US Treasury yields and weak data that is undermining the case for a further rise in interest rates this year.

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Daily Market Reflection
25th
July2017
Market Outlook
Fundamental News
Reference Rate
Currency
Date Date
% Chg
21-07-17 24-07-17
USDINR 64.3185 64.4494 +0.20%
EURINR 74.8796 75.1287 +0.33%
GBPINR 83.5369 83.8164 +0.33%
JPYINR 57.5300 58.0100 +0.83%
The Rupee on Monday opened 9 paise down at 64.41 against dollar on
account of selling of American currency by banks and exporters.
The dollar fell to a 13-month low against a trade-weighted basket of
currencies on Monday, weighed down by softening US Treasury yields
and weak data that is undermining the case for a further rise in interest
rates this year. On Monday, the dollar index, measuring the currency's
strength against a basket of other currencies, fell to 93.823, its lowest
level since June 2016.
 European Monetary Union Markit Manufacturing PMI
registered at 56.8, below expectations (57.2)in July.
 Germany Markit PMI Composite registered at 55.1, below
expectations (56.3) in July.
 France Markit Services PMI came in at 55.9, below expectations
(56.7) in July.
Event Calendar (25th July 2017)
Time Currency Event Forecast Previous
1:30pm EUR
German Ifo Business
Climate
114.9 115.1
3:30pm GBP
CBI Industrial Order
Expectations
12 16
6:30pm EUR
Belgian NBB Business
Climate
-1.9 -2
7:30pm USD
CB Consumer
Confidence
116.2 118.9
7:30pm USD
Richmond
Manufacturing Index
7 7
10:30pm GBP
MPC Member Haldane
Speaks
- -
Currencies vs $
Currency
Close
(5:00pm)
Prev
Close
% Chg
Rupee 64.350 364.479 -0.20%
Dollar Index 93.75 93.78 -0.03%
Euro 1.1652 1.1664 -0.11%
Pound 1.3034 1.2994 +0.32%
Japanese Yen 110.69 111.12 -0.38%
Currency Future
Currency
Date Date
% Chg
21-07-17 24-07-17
USDINR 64.3625 64.3725 +0.02%
EURINR 74.9625 74.9525 -0.01%
GBPINR 83.7525 83.9100 +0.19%
JPYINR 57.7150 58.1025 +0.67%
Global Commodities
Commodity Close Prev.Close % Chg
Gold 1256.65 1254.90 +0.15%
Silver 16.505 16.457 +0.29%
Crude 46.27 45.77 +1.07%
Copper 2.726 2.72.3 +0.13%
USDINR
OUR PREVIOUS CALLS UPDATE
Intradaysuper star
Date Currency Entry Exit P/L
24/07 GBPINR(L) 83.8125 83.9325 +2400
Trifid special
Date Currency Entry Exit P/L
24/07 JPYINR(L) 57.57 57.87 +12000
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Overview
USDINR EURINR
R1 R2 S1 S2
64.5000 64.6000 64.2000 64.1000
USDINR traded in the same range as of previous session and
ended on a flat note.
On higher side, 64.5000 is still resisting it to move
northwards whereas 64.3000 is seen as important support for
the counter.
R1 R2 S1 S2
75.1000 75.3000 74.8000 74.6000
EURINR opened on positive note but dragged gradually to
settle the sessionon flat note.
The currency pair needs to sustain above the mark of
75.0000 to continue the up move whereas 74.5500 can be
seen as major support.
GBPINR
R1 R2 S1 S2
84.1000 84.3000 83.8000 83.6000
GBPINR found support at lower levels and gradually moved
towards immediate resistance levels.
Now, closing above 84.1000 can further ignite the counter to
show up move while 83.4500 might continue to act as
important support.
JPYINR
R1 R2 S1 S2
58.3000 58.5000 57.9000 57.7000
JPYINR jumped to breach the important resistance level and
closed higher.
Closing above 58.0000 indicates strength in the currency
pair and may move towards the next resistance of 58.3000
while 57.8000 may now act as key support.

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Intraday Super Star
(Premium Section)
GBPINR had beentrending sideways to positive and is expected to show the bull move in the coming sessionas well.
BUY ABOVE 84.0500 TARGETS 84.1700/84.2900 SL 83.8500.

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Trifid Special
(Premium Section)
EURINR tooksharp reversalfrom higher levels and closed on flat note with negative bias. The counter may further correct on
lower sides in the coming sessions.
SELL BELOW 74.9400 TARGET74.6400 SL 75.4400.

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