fundamental of currency market

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

For our next calls click here……..


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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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