Choicebroking Currency Report: Indian Rupee rose marginally by 2 paise in Tuesday’s trading session. US IBD/ TIPP Economic Optimism rose by 2.4 points to 48.7-mark in May.

1. Currency Highlights
04th
May’2016
HighLights:
 Indian Rupee rose marginally by 2 paise in Tuesday’s trading session
 US IBD/ TIPP Economic Optimism rose by 2.4 points to 48.7-mark in May
 Euro Zone Producer Price Index (PPI) grew by 0.3 percent in March
 UK's Manufacturing PMI declined by 1.8 points to 49.2-mark in April
Indian Rupee recovered from its previous fall and gained marginally around
2 paise to end at 66.42 against the US dollar on Tuesday. The currency had
appreciated on account of fresh selling of dollars from exporters and banks.
Further, upside in the currency was seen due to combined output of eight
crucial infrastructure sectors jumping to a 16-month high of 6.4 percent in
March due to a double-digit growth in refinery products, fertilizers, cement
and electricity.
However, sharp positive movement in the currency was capped due to weak
domestic market sentiments. Indian Rupee moved in the range of 66.22 to
66.46 in Tuesday’s trading session. The Reserve Bank of India (RBI) reference
rate for dollar was seen at 66.26 and Euro stood at 76.61 on Tuesday.
US Dollar Index gained around 0.4 percent in Tuesday’s trading session due to favourable economic data from the country.
Further, upside in the currency was seen due to rise in risk aversion in global market sentiments which led to increase in de-
mand for the low yielding currency.
US Investor's Business Daily (IBD) / TechnoMetrica Institute of Policy and Politics (TIPP) Economic Optimism gained by 2.4
points to 48.7-mark in May as against a rise of 46.3-level in April. Total Vehicle Sales rose to 17.4 million in April from 16.6 mil-
lion a month ago.
Euro against dollar fell around 0.3 percent on Tuesday on account of strength in the dollar index. Further, weak global market
sentiments led to negative movement in the currency. However, sharp fall in the currency was prevented as a result of opti-
mistic data from the region.
Euro Zone Producer Price Index (PPI) grew by 0.3 percent in March with respect to decline of 0.7 percent in a month ago.
The Sterling Pound against dollar plunged around 0.9 percent in Tuesday’s trade on account of strength in the dollar index.
Further, weak global market sentiments along with unfavourable economic data from the country led to negative movement
in the currency.
UK's Manufacturing Purchasing Managers' Index (PMI) declined by 1.8 points to 49.2-mark in April from 51-level in March.
British Retail Consortium (BRC) Shop Price Index remained unchanged at negative 1.7 percent in the last month.
The Japanese Yen against dollar depreciated around 0.2 percent in yesterday’s trade due to rise in risk appetite in global mar-
ket sentiments in early part of the trade which led to decline in demand for the low yielding currency. However, less volatility
was observed as Japanese markets were shut on the eve of Constitution Day holiday.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Last PrevCl. PriceChng PriceChng%
DollarIndex 92.24 92.53 (0.29) (0.31)
USD/INR(Spot) 66.44 66.37 0.07 0.11
USD/INR(NseApr) 66.78 66.77 0.01 0.01
EUR/INR(Spot) 76.93 76.97 (0.04) (0.05)
EUR/INR(NseApr) 77.28 76.61 0.67 0.87
GBP/INR(Spot) 97.45 97.34 0.11 0.11
GBP/INR(NseApr) 97.85 97.64 0.21 0.21
JPY/INR(NseApr) 63.00 62.57 0.43 0.68
MarketHighlights

2. Technical View:
On daily chart, JPYINR has formed bullish candle stick with
gap up opening and closing with .46 paise up. The JPYINR
price has shown breakout of its rising channel pattern 62.40
levels. Moreover, Pair has been trading above its 100 hourly
exponential moving average which suggest short term trend
remains up.
On daily chart, momentum oscillator RSI has given positive
divergence which suggest more buying opportunity can be
seen on lower side.
A momentum indicator MACD has shown positive crossover
on hourly chart, which indicates short term trend remains
positive .
For now we expect prices to move higher towards 63.20 lev-
els in few trading sessions.
Pivot levels for the Day
Technical View:
On daily chart, USDINR has been taking support of its hori-
zontal trends line at 66.24 levels. On daily chart, price has
formed tweezers bottom candle pattern which is bullish re-
versal formation. Moreover, price have been trading above
its 60 Hourly exponential moving average so any dips upto
66.60 level, it would become the best buying opportunity in
near term.
On hourly chart, prices have been taking support of its rising
channel formation at 66.60 levels.
A momentum indicator RSI has been trading above 40 levels
on daily chart, which suggest bullishness in the prices.
Momentum indictor MACD has shown positive crossover on
hourly chart, which gives positive confirmation to the prices.
For now we expect prices to move higher towards 67.10 lev-
els in few trading sessions.
Currency Highlights
04th
May’2016
USDINR JPYINR
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
USDINR 67.21 66.95 66.87 66.69 66.61 66.43 66.17
JPYINR 63.80 63.35 63.19 62.90 62.74 62.45 62.00

3. Pivot levels for the Day
Currency Highlights
04th
May’2016
GBPINR EURINR
Technical View:
The pair has been trading in acceding triangle formation on
daily chart. The price has given breakout its symmetrical
pattern at 76.10 levels on hourly chart. On the other hand,
Pair has been trading above its 100 daily exponential moving
average which indicates that trend is remains up.
On daily chart, GBPINR has shown breakout of its rectangle
pattern at 76.40 levels. A momentum oscillator RSI have
been trading above 60 levels on hourly chart which gives
bullishness to the prices.
Moreover, momentum indicator MACD has shown positive
crossover on four hourly chart which support our bullish view
on the pair.
For now we expect prices should move higher towards 77.90
levels in the coming trading sessions.
Technical View:
The price has given breakout its rectangle pattern at 97.10
levels on daily chart. On the other hand, Pair has been trad-
ing above its 100 daily exponential moving average which
indicates that trend is remains up.
On daily chart, GBPINR has given breakout of its falling trend
lien at 96.80 levels . A momentum oscillator RSI have been
trading above 60 levels on hourly chart which gives bullish-
ness to the prices.
Moreover, momentum indicator MACD has shown positive
crossover on four hourly chart which support our bullish
view on the pair.
For now we expect prices should move higher towards 98 .50
levels in the coming trading sessions.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
GBPINR 99.26 98.60 98.23 97.94 97.57 97.28 96.62
EURINR 78.33 77.73 77.51 77.13 76.91 76.53 75.93

4. Currency Highlights
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Economic Indicators
Date Time Data Prior Expected Impact
03.05.16 7:15am Caixin Manufacturing PMI 49.7 49.8 Actual > Forecast = Good for
currency; Yuan
03.05.16 2:00pm Manufacturing PMI 51.0 51.3 Actual > Forecast = Good for
currency; GBPINR
03.05.16 8:00pm FOMC Member Mester Speaks
04th
May’2016

5. Currency Highlights
04th
May’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: 2016.05.04 08:34:10 +05'30'