Daily Market Reflection

22 nd August 2016
Market Outlook

USDINR

The Rupee weakened 15 paise to 66.96 against the US dollar in

early trade at the Interbank Foreign Exchange today following
increased demand for the American currency from banks and
importers.
German Producer prices in July 2016 of producer prices for
industrial products fell by 2.0% compared with the corresponding
month of the preceding year. In June 2016 the annual rate of
change all over had been 2.2%. Compared with the preceding
month the overall index rose by 0.2% in July 2016. In July 2016
energy prices decreased by 6.2% compared with July 2015, prices
of intermediate goods by 1.8%.
Fundamental News

Dollar edges up, but on track for weekly loss.

German Producer prices in July 2016: 2.0% on July 2015.
United Kingdom Public Sector Net Borrowing came in at 1.472B, below expectations (-1.2B) in July.
UK Public sector finances decreased by 3.0 billion in the
current financial year-to-date.

Currency Future
Currency
Date

Date

% Chg

18-08-16

19-08-16

USDINR

66.9000

67.1300

+0.34%

EURINR

75.7350

76.0075

+0.36%

GBPINR

88.0125

88.0875

+0.09%

JPYINR

66.6900

66.9650

+0.41%

Event Calendar (22nd August 2016)

Time
Currency Event

Forecast

Previou
s

6:00pm

CAD

Wholesale Sales m/m

0.5%

1.8%

8:00pm

AUD

CB Leading Index m/m

0.1%

Reference Rate
Currency Date
18-08-16
USDINR
66.7939
EURINR
75.5773
GBPINR
87.2596
JPYINR
66.8400

Date
19-08-16
66.9296
75.8714
87.9723
66.8200

%
Change
+0.20%
+0.38%
+0.81%
-0.02%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
67.0262

Prev
Close

%
Chg

66.8100

Dollar Index

94.4300

94.1500

Euro

1.1316

1.1333

0.32%
0.29%
+0.15
%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1340.8 1347.04
-0.46%
1
Silver
19.29
19.61
-1.63%
Crude
48.99
48.92
+0.14%
Copper
2.1615 2.1548
+0.31%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
19/08 JPYINR 66.940
0
Trifid special
Date Currenc Entry
y
19/0 EURINR 75.540
8
0

Exit

P/L

67.022
5

1650

Exit

P/L

75.840
0

12000

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Overview
USDINR

EURINR

USDINR showed pull back from support levels on daily

charts and closed also higher.

EURINR continued the bull rally so observed in last few

sessions and closed strong.

If it sustains above 100 day EMA of 67.2000 then it may

soon surpass the higher resistance of 67.3000 in coming
session. On lower side, 67.0000 is seen as key support.

On daily charts, 76.0000 is seen as important resistance

holding above which can lead it higher while any
correction may find support around 75.8000-75.6000.

R1
67.3000

R1

R2

S1

S2

76.2000

76.4000

75.8000

75.6000

R2
67.5000

S1
67.0000

S2
66.8000

GBPINR

JPYINR

GBPINR extended bulls for the third session after violating

the crucial support level on daily charts.

JPYINR opened flat and then moved with positive

momentum to close the session in green territory.

Now, it may face resistance around the trend line coming

from recent highs i.e. 88.4000 while 87.3000 is seen as
major support from current levels.

If the currency pair is able to hold above 67.0000 mark

then it may lead towards the next resistance of 67.4000
while any closing below 66.5000 can weaken the counter.

R1
88.3000

R1
67.2000

R2
88.5000

S1
88.0000

S2
87.8000

R2
67.4000

S1
66.8000

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S2
66.6000

Intraday Super Star

(Premium Section)

GBPINR sustained higher in the last session but is expected to take resistance as its overall trend is weak and thus, sell
on highs can take off the counter down.
SELL BELOW 88.0400 TARGETS 87.9200/87.8000 SL 88.2400.

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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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