Daily Market Reflection

15th September 2016

Market Outlook

USDINR

Extending losses for the third day, the Rupee dropped by another 7
paise to 66.99 against the US dollar in early trade today at
Interbank Foreign Exchange market as the American currency
strengthened overseas.
In July 2016 compared with June 2016, seasonally adjusted
industrial production fell by 1.1% in the euro area. In September
2016, the ZEW-CS Indicator for the economic sentiment in
Switzerland rose by 5.5 points to a reading of 2.7 points. This is the
first increase of the ZEW-CS after it had been falling for the last two
months.
Fundamental News

Yen slips on reports of further BOJ easing.

Ringgit, rupiah lead Asia FX losses as global bonds tumble;
yuan firms.
Industrial production down by 1.1% in euro area.
United Kingdom Claimant Count Rate remains unchanged
at 2.2% in August.

Currency Future
Currency
Date

Date

% Chg

12-09-16

14-09-16

USDINR

67.0525

67.0350

-0.03%

EURINR

75.2725

75.2925

+0.03%

GBPINR

88.9375

88.5600

-0.42%

JPYINR

65.7525

65.3000

-0.69%

Event Calendar (15th September 2016)

Time
Currency Event

Forecast

Previou
s

10:03 am

JPY

Revised Industrial
Production m/m

-0.4%

0.0%

12:15pm

EUR

French Final CPI m/m

0.3%

0.3%

2:00pm

GBP

Average Earnings Index

3m/y

2.3%

2.5%

2:00pm

GBP

Claimant Count Change

2.4K

-3.6K

2:00pm

GBP

Unemployment Rate

4.9%

4.9%

6:00pm

USD

Import Prices m/m

-0.1%

0.1%

Reference Rate
Currency Date
12-09-16
USDINR
66.9017
EURINR
75.2176
GBPINR
88.7719
JPYINR
65.2600

Date
14-09-16
66.9642
75.2075
88.4932
64.8300

%
Change
+0.09%
-0.01%
-0.31%
-0.65%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.8925

Prev
Close

%
Chg

66.9238

Dollar Index

95.5200

95.5800

Euro

1.1274

1.1224

0.04%
0.06%
+0.44
%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1328.6 1330.43
-0.13%
0
Silver
19.12
19.20
-0.41%
Crude
45.53
45.83
-0.65%
Copper
2.0848 2.0843
+0.02%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
09/09 EURINR 75.260
0
Trifid special
Date Currenc Entry
y
07/0 GBPINR 89.000
9
0

Exit

P/L

75.380
0

2400

Exit

P/L

89.300
0

12000

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Overview
USDINR

EURINR

USDINR opened gap up but gradually dragged during the

session and closed on a flat to negative note.

EURINR showed sideways to negative momentum during

the last session and closed flat.

On daily charts, it is facing stiff resistance around 100 day

EMA and closed below it. Now, any closing below 66.9000
can further weaken the counter.

It took strong support around 100 day EMA of 75.1150

and now sell offs can be seen if it holds below it while
75.6000 is still seen as immediate resistance.

R1
67.2000

R1

R2

S1

S2

75.4000

75.6000

75.1000

74.9000

R2
67.4000

S1
66.9000

S2
66.7000

GBPINR

JPYINR

GBPINR after much consolidation on daily chart broke the

support range and closed below it.

JPYINR opened gap down and sustained on lower side

for the entire session.

Further tapering can make the counter to drop towards

the next support of 88.3000 whereas any closing above
88.8000 can strengthen the currency pair.

It gave strong closing in the previous session but is

unable to surpass the resistance. Hence, resistance is
again seen around 65.8000 while support around
64.9300.

R1
88.6000

R1
65.4000

R2
88.8000

S1
88.4000

S2
88.2000

R2
65.6000

S1
65.1000

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S2
64.9000

Intraday Super Star

(Premium Section)

JPYINR was not able to sustain on higher side as seen in the last session and so sharp downfall so seen suggests that
sell offs can be witnessed on highs.
SELL BELOW 65.2100 TARGETS 65.0900/64.9700 SL 65.4100.

www.trifidresearch.com | Email id: info@trifidresearch.com | Toll Free: 1800-270-1410

Trifid Special
(Premium Section)

GBPINR broke the important support zone and closed below it. Selling pressure is expected to continue in the counter
which can drag it further.
SELL BELOW 88.4100 TARGET 88.1100 SL 88.9100.

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