Daily Market Reflection

18th October 2016

Market Outlook

USDINR

The Rupee turned weak by 12 paise to 66.83 against the dollar

today at the foreign exchange market after the American currency
gained ground following a spurt in demand from importers. Strength
in the dollar against some other currencies overseas on the
prospects of higher US rates also weighed on the rupee, but a
higher opening in the domestic equity market meant the losses
were limited.
China's yuan weakened on Monday as the dollar strengthened
again, but traders were hesitant to buy greenbacks amid concern
the central bank may step in try to halt the Chinese currency's slide.
Fundamental News
China's yuan touches fresh six-year low, but trades in thin
range.
Firm dollar undermines Asia FX, bonds; yuan at fresh 6year low.
Dollar hits 7-month high after upbeat U.S. data, rise in
yields.
Sterling mired near lows, hurt by gilts sell off and politics.
Currency Future
Currency
Date
Date
% Chg

14-10-16

17-10-16

USDINR

66.8150

66.9775

+0.24%

EURINR

73.6575

73.6950

+0.05%

GBPINR

81.8425

81.4625

-0.46%

JPYINR

64.0725

64.3175

+0.38%

Event Calendar (18th October 2016)

Time
Currency Event

Forecast

Previou
s

2:00 pm

GBP

CPI y/y

0.9%

0.6%

2:00 pm

GBP

PPI Input m/m

0.4%

0.2%

2:00 pm

GBP

RPI y/y

2.0%

1.8%

6:00 pm

USD

CPI m/m

0.3%

0.2%

6:45 pm

USD

Core CPI m/m

0.2%

0.3%

7:30 pm

USD

NAHB Housing Market

Index

64

65

Reference Rate
Currency Date
Date
14-10-16 17-10-16
USDINR
66.8481 66.7779
EURINR
73.6867 73.3689
GBPINR
81.4811 81.3088
JPYINR
64.2300 64.1200

%
Change
-0.10%
-0.43%
-0.21%
-0.17%

Currencies vs $
Currency
Close
(5:00p
m)
Rupee
66.8362

Prev
Close

%
Chg

66.7150

Dollar Index

98.0000

98.0800

Euro

1.0988

1.0972

+0.18
%
0.08%
+0.14
%

Global Commodities
Commodit Close
Prev.Clos % Chg
y
e
Gold
1252.5 1251.18
+0.10%
0
Silver
17.36
17.43
-0.40%`
Crude
50.21
50.30
-0.17%
Copper
2.0985 2.0973
+0.05%
OUR PREVIOUS CALLS UPDATE
Intraday super star
Date Currenc Entry
y
17/10 EURINR 73.635
0
Trifid special
Date Currenc Entry
y
17/1 GBPINR 81.650
0
0

Exit

P/L

73.515
0

2400

Exit

P/L

81.350
0

12000

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

Overview
USDINR

EURINR

USDINR found support at lower levels during the session

and closed higher against the previous close.

EURINR traded on lower levels for most part of the

session but recovery in the later half made it to close on
a flat note.

On daily chart, the pair is again near to the key resistance

of 67.1000 and it needs a closing above it to continue the
up move while 66.8000 may act as immediate support.

R1
67.0000

R2
67.1000

S1
66.8000

S2
66.7000

Weakness can be seen in the pair till it holds below

73.7000 while 73.4000-73.0000 can act as crucial
support range. On higher side, 74.0000 is seen as key
R1

R2

S1

S2

73.7000

73.9000

73.5000

73.3000

GBPINR

JPYINR

GBPINR is continuing to trade in the weak zone and even

surpassed the recent lows on daily chart.

JPYINR sustained higher against the previous close and

closed in green territory.

Key support seen ahead in the pair is 81.0000 mark while

81.9000-82.1000 may resist the counter to move
northwards. Sell on rise can continue in this pair.

It sustained below the neckline of double top pattern and

still weak trend may continue till it sustains below
64.4000 and 64.0000 may act as immediate support.

R1
81.6000

R1
64.4000

R2
81.8000

S1
81.3000

S2
81.1000

R2
64.6000

S1
64.1000

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

S2
63.9000

Intraday Super Star

(Premium Section)

EURINR sustained below the key support level as shown in the daily chart above. Hence, sell offs could be seen in the
pair on highs as strong resistance is expected to face by the counter.
SELL BELOW 73.5850 TARGETS 73.4650/73.3450 SL 73.7850.

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

Trifid Special
(Premium Section)

GBPINR dropped down further breaching the immediate support levels and may extend the bears and fall down towards
deeper support levels in the coming few sessions.
SELL BELOW 81.3500 TARGET 81.0000 SL 81.8500.

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

Trifid Research respects and values the Right to Policy of each and every individual. We are
esteemed by the relationship and by becoming our clients; you have a promise from our side
that we shall remain loyal to all our clients and non-clients whose information resides with us.
This Privacy Policy of Trifid Research applies to the current clients as well as former clients.
Below are the word by word credentials of our Privacy Policy:
1. Your information, whether public or private, will not be sold, rented, exchanged,
transferred or given to any company or individual for any reason without your consent.
2. The only use we will be bringing to your information will be for providing the services to
you for which you have subscribed to us.
3. Your information given to us represents your identity with us. If any changes are brought
in any of the fields of which you have provided us the information, you shall bring it to
our notice by either calling us or dropping a mail to us.
4. In addition to the service provided to you, your information (mobile number, E-mail ID
etc.) can be brought in use for sending you newsletters, surveys, contest information, or
information about any new services of the company which will be for your benefit and
while subscribing for our services, you agree that Trifid Research has the right to do so.
5. By subscribing to our services, you consent to our Privacy Policy and Terms of Use.
6. Trifid research does not guarantee or is responsible in any which way, for the trade
execution of our recommendations, this is the sole responsibility of the client.
7. Due to the markets volatile nature, the trader may/ may not get appropriate opportunity
to execute the trades at the mentioned prices and Trifid Research holds no liability for
any profit/ loss incurred whatsoever in this case.
8. It is the responsibility of the client to view the report timely from our Premium member
section on our website: www.trifidresearch.com and the same will also be mailed to this
registered email id.
9. Trifid research does not hold any liability or responsibility of delay in mail delivery of
reports, as this depends on our mail service providers network infrastructure.
10. The clients can call us for any query related to buying/selling the securities, based on
our recommendations.

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