Daily Market Reflection 10th May 2016 USDINR
Market Outlook Rupee appreciated against the greenback on Monday in the early trade despite of mixed trading in Asian currency markets. Payrolls data so released on Friday by US was less than expected and it reduced the hopes for Fed rate hike in June. Asian currencies such as won, rupiah and yuan declined, while ringgit advanced in morning trade. China came up with their weak trade data of April as its exports registered a modest increase in April after surging the most in a year in March, signaling that overseas demand continues for products from the world’s largest exporter. Fundamental News
Date
06-05-16
09-05-16
USDINR
66.8100
66.7925
-0.03
EURINR
76.3550
76.0650
-0.38
GBPINR
96.8925
96.4975
-0.41
JPYINR
62.4400
61.7300
-1.14
Currency Rupee Dollar Index Euro Pound Japnese Yen
% Chg
11:30am
Currency
Event
EUR
German Trade Balance
EUR
2:00pm
GBP
French Industrial Production m/m FOMC Member Dudley Speaks Goods Trade Balance
7:30pm
USD
JOLTS Job Openings
USD
Mortgage Delinquencies
12:15pm 12:45pm
10th-12th
USD
Forecast
% Change -0.21% -0.16% -0.59% -0.64%
Close (5:00pm) 66.4800 93.9480 1.1386 1.4462 108.06
Prev Close 66.5550 93.8880 1.1402 1.4430 107.32
% Chg -0.11% 0.06% -0.14% 0.22% 0.68%
Global Commodities
Event Calendar (10th May 2016) Time
Date Date 06-05-16 09-05-16 66.5830 66.4379 75.9313 75.8056 96.3456 95.7702 62.1300 61.7300 Currencies vs $
Currency Future Date
Currency USDINR EURINR GBPINR JPYINR
Yen hits 10-day low on intervention warning. Won leads Asia FX losses on expectations of Korean rate cut. Dollar firmer vs yen, Aussie unfazed by weak China trade data. UK Annual house price growth eases to 9.2%. Swiss Consumer prices increase by 0.3% in April 2016. Japan consumer confidence index April 40.8 vs 40.7 exp.
Currency
Reference Rate
Previous
20.4B
19.8B
0.6%
-1.0%
-
-
-11.2B
-12.0B
5.55M
5.45M
-
4.77%
Commodity Gold Silver Crude Copper
Close 1274.20 17.30 45.55 2.1068
Prev.Close 1289.01 17.38 45.40 2.1105
% Chg -1.14% -0.46% 0.33% -0.17%
Our Previous calls update Intraday super star Date Currency Entry 09/05 JPYINR Trifid special
Exit -
P/L -
Date Currency Entry Exit P/L 09/05 GBPINR 96.5000 96.0000 20000 For our next calls click here……..
www.trifidresearch.com | Email id: info@trifidresearch.com | Toll Free: 1800-270-1410
Overview USDINR
EURINR
USDINR traded on lower levels for most part of the session but gained momentum in the last trading hour to close on flat note.
EURINR opened the session on lower note and sustained at lower levels for the entire session closing it on weak note.
The pair has been strictly found in tight range since many sessions where 67.0000 is resisting it while 66.5000 has been acting as good support. R1 67.0000
R2 67.2000
S1 67.6000
S2 67.5000
On daily charts, 75.9000 has acted as strong support for the counter while lower lows suggests a short pull back if it sustains above 76.0000 mark. On lower side, 76.5000 is seen as major support from current levels. R1
R2
S1
S2
76.2000
76.4000
75.9000
75.7000
GBPINR
JPYINR
GBPINR opened on weak note but covered some losses during the session and recovery let it to close on less weakened note.
JPYINR lost its shine which it gained in past few sessions and closed weak losing more than 1%.
If it falls below 96.2000 during the coming session then weak sentiments can again drag it below 96.0000 mark while 96.6000-97.0000 is seen as resistance range.
On daily charts, it closed below the strong and crucial support of 61.8400 which is indicated as a weak sign for the pair as sustaining below this level can drag it towards near support of 61.3000 while immediate resistance is 62.0000.
R1 96.7000
R1 61.9000
R2 96.9000
S1 96.3000
S2 96.1000
R2 62.3000
S1 61.6000
www.trifidresearch.com | Email id: info@trifidresearch.com | Toll Free: 1800-270-1410
S2 61.4000
Intraday Super Star (Premium Section)
JPYINR closed below the strong support of 61.8400 on daily charts which is indicating as a weak sign for the counter and so more sell offs can be seen if it sustains below this key support. SELL BELOW 61.6500 TARGETS 61.5300/61.4000 SL 61.8500.
www.trifidresearch.com | Email id: info@trifidresearch.com | Toll Free: 1800-270-1410
Trifid Special (Premium Section)
GBPINR closed higher as compared to its weak opening which recommends that buying on dips can be seen in the counter. Hence, buying momentum can be seen in it in coming few sessions. BUY ABOVE 96.5700 TARGET 97.0700 SL 95.9000.
www.trifidresearch.com | Email id: info@trifidresearch.com | Toll Free: 1800-270-1410
DISCLAIMER Trifid Research respects and values the Right to Policy of each and every individual. We are esteemed by the relationship and by becoming our clients; you have a promise from our side that we shall remain loyal to all our clients and non-clients whose information resides with us. This Privacy Policy of Trifid Research applies to the current clients as well as former clients. Below are the word by word credentials of our Privacy Policy: 1. Your information, whether public or private, will not be sold, rented, exchanged, transferred or given to any company or individual for any reason without your consent. 2. The only use we will be bringing to your information will be for providing the services to you for which you have subscribed to us. 3. Your information given to us represents your identity with us. If any changes are brought in any of the fields of which you have provided us the information, you shall bring it to our notice by either calling us or dropping a mail to us. 4. In addition to the service provided to you, your information (mobile number, E-mail ID etc.) can be brought in use for sending you newsletters, surveys, contest information, or information about any new services of the company which will be for your benefit and while subscribing for our services, you agree that Trifid Research has the right to do so. 5. By subscribing to our services, you consent to our Privacy Policy and Terms of Use. 6. Trifid research does not guarantee or is responsible in any which way, for the trade execution of our recommendations, this is the sole responsibility of the client. 7. Due to the market’s volatile nature, the trader may/ may not get appropriate opportunity to execute the trades at the mentioned prices and Trifid Research hold’s no liability for any profit/ loss incurred whatsoever in this case. 8. It is the responsibility of the client to view the report timely from our Premium member section on our website: www.trifidresearch.com and the same will also be mailed to this registered email id. 9. Trifid research does not hold any liability or responsibility of delay in mail delivery of reports, as this depends on our mail service provider’s network infrastructure. 10. The clients can call us for any query related to buying/selling the securities, based on our recommendations.
www.trifidresearch.com | Email id: info@trifidresearch.com | Toll Free: 1800-270-1410