pair.

On daily chart, the candlestick so formed suggests sell

offs can be seen towards the support of 64.5000 while
65.2500 will now be seen as key resistance.

R1
83.4000

R1
65.2000

R2
83.6000

S1
83.1000

S2
82.9000

R2
65.4000

S1
64.8000

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S2
64.6000

Intraday Super Star

(Premium Section)

EURINR closed around the important support level as of previous session and if it surpasses this lower consolidation in
the coming session then sell offs could be seen.
SELL BELOW 74.1550 TARGETS 74.0350/73.9150 SL 74.3550.

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Trifid Special
(Premium Section)

JPYINR showed strong reversals from lower levels and close on strong note near to the key resistance levels in the last
session. It is expected to surpass the immediate resistance and showed bullish movement.
BUY ABOVE 65.0000 TARGET 65.3000 SL 64.6000.

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