#ChoiceBroking #Currencyreport : Indian Rupee recovered on Thursday, after falling for three days

1. Currency Highlights
03rd
June’2016
HighLights:
 Indian Rupee recovered on Thursday, after falling for three days
 US ADP Non-Farm Employment Change rose to 173,000 in May
 Spanish Unemployment Change fell by 119,800 in previous month
 UK’s Construction PMI declined by 0.8 points to 51.2-mark in May
Indian Rupee recovered yesterday after falling for three days and gained
by 16 paise to end at 67.29 against the US dollar on Thursday. The curren-
cy had appreciated on account of selling of dollars by exporters and banks.
Further, dollar index weakened ahead of the employment figures from the
US. On the global front the dollar index touched a two-week low against
the yen on Thursday, which led to positive movement in the Indian Rupee.
Additionally, upside movement in the domestic market sentiments contin-
ued with positivity in the currency. Indian Rupee moved in the range of
67.21 to 67.42 in Thursday’s trading session. The Reserve Bank of India
(RBI) reference rate for dollar was seen at 67.25 and Euro stood at 75.30
on Thursday.
US Dollar Index gained around 0.1 percent in Thursday’s trading session due to favourable economic data from the country.
However, rise in risk appetite in global market sentiments led to decline in demand for the low yielding currency which capped
sharp gains in the dollar index.
US Automatic Data Processing, Inc. (ADP) Non-Farm Employment Change increased by 7,000 to 173,000 in May as against a
rise of 166,000 in April. Unemployment Claims dropped marginally to 267,000 for the week ending on 27th
May’16 from
268,000 in prior week.
Euro against dollar declined around 0.3 percent on Thursday on account of strength in the dollar index coupled with unfavour-
able economic data from the region. However, upbeat global market sentiments cushioned sharp fall in the currency.
Spanish Unemployment Change plunged by 119,800 in May as against a decline of 83,600 in April. Euro Zone Producer Price
Index (PPI) declined by 0.3 percent in April with respect to rise of 0.3 percent a month ago. Euro Zone Minimum Bid Rate re-
mained unchanged at zero percent in current month.
The Sterling Pound plunged around 0.1 percent in Thursday’s trade on account of unfavourable manufacturing data from the
country along with stronger dollar. However, sharp downside in the currency was prevented due to upbeat global market sen-
timents.
UK’s Construction Purchasing Managers' Index (PMI) declined by 0.8 points to 51.2-mark in May from 52-level in April.
The Japanese Yen against dollar appreciated around 0.6 percent in Thursday’s trade due to rise in risk aversion in global mar-
ket sentiments in early part of the trade which led to increase in demand for the low yielding currency.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Last PrevCl. PriceChng PriceChng%
DollarIndex 95.29 95.42 (0.13) (0.14)
USD/INR(Spot) 67.29 67.43 (0.14) (0.21)
USD/INR(NseJune) 67.56 67.76 (0.20) (0.30)
EUR/INR(Spot) 75.34 75.44 (0.10) (0.13)
EUR/INR(NseJune) 75.75 75.73 0.02 0.03
GBP/INR(Spot) 97.15 97.16 (0.01) (0.01)
GBP/INR(NseJune) 97.58 97.82 (0.24) (0.25)
JPY/INR(NseJune) 61.96 61.94 0.02 0.03
MarketHighlights

