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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 28/08/2014 CURRENCY OUTLOOK FOR THE DAY Currency Rate* Trend Support Resistance Dollar Index 82.33 SIDEWAYS 81.95/81.70 82.54/82.76 EUR/USD 1.3213 SIDEWAYS 1.3175/1.3145 1.3247/1.3275 USD/JPY 103.75 UP 103.32/103.07 104.00/104.24 GBP/USD 1.6598 SIDEWAYS 1.6552/1.6520 1.6632/1.6665 USD/INR (Sep) 60.75 SIDEWAYS 60.50/60.30 61.00/61.20 EUR/INR (Sep) 80.29 SIDEWAYS 80.06/79.85 80.45/80.65 JPY/INR (Sep) 58.56 SIDEWAYS 58.40/58.20 58.75/59.00 GBP/INR (Sep) 100.78 SIDEWAYS 100.50/100.30 101.00/101.20 BOND FUTURES (INTEREST RATE FUTURES) OUTLOOK FOR THE DAY 883GS2023 Futures 100.75 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 13:25 EUR EUR German Unemployment Rate s.a. 6.70% 6.70% Neutral 13:25 EUR EUR German Unemployment Change -5K -12K Favourable 14:30 EUR EUR Euro-Zone Industrial Confidence -4.5 -3.8 Adverse 14:30 EUR EUR Euro-Zone Consumer Confidence -10 -10 Neutral 14:30 EUR EUR Euro-Zone Economic Confidence 101.5 102.2 Adverse 17:30 EUR EUR German Consumer Price Index (MoM) 0.00% 0.30% Adverse 17:30 EUR EUR German Consumer Price Index (YoY) 0.80% 0.80% Neutral 17:30 EUR EUR German Consumer Price Index - EU Harmonised (MoM) 0.00% 0.30% Neutral 17:30 EUR EUR German Consumer Price Index - EU Harmonised (YoY) 0.80% 0.80% Neutral
  • 2. Major Market Update *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. Australia’s dollar rose to the highest in three weeks after business investment in the nation unexpectedly climbed. The U.S. currency headed for its third- straight decline against major counterparts. The strongest demand at Australian bond auctions in a decade reflects yields in a sweet spot: more stable than those in the U.S. and higher than those in Europe. The euro rose from its lowest in almost a year as speculation cooled that that the European Central Bank will add further monetary stimulus when it meets next week The U.S. budget deficit will narrow less than forecast this year even as it falls to the lowest level since 2007 as a share of the economy, according to the Congressional Budget Office. The rupee ended steady on Wednesday as optimism over continued foreign investments in domestic markets was offset by caution. Dollar sets 13-month high as euro struggles on ECB easing expectations. Taiwan’s dollar rose to a two-week high after foreign investors boosted holdings of local stocks and on speculation faster inflation will prompt the central bank to tolerate currency gains Canada’s dollar strengthened the most in almost a year as its U.S. counterpart weakened and traders speculated that the acquisition of coffee-shop chain Tim Hortons Inc. will increase demand for the local currency.