Daily Market Reflection

11th May 2016

USDINR

Market Outlook
Rupee fell 10 paise to 66.68 against the US dollar in early trade on
Tuesday, following a rally in the greenback overnight amid speculation
over a Fed rate hike.
Yen underperformed in overnight trade as Japans benchmark Nikkei 225
stock index advanced. The risk-on mood bolstered the sentimentsensitive Australian Dollar, which tracked upward alongside share prices.
The Philippine peso is set for its biggest gain in six weeks on Tuesday, as
results of the country's presidential election roll in and investors start
unwinding bearish bets on the currency.
Fundamental News

Yen dips near 2-week lows after Japan's verbal warnings.

Philippine peso to see best day in 6 weeks after election; Asia
FX down.
South Korea won slips to near 2-mth low on global economic
gloom, stocks up.
German exports in March 2016: 0.5% on March 2015.

Date

Date

9-05-16

10-05-16

USDINR

66.7925

66.8825

+0.13%

EURINR

76.0650

76.0475

-0.02%

GBPINR

96.4975

96.5275

+0.03%

JPYINR

61.7300

61.3325

-0.64%

% Chg

10:30am

Currency

Event

JPY

Leading Indicators

GBP

2:00pm

GBP

Manufacturing Production
m/m
Industrial Production m/m

7:30pm

GBP

NIESR GDP Estimate

10:31pm

USD

10-y Bond Auction

USD

Federal Budget Balance

2:00pm

11:30pm

Forecast

Date
Date
09-05-16 10-05-16
66.4379
66.7224
75.8056
75.9568
95.7702
96.1069
61.7300
61.3500

USDINR
EURINR
GBPINR
JPYINR

%
Change
+0.42%
+0.19%
+0.35%
-0.61%

Currencies vs $
Currency

Close
(5:00pm)
66.6050
94.2500
1.1384
1.4448
109.16

Prev
Close
66.5825
94.1280
1.1371
1.4404
108.73

% Chg
+0.03%
+0.12%
+0.11%
+0.30%
+0.39%

Global Commodities

Event Calendar (10th May 2016)

Time

Currency

Rupee
Dollar Index
Euro
Pound
Japnese Yen

Currency Future
Currency

Reference Rate

Previous

96.4%

96.8%

0.4%

-1.1%

0.7%

-0.3%

0.3%

1.77|2.8

116.2B

-108.0B

Commodity
Gold
Silver
Crude
Copper

Close
1265.70
17.05
43.74
2.0925

Prev.Close
1264.67
16.96
43.42
2.1018

% Chg
+0.08%
+0.53%
+0.73%
-0.44%

Our Previous calls update

Intraday super star
Date
Currency Entry
Exit
P/L
10/05 JPYINR
61.6500 61.4000 5000
Trifid special
Date
Currency Entry
Exit
10/05 GBPINR 96.5700 For our next calls click here..

www.trifidresearch.com | Email id: info@trifidresearch.com | Toll Free: 1800-270-1410

P/L
-

Overview
USDINR

EURINR

USDINR traded on higher note as Rupee depreciated against

the American currency in start of the trade and finally ended
the session on positive note.

EURINR moved in zigzag manner during the intraday session

but managed to close above the previous day closing.

On daily charts, 67.0000 is strictly acting as stiff resistance for

the pair where 100 day EMA is also seen while intraday
support is seen near 66.7000.
R1
67.0000

R2
67.2000

S1
66.7000

S2
66.5000

On intraday charts, it strongly took support of 76.0000 mark

and strength can be seen till it holds above this mark while
any closing below 75.9000 can be a weak signal for the
counter.
R1

R2

S1

S2

76.3000

76.5000

75.9000

75.7000

GBPINR

JPYINR

GBPINR climbed during the first half of the session and was
also able to close in green.

JPYINR dragged for the second consecutive session and closed

down losing around 0.64%.

On daily charts, if it is able to sustain above 96.7000 then it

may move towards the next resistance mark of 97.0000.
However, if it falls below 96.3000 then it can be a weak signal
for the pair.

If it continues to remain on lower side then 60.9000 is seen as

strong support while it needs a closing above 61.6000 then
some up move can be seen in it.

R1
97.0000

R1
61.6000

R2
97.2000

S1
96.4000

S2
96.2000

R2
61.8000

S1
61.2000

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S2
61.0000

Intraday Super Star

(Premium Section)

EURINR remained on lower side for the second consecutive session and is expected to surpass the immediate support and drag on
lower sides.
SELL BELOW 75.9400 TARGETS 75.8200/75.7000 SL 76.1400.

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Trifid Special
(Premium Section)

GBPINR closed higher as compared to its weak opening which recommends that buying on dips can be seen in the counter. Hence,
buying momentum can be seen in it in coming few sessions.
BUY ABOVE 96.5700 TARGET 97.0700 SL 95.9000.

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