Daily Market Reflection

22 ndJune 2016
Market Outlook

USDINR

Indian Rupee fell to two week low against the greenback on

Monday and further fell 7 paise to 67.38 in early trades on Tuesday
tracking mixed cues from global currency markets.
The British pound held near three-week highs against the dollar and
euro on Tuesday, a day after it had made its biggest daily gains
since late 2008 as opinion polls swung in favor of the campaign for
Britain to stay in the European Union. Two opinion polls on Monday
showed that the "Remain" camp has recovered some ground in
Britain's European Union referendum debate.
Fundamental News
Sterling hits 7-week high on expectations Britain will stay
in EU.
United Kingdom Public Sector Net Borrowing below
forecasts (9.35B) in May: Actual (9.141B).
Sri Lankan 1-wk rupee forwards down on importer dlr
demand; stocks up.
Greece Current Account (YoY) down to -0.822B in April
from previous -0.708B.
Currency Future
Currency
Date

Date

% Chg

20-06-16

21-06-16

USDINR

67.3975

67.5775

+0.27%

EURINR

76.4125

76.5250

+0.15%

GBPINR

98.6300

99.4750

+0.86%

JPYINR

64.4175

64.5375

+0.19%

Event Calendar (22nd June 2016)

Time
Currency
Event
FOMC Member Powell
Speaks
German 30-y Bond
Auction

Forecast

Previous

0.88|1.4

12:00am

USD

Tentative

EUR

6:30pm

USD

HPI m/m

0.6%

0.7%

7:30pm

EUR

Consumer Confidence

-7

-7

7:30pm

USD

Fed Chair Yellen Testifies

7:30pm

USD

Existing Home Sales

5.53M

5.45M

Reference Rate
Currency Date
20-06-16
USDINR
67.4087
EURINR
76.5358
GBPINR
98.1538
JPYINR
64.4400

Date
21-06-16
67.4767
76.4511
99.2582
64.5900

%
Change
+0.10%
-0.11%
+1.12%
+0.23%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
67.5375

Prev
Close

%
Chg

67.3187

Dollar Index

93.5000

93.6500

Euro

1.1327

1.1329

+0.32
%
0.16%
0.01%

Global Commodities
Commodit Close
Prev.Clos
y
e
Gold
1279.0 1285.87
6
Silver
17.36
17.45
Crude
49.39
49.76
Copper
2.0710 2.0713
Our Previous calls update

% Chg
-0.52%
-0.51%
-0.74%
-0.01%

Intraday super star

Date Currenc Entry
Exit
P/L
y
20/06 GBPINR 96.150 96.700 1100
0
0
0
Trifid special
Date Currenc Entry
Exit
P/L
y
21/0 JPYINR 64.560 64.850 1160
6
0
0
0

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Overview
USDINR

EURINR

USDINR opened higher against the previous close for the

second consecutive session.

EURINR was able to sustain higher than the previous

close and closed on a flat note with positive bias.

Resistance is expected to face in the range of 67.800068.0000 while 67.3500 is acting as strong support for the
counter below which selling pressure can be seen.

On higher side, strength can be seen if it holds above

76.7500 while on lower side weakness can prevail below
76.3500.

R1
67.7000

R1

R2

S1

S2

76.7000

76.9000

76.3000

76.1000

R2
67.9000

S1
67.4000

S2
67.2000

GBPINR

JPYINR

GBPINR opened strong and continuous rally was seen in

the counter throughout the session ahead of Brexit vote
and closed on a strong note.

JPYINR traded above the previous close but was unable

to extend the previous sessions gains.

It tried to test the psychological level of 100 and if it

sustains above it then further bulls can be seen.

It is strongly resisting near 64.9500 levels and falling

below 64.0500 can result in sell offs for the counter in
coming few sessions.

R1
99.7000

R1
64.8000

R2
100.0000

S1
99.2000

S2
98.9000

R2
65.0000

S1
64.4000

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S2
64.2000

Intraday Super Star

(Premium Section)

JPYINR is constantly facing resistance around highs since last few consecutive sessions and intends to move towards it.
Hence, buying on dips can be seen in the counter.
BUY IN RANGE OF 64.6800-64.7800 TARGETS 64.9000/65.0200 SL 64.4800.

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Trifid Special
(Premium Section)

GBPINR is constantly showing bull moves since last few successive sessions and still seems to continue this move in
coming sessions.
BUY IN RANGE OF 99.6000-99.6500 TARGET 99.9800 SL 99.0500.

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