Daily Market Reflection

09 th August 2016
Market Outlook

USDINR

The Rupee weakened 6 paise to 66.83 against the US dollar in

early trade at the Interbank Foreign Exchange today following fresh
demand for the American currency from banks and importers.
However, a higher opening of the domestic equity market capped
the rupee's losses.
Sterling traded near its weakest in three weeks against the dollar on
Monday, hurt by widening rate differentials between the US and the
UK after robust jobs numbers strengthened speculation of a rate
hike by the Federal Reserve. In contrast, the BoE kick started its
quantitative easing program on Monday.
Fundamental News

Sterling stuck near 3-wk lows, bets against pound hit record
high.
Dollar adds to gains vs yen after stellar U.S. jobs data.
China's July forex reserves fall to $3.20 trillion.
Swiss Consumer Price Index in July 2016 fall by 0.4%.

Currency Future
Currency
Date

Date

% Chg

04-08-16

05-08-16

USDINR

67.0000

67.0525

+0.08%

EURINR

74.7950

74.3600

-0.58%

GBPINR

88.2400

87.6050

-0.72%

JPYINR

66.2750

65.5100

-1.15%

Event Calendar (9th August 2016)

Time
Currency Event

Forecast

Previou
s

5:20am

JPY

M2 Money Stock y/y

3.3%

3.4%

11:30am

EUR

German Trade Balance

23.2B

22.2B

2:00pm

GBP

Manufacturing
Production m/m

0.0%

-0.5%

2:00pm

GBP

Goods Trade Balance

-9.6B

-9.9B

0.5%

-0.6%

1.8%

4.5%

6:00pm

USD

6:00pm

USD

Prelim Nonfarm
Productivity q/q
Prelim Unit Labor Costs
q/q

Reference Rate
Currency Date
05-08-16
USDINR
66.8141
EURINR
74.4510
GBPINR
87.7470
JPYINR
66.1300

Date
08-08-16
66.7407
74.0622
87.2768
65.4000

%
Change
-0.10%
-0.52%
-0.53%
-1.10%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.8112

Prev
Close

%
Chg

66.7762

Dollar Index

96.2500

96.1900

Euro

1.1089

1.1102

+0.05
%
+0.06
%
0.11%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1331.7 1336.93
-0.39%
1
Silver
19.70
19.68
+0.10%
Crude
42.44
41.87
+1.36%
Copper
2.1638 2.1628
+0.04%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
08/08 USDINR 67.000
0
Trifid special
Date Currenc Entry
y
08/0 GBPINR 88.200
8
0

Exit

P/L

67.060
0

1200

Exit

P/L

87.900
0

12000

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Overview
USDINR

EURINR

USDINR did not have much impact of US Jobs data so

released on Friday and closed on a flat note.

EURINR fell for the third consecutive session and closed

around the support of 74.2000 on daily chart.

It was able to sustain above 67.0000 mark which helped

to show a short pull back in the end and now 100 day
EMA of 67.2300 may act as resistance.

On lower side, if it breaches the mark of 74.0000 then

73.7000 is seen as next support while 74.7000 may act
as immediate resistance.

R1
67.2000

R1

R2

S1

S2

74.5000

74.7000

74.2000

74.0000

R2
67.4000

S1
66.8000

S2
66.6000

GBPINR

JPYINR

GBPINR broke the important support of 87.8000 and

closed below it.

JPYINR showed sharp downfall in the last session and

closed in red terrain.

If it continue the bear trend then 86.6500 is seen as next

support while 87.8000-88.0000 may act as resistance
range for the currency pair.

Now, 65.2500 is seen as immediate support as seen on

daily chart while 66.0000 will now act as stiff resistance
for the counter.

R1
87.8000

R1
65.7000

R2
88.0000

S1
87.5000

S2
87.3000

R2
65.9000

S1
65.3000

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S2
65.1000

Intraday Super Star

(Premium Section)

EURINR sustained on lower sides and closed weak on daily chart and bears are further expected to drag the counter
towards deeper support.
SELL BELOW 74.3000 TARGETS 74.1800/74.0600 SL 74.5000.

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

Trifid Special
(Premium Section)

GBPINR closed below the key support level on daily charts. Weak trend of the counter is expected to continue till it
sustains below this level.
SELL BELOW 87.5000 TARGET 87.2000 SL 88.0000.

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

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