23 FEBRUARY16
www.trifidresearch.com
News FLASH Pound slapped as European trading gets underway. Yuan gains on bets PBOC to support currency before G-20. European Monetary Union Markit PMI Composite came in at 52.7 below forecasts (53.3) in February. Sterling drops more than 1% on Brexit fears Yen holds weakness in Asia after PMI. EUR/USD bounces off lows and trims losses. NZ dollar gains vs. pound as Boris Johnson backs Brexit.
Economic calendar – Feb 23 TIME 12:30pm 2:00pm 3:30pm 8:30pm 8:30pm 10:30pm
CURRENCY
DESCRIPTION
FORECAST
PREVIOUS
German Final GDP q/q
0.3%
0.3%
EUR
German Ifo business climate
107.0
107.3
GBP
Inflation Report Hearings
-
-
USD
CB Consumer Confidence
97.4
98.1
USD
Existing Home Sales
5.37M
5.47M
GBP
MPC Member Haldane Speaks
-
-
EUR
Pivot table CURRENCIES
S1
S2
S3
R1
R2
R3
USDINR
68.5000
68.3500
68.2500
68.8000
69.0000
69.1000
EURINR
75.8000
75.6000
75.4000
76.2000
76.3500
76.5500
GBPINR
96.9000
96.6500
96.4500
97.3500
97.5500
97.8000
JPYINR
60.4000
60.2500
60.1000
60.6500
60.8000
61.0000
TECHNICAL VIEW
USDINR USDINR on its intraday charts had been trading around the resistance level of 68.6800, expected to give positive breakout above this resistance and may find next resistance around 68.9500.
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