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SMC Global Currency Daily Report

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This report updates the major global events that can affect currency markets in a day trading. It also contains major news related to global currency market and economies. …

This report updates the major global events that can affect currency markets in a day trading. It also contains major news related to global currency market and economies.
On technical part it contains major support and resistance levels along with expected trading direction for intraday purpose. Moreover, international currency pairs are also included in the report to take an idea and to gauge the direction of the market and its impact on local currency pairs.

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  • 1. 411983 lladollatop 26/08/2014 CURRENCY OUTLOOK FOR THE DAY Currency Rate* Trend Support Resistance Dollar Index 82.47 UP 82.17/81.95 82.76/82.99 EUR/USD 1.3203 DOWN 1.3175/1.3145 1.3247/1.3275 USD/JPY 103.80 UP 103.58/103.32 104.24/104.49 GBP/USD 1.6592 DOWN 1.6552/1.6520 1.6632/1.6665 USD/INR (Sep) 60.97 UP 60.75/60.50 61.20/61.40 EUR/INR (Sep) 80.49 UP 80.30/80.10 80.75/81.00 JPY/INR (Sep) 58.73 UP 58.50/58.30 59.00/59.20 GBP/INR (Sep) 101.11 UP 100.90/100.70 101.30/101.50 BOND FUTURES (INTEREST RATE FUTURES) OUTLOOK FOR THE DAY 883GS2023 Futures 100.70 SIDEWAYS 100.60/100.50 100.90/101.00 Note: The above levels are only for intraday trading. Today’s Major Economic Releases Time (IST) Currency Event Forecast Previous Adverse/Favourable/Neutral - - - - - - - - - - - - - - - - -
  • 2. Major Market Update The pace of new-home sales fell to the slowest in four months in July, signaling U.S. real estate lacks the vigor to propel faster growth in the economy. India’s stocks are a better bet than bonds as the fastest inflation in Asia erodes fixed-income returns and deters interest-rate cuts, Citigroup Inc. says The yen rose, set for the first gain in seven trading sessions, as technical indicators signaled the currency’s recent decline was too rapid. The euro touched an 11- month low against the dollar. Russian President Vladimir Putin is set to meet his Ukrainian counterpart, Petro Poroshenko, as tensions flare on the two nations’ border. ECB chief Mario Draghi said that the central bank was prepared to respond with all its "available" tools should inflation drop further. Most emerging Asian currencies eased on Monday after Yellen called for a "pragmatic" approach to US monetary policy on Friday at a speech. The euro skidded to $1.3184 after the IFO survey was released, its lowest since September 2013 China's yuan firms slightly after last week's fall. After two consecutive weekly falls, Reserve Bank of India's foreign exchange reserves have risen by a modest $43 million in the week to August 15. *For commodities and Currency queries during market hrs (9:00 AM- 11:30 PM) Contact: 011-25754373.; Ext: 436; 437. Direct Line- 9650507651 Disclaimer: - This report is for personal information of the authorized recipient and doesn’t construe to be any investment, legal or taxation advice to you. It is only for private circulation and use. The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such. No action is solicited on the basis of the contents of the report. The report should not be reproduced or redistributed to any other person(s) in any form without prior written permission of SMC. The contents of this material are general and are neither comprehensive nor inclusive. Neither SMC nor any of its affiliates, associates, representatives, directors or employees assume any responsibility for any loss or damage that may arise to any person due to any trading/action taken on the basis of this report. It does not constitute personal recommendations or take into account the particular investment objectives, financial situations or needs of an individual client or a corporate/s or any entity/s. All investments involve risk and past performance doesn’t guarantee future results. The value of, and income from investments may vary because of the changes in the macro and micro factors given at a certain period of time. The person should use his/her own investigations and judgment while taking any positions or investment decisions. Please note that we and our affiliates, officers, directors, and employees, including persons involved in the preparation or issuance if this material;(a) from time to time, may have long or short positions in, and buy or sell the currencies thereof, mentioned here in or (b) be engaged in any other transaction involving such currencies and earn brokerage or other compensation (c) may have any other potential conflict of interest with respect to any recommendation and related information and opinions. All disputes shall be subject to the exclusive jurisdiction of courts at Delhi.

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