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. **** TARGETS ****/**** SL *****. For complete call subscribe our premium reports.
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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. **** TARGET ***** SL *****. For complete call subscribe our premium reports.
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