#ChoiceBroking #CurrencyHighlights - Indian Rupee erased its six days gaining streak to 66.41 on Thursday

1. Currency Highlights
9th
Sep’2016
HighLights:
 Indian Rupee erased its six days gaining streak to 66.41 on Thursday
 US Unemployment Claims declined 259,000 for w/e on 2nd
Sep’16
 ECB kept the interest rates unchanged in the September meeting
 Japan’s Economy Watchers Sentiment rose to 45.6-mark in August
 China’s CPI dropped to 1.3 percent in the previous month
China’s Consumer Price Index (CPI) dropped to 1.3 percent in August as against
a rise of 1.8 percent in July. Producer Price Index (PPI) plunged by 0.8 percent
in last month from a previous fall of 1.7 percent in July.
Indian Rupee retreated from its high and six day gaining streak and depreciated
around 4 paise to end at 66.41 against the US dollar on Thursday. The currency
depreciated on account of fresh dollar demand from importers and banks. In-
vestors remained cautious ahead of the government issuing the consumer
price index (CPI) inflation data for August and Index of Industrial production
(IIP) data for July on 12 September. Wholesale price index (WPI) inflation data
for August is due on 14 September.
However, sustained inflow of foreign funds along with upbeat domestic market sentiments cushioned sharp negative movement in the
currency. Weaker dollar index also prevented more downside in the currency.
Indian Rupee moved in the range of 66.3887 to 66.4912 in Thursday’s trading session. The Reserve Bank of India (RBI) fixed reference rate
for the dollar was seen at 66.44 and Euro stood at 74.76 in Thursday’s trade.
US Dollar Index grew by 0.1 percent in Thursday’s trading session due to rise in risk aversion in global market sentiments which led to in-
crease in demand for the low yielding currency. Further, favourable economic data from the country continued with positive movement in
the currency.
US Unemployment Claims declined by 4,000 to 259,000 for the week ending on 2nd
Sep’16 as against a rise of 263,000 in prior week.
Euro against dollar rose around 0.2 percent on Thursday on account of favourable economic data from the region. However, weak global
market sentiments coupled with stronger dollar index capped sharp gains in the currency.
French Final Non-Farm Payrolls remained unchanged at 0.2 percent for the quarter ending in June. European Central Bank (ECB) kept the
interest rates unchanged at nil percent in the September meeting.
The Sterling Pound plunged around 0.3 percent in Thursday’s trade as a result of strength in the dollar. Further, weak global market senti-
ments led to negative movement in the currency.
The Japanese Yen against dollar depreciated around 0.8 percent in Thursday’s trading session due to rise in risk appetite in global market
sentiments in early part of the trade which led to decline in demand for the low yielding currency. Japan’s Economy Watchers Sentiment
rose by 0.5 points to 45.6-mark in August as against a rise of 45.1-level in July.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Last PrevCl. PriceChng PriceChng%
DollarIndex 94.88 95.05 (0.17) (0.18)
USD/INR(Spot) 66.42 66.37 0.05 0.08
USD/INR(NseSep) 66.59 66.57 0.02 0.03
EUR/INR(Spot) 74.98 74.23 0.75 1.00
EUR/INR(NseSep) 75.21 74.93 0.28 0.37
GBP/INR(Spot) 88.71 88.73 (0.02) (0.02)
GBP/INR(NseSep) 88.97 89.04 (0.07) (0.08)
JPY/INR(NseSep) 65.50 65.69 (0.19) (0.29)
MarketHighlights

