Daily Market Reflection 26th May 2016 USDINR
Market Outlook Indian Rupee snapped its losing streak of nine days against the American currency in early trade on Wednesday and sustained on lower levels and finally settled in red territory. Most emerging Asian currencies rose on Wednesday, tracking stronger equities, while a weak Chinese yuan and expectations of an imminent U.S. interest rate hike kept investors from adding bullish bets on regional units.
Reference Rate
Better than expected home sales data raised the dollar to hit two month high against the basket of currencies.
Currency
Date Date 24-05-16 25-05-16 67.7060 67.4467 75.9323 75.2098 98.0654 98.5599 61.9700 61.3200
Fundamental News
Rupee snaps 9-day losing streak against the greenback.
Dollar at 2-month highs on rate view, Greek deal helps euro. Sri Lankan rupee forwards down on importer dollar
USDINR EURINR GBPINR JPYINR
demand; stocks up.
Currencies vs $
Strong equities support Asia FX; yuan, Fed rate view check
Currency
gains. Rupee Dollar Index Euro Pound Japanese Yen
Currency Future Currency
Date
Date
24-05-16
25-05-16
USDINR
67.7825
67.3925
+0.41%
EURINR
75.8325
75.1500
-0.90%
GBPINR
98.9575
98.9625
+0.01%
JPYINR
61.8450
61.1800
-1.08%
% Chg
Currency
Event
Forecast
Previous
5:20am
JPY
SPPI y/y
0.2%
0.2%
2:00pm
GBP
Second Estimate GDP q/q
0.4%
0.4%
2:00pm
GBP
3.2%
-2.0%
6:00pm
USD
0.3%
-0.2%
6:00pm
USD
Unemployment Claims
275K
278K
6:00pm
USD
Durable Goods Orders m/m
0.3%
0.8%
Prelim Business Investment q/q Core Durable Goods Orders m/m
Close (5:00pm) 67.4025 95.6000 1.1142 1.4658 110.20
Prev Close 67.7550 95.5900 1.1155 1.4610 109.88
% Chg -0.52% +0.01% -0.11% +0.32% +0.29%
Global Commodities
Event Calendar (26th May 2016) Time
% Change -0.38% -0.95% +0.50% -1.04%
Commodity Gold Silver Crude Copper
Close 1220.89 16.19 49.21 2.0705
Prev.Close 1228.51 16.27 49.27 2.0765
% Chg -0.62% -0.49% -0.12% -0.28%
Our Previous calls update Intraday super star Date Currency Entry 25/05 USDINR 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 opened on lower note and continued to drag
EURINR dragged for the entire session after reversals so
throughout the session and closed in red territory after a
seen on daily charts in the previous session
continuous winning streak. On daily charts, if it continues to fall then below 67.3000, it
The pair closed below the trend line acting as strong support and hence weakness may prevail in the counter towards
may fall towards 67.1000 while 67.6000 is seen as resistance.
74.9000 while immediate resistance is seen near 75.5000.
R1 67.7000
R1
R2
S1
S2
75.4000
75.6000
75.0000
74.8000
R2 67.9000
S1 67.3000
S2 67.1000
GBPINR
JPYINR
GBPINR traded in sideways manner for most part of the
JPYINR was not able to sustain on higher side and fell
session but showed strength in the last hour and closed
sharply in the intraday session and closed near to the deeper
strong.
support levels.
The pair is taking strict resistance around 99.0000 and any
On daily charts, 61.0000 is seen as important support level
closing above it may further take it higher.
while 61.5000 may act as immediate resistnace.
R1 98.9000
R2 99.1000
S1 98.5000
S2 98.3000
R1 61.4000
R2 61.6000
S1 61.1000
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S2 60.9000
Intraday Super Star (Premium Section)
Currency surpassed the trend line which was coming from deeper lows and closed below it which suggests sell offs may become aggressive if it sustains below the mentioned level. *****TARGETS ******/****** SL ******. For complete call, subscribe our premium report.
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Trifid Special (Premium Section)
Currency is taking constant support at lower levels and intends to move northwards from such bottom levels. If it is able to sustain above the trend line then it may show a short bull rally in coming sessions. ***** TARGET *******SL ******. For complete call, subscribe our premium report.
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