Daily Market Reflection

28th October 2016

Market Outlook

USDINR

The Rupee lay low for the second session as it weakened 10 paise
to 66.93 against the dollar today as the latter rose overseas amid a
lower opening in domestic stocks. Sustained demand for the
American currency from importers was also at work.
UK GDP first estimate revealed that the pace of growth in economy
has slowed somewhat in the third quarter, in wale of the Brexit vote.
The report showed that the FDP figures came in at 0.5% q/q in the
third quarter of 2016, down from 0.7% booked in the second
quarter, although surpassed expectations of only 0.3% increase in
Sept quarter.
Fundamental News
Dollar near 3-month high vs yen, boosted by U.S. bond
yields.
Sliding yuan drags Asia FX lower; bond outflows hit won.
United Kingdom Gross Domestic Product (QoQ) came in at
0.5%, above expectations (0.3%) in 3Q.
Greece Producer Price Index (YoY) increased to -3% in
September from previous -4%.
Currency Future
Currency
Date
Date
% Chg

26-10-16

27-10-16

USDINR

67.1525

67.1575

+0.01%

EURINR

73.3925

73.4500

+0.08%

GBPINR

82.0675

82.3900

+0.39%

JPYINR

64.4175

64.1400

-0.43%

Event Calendar (28th October 2016)

Time
Currency Event

Forecast

Previou
s

5:00 am

JPY

Household Spending y/y

-2.6%

-4.6%

5:00 am

JPY

Tokyo Core CPI y/y

-0.5%

-0.5%

All Day

EUR

German Prelim CPI m/m

0.1%

0.1%

12:30 pm

EUR

Spanish Flash CPI y/y

0.3%

0.2%

6:00 pm

USD

Advance GDP q/q

2.5%

1.4%

6:00 pm

USD

Employment Cost Index

q/q

0.6%

0.6%

Reference Rate
Currency Date
26-10-16
USDINR
66.7621
EURINR
72.8174
GBPINR
81.3630
JPYINR
64.1300

Date
27-10-16
66.8854
72.9385
81.6938
63.9300

%
Change
+0.18%
+0.16%
+0.40%
-0.31%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.8663

Prev
Close

%
Chg

66.8325

Dollar Index

98.5600

98.5900

Euro

1.0918

1.0900

+0.05
%
0.03%
+0.16
%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1269.9 1266.34
+0.28%
0
Silver
17.69
17.59
+0.56%
Crude
49.44
49.24
+0.40%
Copper
2.1463 2.1223
+1.13%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
27/10 JPYINR 64.312
5
Trifid special
Date Currenc Entry
y
26/1 GBPINR 81.920
0
0

Exit

P/L

64.192
5

2400

Exit

P/L

81.620
0

12000

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Overview
USDINR

EURINR

USDINR moved in the same range as of previous session

and closed the session on a flat note.

EURINR was able to sustain around the previous close

and finally settled on a flat to positive note.

Key resistance seen ahead is 67.3000 on daily chart and

any closing above it can result in positive momentum
while 100 day EMA of 67.0000 may act as good support.

Trend for the pair is weak and so it is expected to face

resistance in the range of 73.5000-73.7500 while
73.2500 may act as immediate support.

R1
67.3000

R1

R2

S1

S2

73.5000

73.7000

73.2000

73.0000

R2
67.4000

S1
67.0000

S2
66.9000

GBPINR

JPYINR

GBPINR extended the bulls so seen by the counter in the

previous session and closed on a positive note.

JPYINR continuously fell throughout the session

extending the bears so seen in previous session.

If it sustains above 82.4000 then it may inch towards

83.0000 or above levels. However, pair usually shows
selling pressure on highs and so 81.6500 will act as key
support.

On daily chart, 100 day EMA of 64.4000 is acting as

strong resistance and if it continues to drop then 63.9000
will act as important support for the counter.

R1
82.5000

R1
64.3000

R2
82.7000

S1
82.2000

S2
82.0000

R2
64.5000

S1
64.0000

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S2
63.8000

Intraday Super Star

(Premium Section)

JPYINR showed selling pressure during the session and closed on weak note. On daily chart, it is expected to continue
the bears towards its key support.
SELL BELOW 64.1150 TARGETS 63.9950/63.8750 SL 64.3150.

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Trifid Special
(Premium Section)

EUTINR violated the immediate support on daily chart and showed pull back and also closed above the trend line. If it
sustains above it then buying momentum can be seen in the pair.
BUY ABOVE 73.4600 TARGET 73.7600 SL 72.9600.

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