Daily Market Reflection

05th October 2016

Market Outlook

USDINR

The Rupee rose against the US dollar after the central bank
reduced the benchmark repo rate by 25 basis points to 6.25%,
citing slower inflation and a pick up in the growth momentum. The
rupee rose to 66.39 per dollar after the RBIs rate cut on
expectations that the cut will boost credit and give a fillip to
economic growth.
The Pound slumped to a 31-year low against the dollar Tuesday on
concerns over the timing of Britain's planned exit from the European
Union. Britain's currency also struck a fresh three-year low point
against the euro.
Fundamental News

Sterling hits 31-year low, dollar strengthens broadly.

Strong US data dents Asia FX; Singapore dollar at over 2wk low ahead of MAS.
Industrial producer prices down by 0.2% in both euro area
and EU28.
UK Construction sector returns to growth in September.

Currency Future
Currency
Date

Date

% Chg

03-10-16

04-10-16

USDINR

66.8175

66.6925

-0.19%

EURINR

75.1500

74.5950

-0.74%

GBPINR

86.1175

85.1625

-1.11%

JPYINR

65.9475

65.1300

-1.24%

Event Calendar (05th October 2016)

Time
Currency Event

Forecast

Previou
s

1:30 pm

EUR

Final Services PMI

52.1

52.1

2:00 pm

GBP

Services PMI

52.1

52.9

5:45 pm

USD

ADP Non-Farm
Employment Change

166K

177K

6:00 pm

USD

Trade Balance

-41.1B

-39.5B

7:30pm

USD

ISM Non-Manufacturing
PMI

53.1

51.4

7:30pm

USD

Factory Orders m/m

-0.4%

1.9%

Reference Rate
Currency Date
03-10-16
USDINR
66.5330
EURINR
74.7166
GBPINR
85.8675
JPYINR
65.7000

Date
04-10-16
66.5559
74.4428
85.3180
65.0800

%
Change
+0.03%
-0.36%
-0.63%
-0.94%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.5412

Prev
Close

%
Chg

66.5813

Dollar Index

96.1500

95.6500

Euro

1.1162

1.1198

0.06%
+0.52
%
0.32%

Global Commodities
Commodit Close
y
Gold
1308
Silver
18.74
Crude
48.55
Copper
2.1658

Prev.Clos
e
1310.34
18.80
47.85
2.1743

% Chg
-0.17%
-0.31%
+1.46%
-0.39%

OUR PREVIOUS CALLS UPDATE

Intraday super star
Date Currenc Entry
y
04/10 GBPINR 85.910
0
Trifid special
Date Currenc Entry
y
03/1 GBPINR 86.735
0
0

Exit

P/L

85.670
0

4800

Exit

P/L

86.435
0

12000

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Overview
USDINR

EURINR

USDINR hovered on lower note since the beginning and

the rate cut by RBI resulted in Rupee appreciation.

EURINR after a slight correction in the last session again

dragged surpassing the major support levels.

On daily charts, it closed around the support of 66.6800

and if it holds below this level then further sell offs could
be seen whereas 67.0000 is still seen as important
resistance.

It has been observed that constant resistance has been

taken around 100 day EMA by the counter and now
74.4800 is seen as good support.

R1
66.9000

R1

R2

S1

S2

74.8000

75.0000

74.4000

74.2000

R2
67.0000

S1
66.6000

S2
66.5000

GBPINR

JPYINR

GBPINR has been dragging since last three successive

sessions and closed below the key support mark 86.1000.

JPYINR surpassed the important support level as seen

on daily charts and closed on a weak note.

Pound slumped to 31 year low against the greenback and

its weakness resulted in such sharp falls. If bears extends
then next crucial support is seen near 84.7000.

Now, it may find immediate support in the range of

65.0000-64.9000 while 65.7200 is seen as major
resistance on higher side from current levels.

R1
85.4000

R1
65.4000

R2
85.6000

S1
85.1000

S2
84.9000

R2
65.6000

S1
65.1000

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S2
64.9000

Intraday Super Star

(Premium Section)

JPYINR closed below the up sloping trend line acting as major support for the pair. It is expected that bears may
continue in the coming session as well.
SELL BELOW 65.1175 TARGETS 64.9975/64.8775 SL 65.3175.

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Trifid Special
(Premium Section)

GBPINR on daily charts is running below the major support levels and the bear attack is expected to continue in the
coming few sessions.
SELL BELOW 85.0925 TARGET 84.7925 SL 85.5925.

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