2. Technical View:
The JPYINR price has been trading in rising channel pattern
and price has taken support of its lower band of channel
pattern 61.20 levels on 4 hourly chart. Prices have been taken
resistance of 50% Fibonacci retracement levels form its previ-
ous down move of 64 to 61 levels.
However , Pair has been trading above its 50 hourly exponen-
tial moving average which suggest short term trend remains
Up.
On 4 hourly chart, momentum oscillator RSI has moved
above its 45 levels, which gives positive confirmation to the
prices.
A momentum indicator MACD has shown positive crossover
on 4 hourly chart, which indicates short term trend remains
bullish.
For now we expect prices to move lower higher 62.30 levels
in few trading sessions.
Pivot levels for the Day
Technical View:
The price has been moving in its rising channel formation
from past few weeks and price has taken support of its lower
band of channel pattern at 67 levels on 4 hourly chart.
Moreover, price have been trading above of its 21 four hourly
exponential moving average which suggest near term trend
remains up. So any dips in the prices towards 67.50 level,
used as buying opportunity.
A momentum indicator RSI has moved above 60 levels on 4
hourly chart, which suggest bullishness in the prices.
A momentum indictor MACD has given positive crossover and
trading above its single line on 4 hourly chart, which gives
positive confirmation to the prices.
For now we expect prices to move higher towards 67.90 lev-
els in few trading sessions.
Currency Highlights
03rd
June’2016
USDINR JPYINR
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
USDINR 67.11 67.35 67.45 67.59 67.69 67.83 68.07
JPYINR 61.24 61.59 61.78 61.94 62.13 62.29 62.64

3. Pivot levels for the Day
Currency Highlights
03rd
June’2016
GBPINR EURINR
Technical View:
The pair has been trading in ascending triangle pattern and
taken support of its lower band of pattern at 75.10 levels on
4 hourly chart. On the other hand, Pair has been trading
above its 21 hourly exponential moving average which indi-
cates that trend is remains positive.
The pair has taken support of its 38.20% Fibonacci retrace-
ment levels on hourly chart form its previous rally of 74 to 77
levels.
A momentum oscillator RSI have been trading above 40 lev-
els on 4 hourly chart which gives the signs of bullishness to
the prices.
Moreover, momentum indicator MACD has shown positive
crossover on daily chart which support our bullish view on
the pair.
Technical View:
The prices have been moving in rising wedge formation form
past few days and price has faced resistance of its upper
band of wedge pattern at 99.10 levels on 4 hourly chart.
Moreover, price has formed evening star candle stick
pattern on 4 hourly chart which gives negative confirmation
to the prices.
On the other hand, Pair has been trading below its 21 hourly
exponential moving average which indicates that medium
term trend is remains bearish.
A momentum oscillator RSI has given negative divergence
on 4 hourly chart 58 levels which gives the sign of bearish-
ness to the prices.
Moreover, momentum indicator MACD has shown negative
crossover on 4 hourly chart which support our bearish view
on the pair.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
GBPINR 97.01 97.29 97.45 97.57 97.73 97.85 98.13
EURINR 75.12 75.46 75.61 75.80 75.95 76.14 76.48

4. Currency Highlights
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Economic Indicators
Date Time Data Prior Expected Impact
03.06.16 7:15am Caixin Services PMI 51.8 52.0 Actual < Forecast = Good for
Yuan
03.06.16 2:00pm Services PMI 52.3 52.5 Actual < Forecast = Good for
currency; GBPINR
03.06.16 6:00pm Average Hourly Earnings m/m 0.3% 0.2% Actual > Forecast = Good for
currency; USDINR
03.06.16 6:00pm Non-Farm Employment Change 160K 159K Actual > Forecast = Good for
currency; USDINR
03.06.16 6:00pm Unemployment Rate 5.0% 4.9% Actual < Forecast = Good for
currency; USDINR
03.06.16 6:00pm Trade Balance -40.4B -41.2B Actual < Forecast = Good for
currency; USDINR
03.06.16 7:30pm ISM Non-Manufacturing PMI 55.7 55.4 Actual < Forecast = Good for
currency; USDINR
03.06.16 7:30pm Factory Orders m/m 1.1% 1.8% Actual < Forecast = Good for
currency; USDINR
03.06.16 10:00pm FOMC Member Brainard Speaks
03rd
June’2016

5. Currency Highlights
03rd
June’2016
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Amit Pathania
Digitally signed by Amit Pathania
DN: cn=Amit Pathania, o=Choice Equity Broking Pvt. ltd, ou=Research
Department, email=amit.pathania@choiceindia.com, c=IN
Date: 2016.06.03 08:34:11 +05'30'