fundamental of currency market
TRANSCRIPT
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8/16/2019 Fundamental of Currency Market
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Daily Market Reflection26 th May 2
Event Calendar (26
th
May 2016)
Currency Date Date %Chan24-05-16 25-05-16
USDINR 67.7060 67.4467 -0.38%
EURINR 75.9323 75.2098 -0.95%
GBPINR 98.0654 98.5599 +0.50
JPYINR 61.9700 61.3200 -1.04%
Reference Rate
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.
Better than expected home sales data raised the dollar to hit two month
high against the basket of currencies.
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
demand; stocks up.
Strong equities support Asia FX; yuan, Fed rate view check
gains.
ime 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 GBPPrelim BusinessInvestment q/q
3.2% -2.0%
6:00pm USDCore Durable Goods
Orders m/m0.3% -0.2%
6:00pm USD Unemployment Claims 275K 278K
6:00pm USDDurable Goods Orders
m/m0.3% 0.8%
Currency Close(5:00pm)
PrevClose
%
Rupee 67.4025 67.7550 -0.
Dollar Index 95.6000 95.5900 +0
Euro 1.1142 1.1155 -0.
Pound 1.4658 1.4610 +0
Japanese Yen 110.20 109.88 +0
Currencies vs
Currency Date Date % Chg
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%
Commodity Close Prev.Close %
Gold 1220.89 1228.51 -0.
Silver 16.19 16.27 -0.
Crude 49.21 49.27 -0.
Copper 2.0705 2.0765 -0.
Global Commodities
USDINR
Our Previous calls update
Intraday super star
Date Currency Entry Exit P/
25/05 USDINR - - -
Trifid special
Date Currency Entry Exit P/
10/05 GBPINR 96.5700 97.0700 20
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Overview
SDINR EURINR
1 R2 S1 S2
7.7000 67.9000 67.3000 67.1000
SDINR opened on lower note and continued to drag
roughout the session and closed in red territory after a
ntinuous winning streak.
n daily charts, if it continues to fall then below 67.3000, it
ay fall towards 67.1000 while 67.6000 is seen as resistance.
R1 R2 S1 S2
75.4000 75.6000 75.0000 74.8000
EURINR dragged for the entire session after reversa
seen on daily charts in the previous session
The pair closed below the trend line acting as strong sup
and hence weakness may prevail in the counter tow
74.9000 while immediate resistance is seen near 75.5000
BPINR
1 R2 S1 S2
8.9000 99.1000 98.5000 98.3000
BPINR traded in sideways manner for most part of the
ssion but showed strength in the last hour and closed
rong.
he pair is taking strict resistance around 99.0000 and any
osing above it may further take it higher.
JPYINR
R1 R2 S1 S2
61.4000 61.6000 61.1000 60.9000
JPYINR was not able to sustain on higher side and
sharply in the intraday session and closed near to the de
support levels.
On daily charts, 61.0000 is seen as important support
while 61.5000 may act as immediate resistnace.
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