Daily Market Reflection 19th May 2016 USDINR
Market Outlook Indian currency fell for the fifth successive session and it hit fresh 2month low in early trades against the greenback after the data so released in US overnight raised hopes of early rate hike by US Fed. The Consumer Prices Index (CPI) of UK 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 from close to zero. The drop in April
Reference Rate
2016 is the first fall since September 2015. Currency
Date Date 17-05-16 18-05-16 66.7233 66.9131 75.4907 75.4847 96.5953 96.6091 61.0700 61.2500
Fundamental News
Sterling hits 2-1/2-week high as "In" camp leads in Brexit
poll. Dollar hits three-week high on revived Fed rate hike
USDINR EURINR GBPINR JPYINR
expectations.
Currencies vs $
Yen gains after upbeat Japan GDP pares stimulus bets. UK Unemployment Rate meets forecasts (5.1%) in March.
Currency Rupee Dollar Index Euro Pound Japanese Yen
Currency Future Currency
Date
Date
17-05-16
18-05-16
USDINR
67.0150
67.1000
+0.16%
EURINR
75.8625
75.7500
-0.16%
GBPINR
96.9900
97.4025
+0.43%
JPYINR
61.2125
61.3825
+0.30%
% Chg
Currency
Event
Forecast
Previous
12:30pm
GBP
MPC Member Haldane Speaks
-
-
2:00pm
GBP
Retail Sales m/m
0.6%
-1.3%
-
-
3.2
-1.6
ECB Monetary Policy Meeting Accounts Philly Fed Manufacturing Index
Close (5:00pm) 66.9625 94.8800 1.1268 1.4413 109.43
Prev Close 66.8750 94.5800 1.1287 1.4433 109.23
% Chg +0.13% +0.31% -0.16% -0.13% +0.18%
Global Commodities
Event Calendar (19th May 2016) Time
% Change +0.28% -0.01% +0.01% +0.29%
5:00pm
EUR
6:00pm
USD
6:00pm
USD
Unemployment Claims
276K
294K
7:30pm
USD
CB Leading Index m/m
0.4%
0.2%
Commodity Gold Silver Crude Copper
Close 1271.15 16.99 48.92 2.0521
Prev.Close 1274.84 17.11 49.11 2.0632
% Chg -0.28% -0.70% -0.38% -0.53%
Our Previous calls update Intraday super star Date Currency Entry 18/05 JPYINR Trifid special
Exit -
P/L -
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 continued the positive sentiments so gained in the previous session and sustained above the 100 day EMA as
EURINR saw a session with turmoil as it dragged in the first
seen on daily charts.
half of the session while recovered in the later half.
Closing indicates strength in the pair till it sustains above
On daily charts, it strongly found support and near the trend line and lower lows so seen suggests that pull back may be
67.000 mark while 66.8000 is seen as immediate support from
seen in the counter if it sustains above 75.8000.
current levels. R1 R2 67.2000 67.3000
R1
R2
S1
S2
75.9000
76.1000
75.5000
75.3000
S1 67.0000
S2 66.9000
GBPINR
JPYINR
GBPINR traded sideways in the first half of session but rose
JPYINR opened on higher note and sustained there for the
strongly over leads in Brexit poll and finally closed higher.
entire session.
Sustaining above 97.0000 mark can lead it towards the trend
If it is able to sustain above 61.5000 then it may lead towards
line as shown in daily charts i.e. around 97.9000 while
the resistance of 61.7000 while 61.0000 is still acting as
97.1000 may act as immediate support for it.
strong support from current levels.
R1 97.6000
R2 97.8000
S1 97.2000
S2 97.0000
R1 61.5000
R2 61.7000
S1 61.2000
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S2 61.0000
Intraday Super Star (Premium Section)
Currency violated the trend line acting as support which was coming from deeper supports and closed higher. Any positive trigger can result in up trend for the counter. **** TARGETS *****/***** SL *****. For complete call, subscribe our premium report.
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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 report.
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