2. Technical View:
On daily chart JPYINR pair opened the day at 65.53,
made a high of 65.69, low of 65.46, and closed the day at
65.50, thus it closed the day with gain of 0.37 point.
On daily chart JPYINR has been facing strong resistance
at 66 levels which is unfiled gap and 21 DMA also. Be-
side, pair has given closed below 21 moving average
which is place at 66.01level. & it show that near term
trend is down. On daily chart pair has formed for day
bullish candlestick pattern with. Which suggest some
buying at lower levels.
On daily chart momentum indicator RSI reading is at 48
levels which is also strong horizontal support now its
point out for positive breath in the pair.
So for trading perspective, one could use sell on Rise up-
to level of 65.79 with SL of 66.60 for Target of 64.40-
63.85
Pivot levels for the Day
Technical View:
On daily USDINR pair opened the day at 66.67, made a
high of 66.69, low of 66.56, and closed the day at 66.59,
thus it closed the day with a gain of 0.03 point. Pair has
given bearish breakout of head and shoulder.
On daily chart pair has open with gap up and made
small black body candlestick pattern. Which represent
uncertainty, and other hand pair has been trading below
all short term, medium term, and long term moving av-
erage which is 20, 100 and 200.Whereas on weekly
chart pair has closed below 20 & 50WMA. Which sug-
gest short term trend and medium term is bearish.
A Daily momentum indicator RSI reading is at 35 levels
with negative crossover, besides RSI reading is near to
its trend line and horizontal support which point out for
bounce back.
So for trading perspective, one could sell with SL of
67.20 for target of 66.30-66.10
Currency Highlights
9th
Sep’2016
USDINR JPYINR
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
USDINR 66.35 66.48 66.54 66.61 66.67 66.74 66.87
JPYINR 65.09 65.32 65.41 65.55 65.64 65.78 66.01

3. Pivot levels for the Day
Currency Highlights
9th
Sep’2016
GBPINR EURINR
Technical View:
On daily gap up opening EURINR pair opened the day at
75, made a high of 75.26, low of 74.97, and closed the
day at 75.21, thus it closed the day with a gain of 0.37
point.
Price has have been trading in descending triangle
pattern now price has taken support at 74.50 which is
200 DMA as well as lower band of descending triangle.
On other hand price has been trading below its 20, 100
daily moving average whereas took support at 50 daily
moving average which place at 74.48 which suggest
short term, medium term trend is down and long term
is bullish. On daily chart pair has formed bullish candle-
stick as well took support at 200DMA. On daily chart
momentum oscillator RSI have been trading at 41 level
which is also strong horizontal support now its point out
for positive breath in the pair.
For now we can expect prices should move to towards
75.50- 75.75.60 levels in the coming trading session.
Technical View:
On daily GBPINR pair opened the day at 89, made a high
of 89.04, low of 88.80, and closed the day at 89.97, thus
it closed the day with a loss of 0.08 point.
The price has been trading in following channel for-
mation from past weeks and prices have been facing
resistance of its upper bad of channel at 89.25 levels.
The prices have been trading above its 20 DMA and 50
DAM with is at 88.12 and 88.74, that is suggest short
term trend is Bullish.
A momentum indicator MADC has given bullish Cross
over with positive note on daily chart, many more direc-
tional indicator given buy signal which suggest bullish
momentum in the prices in coming trading session.
For now we expect prices should move high towards
90.80 with SL 87.50 levels in the coming trading ses-
sions.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
GBPINR 88.46 88.70 88.83 88.94 89.07 89.18 89.42
EURINR 74.57 74.86 75.03 75.15 75.32 75.44 75.73

4. Currency Highlights
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
9th
Sep’2016
Economic Indicators
Date Time Data Prior Expected Impact
09.09.16 7:00am CPI y/y 1.8% 1.7% Actual > Forecast = Good
for Yuan
09.09.16 7:00am PPI y/y -1.7% -1.0% Actual > Forecast = Good
for Yuan
09.09.16 2:00pm Goods Trade Balance -12.4B -11.7B Actual > Forecast = Good
for currency; GBPINR
09.09.16 All Day Eurogroup Meetings
09.09.16 5:15pm FOMC Member Rosengren
Speaks

5. Currency Highlights
9th
Sep’2016
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Vikas Chaudhari
Digitally signed by Vikas Chaudhari
DN: cn=Vikas Chaudhari, o=Choice Equity Broking
Pvt Ltd, ou=Research Department,
email=vikas.chaudhari@choiceindia.com, c=IN
Date: 2016.09.09 08:47:15 +05'30'