Daily Market Reflection 08thJune 2016 Market Outlook
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Indian Rupee appreciated in the early trades on Tuesday and sustained
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higher after the RBI kept the benchmark Repo rate unchanged @ 6.5%
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and other key rates like CRR, SLR are also kept unchanged. However, it warned that inflation risks were on upside even it retained inflation
USDINR
targets set out in Aril policy. The dollar edged up but still wallowed close to four-week lows against a basket of currencies, after Federal Reserve Chair Janet Yellen's remarks failed to toss a lifebuoy to the recently foundering greenback.
Reference Rate Currency
Fundamental News RBI Credit Policy: RBI keeps key rates unchanged, says inflation risks have gone up. Yellen caution pushes Asia FX higher but sliding yuan limits gains. Australian dollar jumps 1 pct after shift in tone from RBA. UK Annual house price growth unchanged at 9.2%.
Currency Rupee Dollar Index Euro Pound Japanese Yen
Date
Date
06-06-16
07-06-16
USDINR
67.2450
66.9800
-0.39%
EURINR
76.3075
76.0950
-0.28%
GBPINR
96.9625
97.7150
+0.78%
JPYINR
62.7275
62.1375
-0.94%
% Chg
Currency
Event
Forecast
Close (5:00pm) 66.7762 93.9500 1.1345 1.4575 107.73
Prev Close 66.9775 94.0200 1.1356 1.4477 107.82
% Chg
Prev.Close 1243.03 16.4100 49.51 2.1018
% Chg -0.42% -0.85% +1.41% -1.90%
-0.30% -0.07% -0.09% +0.67% -0.08%
Global Commodities
Event Calendar (08th June 2016) Time
% Change -0.19% -0.02% +0.79% -0.79%
Currencies vs $
Currency Future Currency
USDINR EURINR GBPINR JPYINR
Date Date 06-06-16 07-06-16 66.9614 66.8305 75.9409 75.9194 96.1700 96.9376 62.6000 62.1000
Previous
Commodity Gold Silver Crude Copper
Close 1237.70 16.2700 50.21 2.0618
5:20am
JPY
Current Account
2.04T
1.89T
5:20am
JPY
Final GDP q/q
0.5%
0.4%
Intraday super star
5:20am
JPY
Final GDP Price Index y/y
0.9%
0.9%
2:00pm
GBP
Manufacturing Production m/m
0.1%
0.1%
Date Currency Entry 07/06 JPYINR Trifid special
2:00pm
GBP
Industrial Production m/m
0.0%
0.3%
7:30pm
USD
JOLTS Job Openings
5.82M
5.76M
OUR PREVIOUS CALLS UPDATE
Exit -
P/L -
Date Currency Entry Exit P/L 01/06 USDINR 67.4500 67.2000 10000 For our next calls click here……..
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Overview USDINR
EURINR
USDINR opened gap down and sustained on lower side on
EURINR opened flat and traded n lower levels as per the
back of appreciation of Rupee after the RBI kept the key rates
closing of previous session.
unchanged.
Strength is expected if the pair holds above the immediate
It closed below 100 day EMA and may fall towards 66.8000 whereas 67.2000 is seen as stiff resistance.
resistance of 76.4000 on daily charts while any closing below 76.0000 can be a weak sign for it.
R1 67.2000
R1
R2
S1
S2
76.2000
76.4000
75.9000
75.7000
R2 67.4000
S1 66.8000
S2 66.6000
GBPINR
JPYINR
GBPINR showed spike in its trade early morning and
JPYINR opened gap down after the previous day’s hike and
maintained at higher levels for the entire session.
closed in red territory.
On daily charts, holding above 98.2000 can up lift the
Strength can be recognized in the counter till it sustains
counter while 100 day EMA of 97.3500 is seen as nearest and
above the level of 62.0000 while any closing around 61.8000
key support for it.
may indicate weakness.
R1 97.9000
R2 98.1000
S1 97.5000
S2 97.3000
R1 62.3000
R2 62.5000
S1 62.0000
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S2 61.8000
Intraday Super Star (Premium Section)
Currency ended on weak note and surpassed the important support mark on daily charts and may continue the bear trend for the coming session as well. **** TARGETS ****/**** SL ****. For complete call subscribe to our premium reports.
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Trifid Special (Premium Section)
Currency exactly reversed from the trend line which acted as resistance in past few weeks and closing above it with strength suggests that up move may continue further. **** TARGETS **** SL ****. For complete call subscribe to our premium reports.
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