1. 1st Dec’14 Currency Highlights
USDINR
Technical Outlook:
 USDINR pieces moved higher after
giving breakout from the consolidation
of the previous up move.
 Outlook remains bullish as the
momentum indicator, RSI has formed
bullish range shift which could be bullish
for prices.
 Prices are trading above the both the
EMA which would give positive
confirmation for prices.
 Bullish candlestick on daily timeframe
suggests strength in USDINR prices.
Fundamental News:
 The dollar was broadly higher against a basket of other major currencies on Friday, as it bounced back from losses posted on Wednesday and as trading volumes were expected to remain thin a day after the Thanksgiving holiday.
 Core consumer price inflation, which excludes food, energy, alcohol and tobacco, remained unchanged at an annualized 0.7% in November, in line with market estimates.
 The rate has now been below 1% for 13 straight months, well under the European Central Bank's target of near but just under 2%.
 In France, data showed that consumer spending fell 0.9% in October, compared to expectations for a 0.2% rise. September's consumer spending was revised to a 0.5% slip from a previously estimated 0.8% decline.
Buy Levels: 62.30 - 62.35
Sell Levels: 62.50 - 62.55 Economic Indicators Date Time Data Prior Expected Impact
01.12.14
No Data For USD Today

2. 1st Dec’14 Currency Highlights
EURINR
Technical Outlook:
 EURINR prices gave a gap down opening
but failed to sustain at lower levels and
moved higher.
 Currently prices are trading near the
downtrend line which suggests break
above the mentioned trend line could
head prices higher while failure to breach
the trend line would keep prices under
pressure.
 On smaller timeframe, prices are trading
above the center band of the Bollinger
band which again hints that prices could
test the upper band at 77.73 levels.
Fundamental News:
 The euro pared gains against the U.S. dollar on Friday, pulling away from session highs as euro zone inflation data released earlier in the session dampened demand for the single currency..
 EUR/USD pulled away from 1.2490, the session high, to hit 1.2472 during U.S. morning trade, still up 0.05%.
 Sentiment on the euro remained vulnerable after official data earlier showed that euro zone consumer price inflation ticked down to an annualized rate of 0.3% this month from 0.4% in October, in line with expectations.
Buy Levels: 77.50 – 77.55
Sell Levels: 77.85 – 77.90 Economic Indicators Date Time Data Prior Expected Impact
01.12.14
1.45PM
Spanish Manufacturing PMI
52.6
Actual > Expected=Good for EUR
01.12.14
2.15 PM
Italian Manufacturing PMI
49.0
Actual > Expected=Good for EUR
01.12.14
2.30 PM
Final Manufacturing PMI
50.4
Actual > Expected=Good for EUR

3. 1st Dec’14 Currency Highlights
GBPINR
Technical Outlook:
 After giving gap down opening GBPINR
prices are hovering near the uptrend line
shown in the chart.
 On smaller timeframe, prices are trading
in a possible head and shoulder formation
where we expect prices are forming right
shoulder of the pattern. And the neck line
level is at 97.70 levels.
 Break below the neck line could drift
prices towards 97.55 followed by 97.40
levels.
Fundamental News:
 The pound slipped lower against its U.S. counterpart on Friday, after data showed that U.K. house prices rose less-than-expected this month.
 GBP/USD hit 1.5680 during European morning trade, the pair's lowest since Wednesday; the pair subsequently consolidated at 1.5703, shedding 0.21%.
 In a report, the Nationwide Building Society said that U.K. house price inflation rose 0.3% in November, less than the expected 0.4% increase, after a 0.5% gain the previous month.
Buy Levels: 97.40 – 97.45
Sell Levels: 98.75 – 98.80 Economic Indicators Date Time Data Prior Expected Impact
01.12.14
3.00 AM
Manufacturing PMI
53.2
Actual > Expected=Good for GBP
01.12.14
3.00 AM
Net Lending to Individuals m/m
2.7B
Actual > Expected=Good for GBP
01.12.14
3.00 AM
M4 Money Supply m/m
-0.7%
Actual > Expected=Good for GBP
01.12.14
3.00 AM
Mortgage Approvals
61K
Actual > Expected=Good for GBP

4. 1st Dec’14 Currency Highlights
JPYINR
Technical Outlook:
 Prices have traded in sideways
formation where the daily range
remained narrow.
 Prices gave a gap down opening and
consolidated the down move
throughout the trading session.
 For the day we expect the range bound
movement to continue as the
momentum indicator, RSI remained in 6-
40 range on hourly timeframe as well as
on smaller timeframe.
Fundamental News:  The U.S. dollar rose against the yen on Friday, despite the release of mostly positive Japanese economic reports as demand for the greenback remained broadly supported.
 USD/JPY hit 118.34 during late Asian trade, the pair's highest since November 25; the pair subsequently consolidated at 118.13, gaining 0.33%.
 Official data showed on Friday that Japan's household spending declined by an annualized rate of 4.0% in October, compared to expectations for a 4.8% drop, after a 5.6% fall the previous month.
 A preliminary report also showed that industrial production in Japan rose 0.2% in October, confounding expectations for a 0.4% fall, after an increase of 2.9% in September.
Buy Levels: 52.70 – 52.75
Sell Levels: 53.05 – 53.10 Economic Indicators Date Time Data Prior Expected Impact
01.12.14
5.20 AM
Capital Spending q/y
3.0%
Actual > Expected=Good for JPY
01.12.14
7.05 AM
Final Manufacturing PMI
52.1
Actual > Expected=Good for JPY

5. 1st Dec’14 Currency Highlights
Ankit Tikmany (Sr. Research Analyst) ankit.tikmany@choiceindia.com
Amit Pawar (Research Associate) amit.pawar@choiceindia.com
Rohan Shinde (Research Associate) rohan.shinde@choiceindia.com
Deveya Gaglani (Research Advisor) deveya.gaglani@chocieindia.com
For Private Circulation Only Website: www.choiceindia.com
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6. 1st Dec’14 Currency Highlights
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