Daily Market Reflection

18th May 2016

USDINR

Market Outlook
Indian currency appreciated in the early session against greenback on
back of positive sentiments in most Asian currencies but soon lost its
shine as the session moved forward and finally settled on flat note.
One of the major events awaited was UK Consumer Prices Index (CPI)
which rose by 0.3% in the year to April 2016, down from 0.5% in the
year to March. From late 2015, the rate began to increase gradually

Reference Rate

from close to zero. The drop in April 2016 is the first fall since
September 2015.

Currency

Date
Date
16-05-16 17-05-16
66.8216
66.7233
75.5953
75.4907
95.9625
96.5953
61.4500
61.0700

Fundamental News

Dollar edges down, Aussie soars on less dovish RBA minutes.

South Korea won up on renewed risk demand, stocks edge

down.

UK CPI softens in April, drops for the 1st time since

Currencies vs $

September.

USDINR
EURINR
GBPINR
JPYINR

Currency

Euro area international trade in goods surplus 28.6 bn.

Rupee
Dollar Index
Euro
Pound
Japanese Yen

Currency Future
Currency

Date

Date

16-05-16

17-05-16

USDINR

66.9675

67.0150

+0.07%

EURINR

75.8400

75.8625

+0.03%

GBPINR

96.2100

96.9900

+0.81%

JPYINR

61.4775

61.2125

-0.49%

% Chg

Currency

Event

Forecast

Close
(5:00pm)
66.8750
94.5800
1.1306
1.4459
109.43

Prev
Close
66.8050
94.5500
1.1318
1.4482
108.92

% Chg
+0.10%
+0.03%
-0.10%
-0.15%
+0.46%

Global Commodities

Event Calendar (18th May 2016)

Time

%
Change
-0.14%
-0.13%
+0.65%
-0.61%

Previous

5:20am

JPY

Prelim GDP q/q

0.1%

-0.3%

2:00pm

GBP

Average Earnings Index

3m/y

1.7%

1.8%

2:00pm

GBP

Claimant Count Change

4.0K

6.7K

2:00pm

GBP

Unemployment Rate

5.1%

5.1%

2:30pm

EUR

Final CPI y/y

-0.2%

-0.2%

11:30pm

USD

FOMC Meeting Minutes

Commodity
Gold
Silver
Crude
Copper

Close
1272.38
17.10
48.42
2.0730

Prev.Close
1278.56
17.22
48.87
2.0868

% Chg
-0.48%
-0.69%
-0.92%
-0.66%

Our Previous calls update

Intraday super star
Date
Currency Entry
Exit
P/L
17/05 EURINR 75.7000 75.8700 -3400
Trifid special
Date Currency Entry
Exit
P/L
10/05 GBPINR 96.5700 97.0700 20000
For our next calls click here..

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Overview
USDINR

EURINR

USDINR opened on lower note on strengthening of Rupee

EURINR opened on lower note but showed pull back from

against dollar but soon Indian currency lost its shine and the

bottom levels to close on a flat to positive note.

pair closed on positive note.

Now, if it is able to sustain above 100 day EMA then it may

It is expected to find support near the trend line as shown in

daily chart above i.e. around 75.5000 while any closing

lead higher while 66.8000 is still acting as important support.

above 76.1000 can firm the trend of the pair.

R1
67.1000

R1

R2

S1

S2

76.0000

76.10000

75.7000

75.5000

R2
67.2000

S1
66.8000

S2
66.7000

GBPINR

JPYINR

GBPINR jumped sharply against the previous session close

JPYINR showed weak trend for the entire session after

and closed with gains of approx 0.80%.

opening on lower side.

It took resistance of 100 day EMA i.e. around 97.0700 and so

On daily charts, it took support exactly near the trend line

sustaining above it can again show bulls while 96.7000 is seen

and 62.9000 is expected as good support for it while 61.5000

as immediate support level.

is seen as resistance ahead.

R1
97.1000

R2
97.3000

S1
96.7000

S2
96.5000

R1
61.4000

R2
61.6000

S1
61.0000

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S2
60.8000

Intraday Super Star

(Premium Section)

Currency found support around the trend line so coming from deeper support and it still looks weaker against the Indian
currency hence selling pressure is expected in the counter.
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Trifid Special
(Premium Section)

Currency closed near to the important resistance of 100 day EMA and now seems to move ahead as is expected to surpass the
resistance and may reach upper resistance levels.
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