Daily Market Reflection

28thJune 2016
Market Outlook

USDINR

The rupee shook off some of its earlier weakness and recovered 12
paise to 67.84 against the dollar today on increased selling of the
US currency by banks and exporters. Most emerging Asian
currencies extended losses on Monday on speculation that regional
central banks may end up cutting interest rates to offset potential
damage to exports arising from Britain's decision to leave the
European Union.
Regional currencies, however, pared some of their earlier losses as
caution grew over possible intervention by monetary authorities to
support them.
Fundamental News

Sterling and euro struggle as Brexit shock lingers.

Asia FX weakens in Brexit wake; rate cuts expected if
exports suffer.
South Korean won pares loss, stocks change course as
Brexit impact eases.
China's yuan weakens to 5-1/2 year low as PBoC
tolerates depreciation.

Currency Future
Currency
Date

Date

% Chg

22-06-16

23-06-16

USDINR

67.5200

67.2825

-0.35%

EURINR

76.3000

76.6275

+0.43%

GBPINR

99.1500

100.1100

+0.97%

JPYINR

64.5225

63.6300

-1.38%

Event Calendar (28th June 2016)

Time
Currency
Event
German Import Prices
m/m
ECB President Draghi
Speaks

Forecast

Previous

0.6%

-0.1%

11:30pm

EUR

1:30pm

EUR

3:30pm

GBP

CBI Realized Sales

Day 1

EUR

EU Economic Summit

6:00pm

USD

Final GDP q/q

1.0%

0.8%

7:30pm

USD

CB Consumer
Confidence

93.2

92.6

Reference Rate
Currency Date
Date
23-06-16 24-06-16
USDINR
68.0144 67.9000
EURINR
75.1015 74.8801
GBPINR
92.9553
90.9113
JPYINR
66.4500 66.6900

%
Change
-0.16%
-0.29%
-2.19%
+0.36%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
67.9662

Prev
Close

% Chg

67.9688

Dollar Index

96.3600

95.9100

Euro

1.1006

1.1033

0.00%
+0.46
%
0.24%

Global Commodities
Commodit Close
Prev.Clos
y
e
Gold
1329.5 1323.94
0
Silver
17.74
17.63
Crude
47.24
47.39
Copper
2.1113
2.1018
Our Previous calls update
Intraday super star
Date Currenc Entry
y
21/06 JPYINR 64.680
0
Trifid special
Date Currenc Entry
y
21/0 JPYINR 64.560
6
0

% Chg
+0.41%
+0.62%
-0.31%
+0.45%

Exit

P/L

64.480
0

-3600

Exit

P/L

64.850
0

1160
0

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Overview
USDINR

EURINR

USDINR opened higher than previous close but gradually

dragged down during the session and finally closed on a
flat note but with negative bias.

EURINR opened gap down and and closed lower for the
last two consecutive sessions and finally closed in red
losing approx 0.54%.

If it is able to sustain above 68.0000 then it can further

lead higher otherwise 67.7000-67.4000 is seen as support
range.

Now, 74.3500 is seen as key support whereas 75.4000

may act as strong resistance from current levels.

R1
68.1000

R1

R2

S1

S2

75.1000

75.3000

74.7000

74.5000

R2
68.3000

S1
67.8000

S2
67.6000

GBPINR

JPYINR

GBPINR broke all its important support zones in last two

sessions and surpassed 52 week lows and intraday loss
was 3.58%.

JPYINR was able to sustain higher after it breached the

important resistance levels on daily charts.

On daily charts, next immediate support is seen near

89.3000 support while proper strength can be seen above
91.6000.
R1
90.2000

R2
90.4000

S1
89.7000

S2
89.4000

Now, if it is able to hold above 67.5000 then it may inch

towards the psychological level of 68.000 while 66.300066.0000 may act as near support range.

R1
67.0000

R2
67.2000

S1
66.6000

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S2
66.4000

Intraday Super Star

(Premium Section)

JPYINR was able to sustain above after the huge breakout of the counter and so it may again maintain the bulls above
the mentioned level.
BUY ABOVE 67.0000 TARGETS 67.1200/67.2400 SL 66.8000.

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Trifid Special
(Premium Section)

USDINR subdued in the last session after breaking the important range of resistance in the previous session and so sell
offs can be seen in the coming sessions.
SELL BELOW 67.7900 TARGET 67.4900 SL 68.2900.

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