Gains in rupee was also supported by continued inflows by foreign institutional investors (FII) in the local equity and debt markets.

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Daily Market Reflection
03rd
August2017
Market Outlook
Fundamental News
Reference Rate
Currency
Date Date
% Chg
01-07-17 02-08-17
USDINR 64.0690 64.0773 +0.01%
EURINR 75.7488 75.2203 -0.69%
GBPINR 84.6416 84.1591 -0.57%
JPYINR 57.8600 57.9800 +0.20%
Indian rupee strengthened past 64-mark to hit over two year high
against the US dollar after the Reserve Bank of India’s (RBI) cut interest
rates by 25 basis points as seen by most economists. Gains in rupee was
also supported by continued inflows by foreign institutional investors
(FII) in the local equity and debt markets. So far this year, FII’s bought
$8.90 billion and $17.51 billion in equity and debt markets respectively.
Although the bond market has factored in such expectation, but the
benchmark yield still can fall by another five basis points following the
desired cut.
 Dollar hovers at 15-month lows vs. rivals, U.S. data on tap.
 Euro hits fresh 2-1/2 yearhighs against weakerdollar.
 UK Construction growth eases to 11-month low in July amid
weakness in commercial building.
 China's yuan pulls back from 9.5 month high after modest
dollar gains.
Event Calendar (03rd Aug 2017)
Time Currency Event Forecast Previous
2:00pm GBP Services PMI 53.6 53.4
4:30pm GBP BOE Inflation Report - -
4:30pm GBP Official Bank Rate 0.25% 0.25%
5:00pm GBP BOE Gov Carney Speaks - -
6:00pm USD Unemployment Claims 242K 244K
7:30pm USD
ISM Non-Manufacturing
PMI
56.9 57.4
Currencies vs $
Currency
Close
(5:00pm)
Prev
Close
% Chg
Rupee 64.0800 63.7975 -0.44%
Dollar Index 93.043 92.911 -0.14%
Euro 1.1841 1.1801 +0.34%
Pound 1.3237 1.3207 +0.23%
Japanese Yen 110.76 110.36 +0.36%
Currency Future
Currency
Date Date
% Chg
01-08-17 02-08-17
USDINR 64.2825 63.8850 -0.62%
EURINR 76.0150 75.6600 -0.47%
GBPINR 84.9575 84.5925 -0.43%
JPYINR 58.2425 57.7650 -0.82%
Global Commodities
Commodity Close Prev.Close % Chg
Gold 1265.70 1272.60 -0.54%
Silver 16.644 16.764 -0.72%
Crude 49.05 49.16 -0.22%
Copper 2.874 2.881 -0.24%
USDINR
OUR PREVIOUS CALLS UPDATE
Intradaysuper star
Date Currency Entry Exit P/L
02/08 JPYINR(S) 58.1950 57.9550 +4800
Trifid special
Date Currency Entry Exit P/L
02/08 EURINR(L) 76.11 75.61 -20000
For our next calls click here……..

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Overview
USDINR EURINR
R1 R2 S1 S2
64.0000 64.1000 63.7000 63.6000
USDINR showed sharp downfall since the start of the session
and closed below on weak note.
The currency pair gave negative breakouts on monthly chart
and closing below 64.0000 is a weak sign for it. Now, 63.5000
is seen as next major support for it.
R1 R2 S1 S2
75.8000 76.0000 75.4000 75.2000
EURINR showed steep downfall from higher levels and
closed in red territory.
It was unable to sustain above the mark of 76.0000 and this
may cause the currency pair to further drop towards the
next support of 75.3000.
GBPINR
R1 R2 S1 S2
84.7000 84.9000 84.3000 84.1000
GBPINR discontinued the previous sessions’ gains and closed
on lower note.
On daily chart, 84.2000 is seen as key support for the counter
sustaining below which can further drag it whereas 85.2000
is seen as important resistance.
JPYINR
R1 R2 S1 S2
57.9000 58.1000 57.5000 57.3000
JPYINR gradually lowered from the beginning of the session
and closed in red.
It faced stiff resistance at higher levels and closing below
57.4500 can further weaken the pair while 58-58.2000 will
be seen as resistance range forit.

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Intraday Super Star
(Premium Section)
JPYINR gave negative breakout from the upward channel pattern on daily chart and so selling pressure is expected to continue
in the coming session.
SELL BELOW 57.6800 TARGETS 57.5600/57.4400 SL 57.8800.

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Trifid Special
(Premium Section)
EURINR reversed fromthe higher resistance levels as seenon daily chart above. If the currency pair sustains below the
mentioned level then selling pressure can be seen.
SELL BELOW 75.5850 TARGET75.2850 SL 76.0850.

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