WWW.TRIFIDRESEARCH.

COM
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30 MAY 03 JUNE 2016

Buy on fear, sell on greed.

Buy on the rumor, sell on the news.

The trend is your friend.

Amateurs want to be right.

Professionals want to make money.

MARKET OUTLOOK

MARKET EVENTS
Rupee tested 2-1/2 month low
in last week; thereafter
recovered smartly.
French private sector output
growth quickens to sevenmonth high.
Eurozone flash PMI edges
down to 16-month low.
Japan National CPI: Worlds
Third Largest Economy Sinks
Deeper into Deflation.
CURRENCIES

USDINR

PREVIOUS

CURRENT

RATE

RATE

67.5625

67.3675

Indian Rupee depreciated against the

greenback in the initial part of week
where it hit 2-1/2 month low but
soon recovered from lower levels
and showed continuous three day
winning streak and finally closed in
positive zone as compared to
previous week. The renewed
strength of dollar in the midst of an
imminent Fed rate hike concerns is
keeping emerging market currencies
volatile, though rupee has shown
more resilience as compared to its
peers reflecting the fundamental
conditions. Further gains will depend
on foreign fund flows into equity
markets and dollar movements.

KEY RATES As on 27/05/2016

% CHANGE
REFERENCE RATE
(USD)

67.0613

REPO RATE

6.50%

-0.28%

EURINR

75.8300

75.3650

-0.61%

REVERSE REPO

6.00%

GBPINR

98.4500

98.7400

0.29%

CRR

4%

JPYINR

61.2400

61.4275

0.30%

INFLATION

0.34%

USDINR

USDINR last week continued the rally in the first half of the week and tested the two month highs
but dropped from such highs and finally settled the week in red. Now, if it holds below 67.2000
then 67.0000 will act as its key support while sustaining above the trend line i.e. above 67.5000
can act as strength for the counter.

EURINR

EURINR last week broke the trend line acting as support as seen on daily charts and closed the
week in red territory. It is near to the important support of 75.2500 holding below which can drag
it towards 74.8000 while 75.8000 is seen as immediate resistance for the week holding above
which can bring it in corrective zone.

PIVOT TABLE
CURRENCIES

S1

S2

S3

R1

R2

R3

USDINR

67.1000

66.8000

66.5000

67.8000

68.2000

68.6000

EURINR

75.0000

74.5000

74.1000

75.8000

76.3000

76.8000

GBPINR

98.1000

97.5000

97.0000

99.0000

99.6000

100.1000

JPYINR

61.1000

60.6000

60.0000

61.9000

62.5000

63.0000

INTERNATIONAL UPDATES
U.S. durable goods surge on transportation; business spending
weak.
ZEW Indicator of Economic Sentiment Slight Declined.
US Unemployment Insurance Weekly Claims was 268,000, a
decrease of 10,000 from the previous week.
DATE

TIME

COUNTRY

EVENT

BLOOMBERG
ESTIMATE

PREVIOUS
LEVEL

31-MAY-16

7:30
PM

US

CB Consumer
Confidence

94.2

01-JUNE-16

7:30
PM

US

ISM
Manufacturing
PMI

50.8

US

Unemployment
Claims

268k

US

Unemployment
Rate

5.0%

6:00
02-JUNE-16
PM
6:00
03-JUNE-16
AM

DISCLAIMER

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