#ChoiceBroking #Currencyhighlights - India’s India Nikkei Services PMI gained by 1.6 points to 51.9-mark in July

1. Currency Highlights
04th
Aug’2016
HighLights:
 India’s India Nikkei Services PMI gained by 1.6 points to 51.9-mark in
July
 US ADP Non-Farm Employment Change rose to 179,000 in prior month
 Euro Zone Final Services PMI jumped to 52.9-mark in previous month
 UK’s Services PMI remained unchanged at 47.4-mark in the last month
 US ISM Non-Manufacturing PMI slipped by 1 points to 55.5-level in
July
Indian Rupee reversed its gains and depreciated around 24 paise to end at
66.98against the US dollar on Wednesday. The currency depreciated on
account of dollar demand from importers and banks. Further, downside in
domestic market sentiments ahead of the GST bill discussion in Rajya Sa-
bha led to negative movement in the currency. However, sharp fall in the
currency was prevented due to constant inflow of foreign funds in debt
and equity markets. Additionally, favourable services data from the coun-
try prevented sharp downside in the currency. Indian Rupee moved in the
range of 66.70 to 67.01in Wednesday’s trading session. .
India’s India Nikkei Services Purchasing Managers' Index (PMI) gained by 1.6 points to 51.9-mark in July as against a rise of 50.3
-level in June.
US Dollar Index rose around 0.6 percent in Wednesday’s trading session due to favourable economic data from the country.
However, sharp upside in the currency was capped as a result of rise in risk appetite in global market sentiments which led to
decline in demand for the low yielding currency.
US Automatic Data Processing, Inc. (ADP) Non-Farm Employment Change rose by 7,000 to 179,000 in July as against a rise of
172,000 in June. Final Services PMI jumped by 0.5 points to 51.4-mark in July from 50.9-level in June. The Institute for Supply
Management (ISM) Non-Manufacturing PMI slipped by 1 points to 55.5-level in July with respect to 56.5-mark a month ago.
Euro against dollar plunged around 0.7 percent on Wednesday on account of strength in the dollar index. However, upbeat
global market sentiments coupled with mixed economic data from the region cushioned sharp fall in the currency.
Spanish Services PMI declined by 1.9 points to 54.1-mark in July as against a rise of 56-level in June. Italian Services PMI grew
marginally to 52-level in last month from 51.9-mark in June. French Final Services PMI rose to 50.5-mark in July as compared to
50.3-level a month ago. German Final Services PMI slipped to 54.4-level in July with respect to 54.6-mark in June. Euro Zone
Final Services PMI jumped to 52.9-mark in previous month when matched with 52.7-level in June.
The Sterling Pound dropped around 0.22 percent in Wednesday’s trade due to stronger dollar. However, upbeat global market
sentiments along with favourable economic data from the country prevented sharp fall in the currency. UK’s Services PMI un-
changed at 47.4-mark in the last month.
The Japanese Yen against dollar depreciated around 0.34 percent in Wednesday’s trading session due to rise in risk appetite in
global market sentiments which led to decline in demand for the low yielding currency.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Last PrevCl. PriceChng PriceChng%
DollarIndex 95.22 94.99 0.23 0.24
USD/INR(Spot) 66.95 66.68 0.27 0.40
USD/INR(NseAug) 67.24 67.03 0.21 0.31
EUR/INR(Spot) 74.98 74.81 0.17 0.23
EUR/INR(NseAug 75.33 75.08 0.25 0.33
GBP/INR(Spot) 89.43 89.08 0.35 0.39
GBP/INR(NseAug) 89.81 88.79 1.02 1.14
JPY/INR(NseAug) 66.30 65.82 0.48 0.72
MarketHighlights

2. Technical View:
The price has taken support of its rising trend line at 64.50
levels on daily chart. The pair has been trading in rising chan-
nel pattern and price has taken support of its lower band of
channel pattern at 63.40 levels on daily chart. Price has
formed bullish inverted hammer candle stick pattern with ap-
pealing volumes which is bullish reversal pattern.
In addition, on daily chart prices have been trading above its
21 daily exponential moving average which gives the bullish
confirmation to the prices.
On daily chart, momentum oscillator RSI has moved above
50 levels, which gives positive confirmation to the prices.
A momentum indicator MACD has shown positive crossover
on daily chart, which indicates further bullishness in the pric-
es.
For now we expect prices to move higher towards 66.80 lev-
els in few trading sessions.
Pivot levels for the Day
Technical View:
The prices have been taking support of its rising trading line
at 66.90 levels on daily chart. On the other hand prices have
been taking support of at horizontal trend line at 67 levels on
daily chart.
Moreover, price have been trading above its 200 daily expo-
nential moving average which suggest medium term trend is
bullish. So any dips in the prices towards 67.10 level, used as
buying opportunity.
A momentum indicator RSI has moved above 45 levels on
daily chart, which suggest bullishness in the prices.
A momentum indictor MACD has given positive crossover on
daily chart, which gives positive confirmation to the prices.
For now we expect prices to move higher towards 67.60 lev-
els in few trading sessions.
Currency Highlights
04th
Aug’2016
USDINR JPYINR
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
USDINR 66.54 66.85 67.03 67.16 67.34 67.47 67.78
JPYINR 65.28 65.79 66.04 66.30 66.55 66.81 67.32

3. Pivot levels for the Day
Currency Highlights
04th
Aug’2016
GBPINR EURINR
Technical View:
The prices have been trading in ascending triangle pattern
from past few weeks and prices has taken support of its low-
er band of triangle pattern at 74 levels in daily chart.
On the other hand, Pair has been trading above its 200 daily
exponential moving average which indicates that trend is
remains up.
A momentum oscillator RSI have been trading above 50 lev-
els on daily 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.
For now we expect prices should move higher towards 76
levels in the coming trading sessions.
Technical View:
The price has given breakout of its falling trend line at 89
levels on daily chart. Price has also given the breakout of its
symmetrical pattern on hourly chart.
The price has formed Bullish candle on daily with appalling
volumes which indicates further up side movement can be
seen.
A momentum indicator RSI has moved above at 45 levels
on hourly chart, which suggest bullishness in the prices.
Moreover, momentum indicator MACD has shown positive
crossover on 4 hourly chart which support our bullish view
on the pair.
For now we expect prices should move higher towards 90.50
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 88.14 88.85 89.30 89.56 90.01 90.27 90.98
EURINR 74.61 74.87 75.09 75.13 75.35 75.39 75.65

4. Currency Highlights
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Economic Indicators
Date Time Data Prior Expected Impact
04.08.16 4:30PM BOE Inflation Report
04.08.16 4:30PM MPC Official Bank Rate Votes 0-9-0 0-1-8 More hawkish than expected =
Good for currency; GBPINR
04.08.16 4:30PM Monetary Policy Summary More hawkish than expected =
Good for currency; GBPINR
04.08.16 4:30PM Official Bank Rate 0.50% 0.25% Actual > Forecast = Good for
currency; GBPINR
04.08.16 4:30PM Asset Purchase Facility 375B 375B Actual < Forecast = Good for
currency; GBPINR
04.08.16 4:30PM MPC Asset Purchase Facility
Votes
0-0-9 0-0-9 More hawkish than expected =
Good for currency; GBPINR
04.08.16 5:00PM BOE Gov Carney Speaks More hawkish than expected =
Good for currency; GBPINR
04.08.16 6:00PM Unemployment Claims 266K 265K Actual < Forecast = Good for
currency; USDINR
04.08.16 7:30PM Factory Orders m/m -1.0% -1.8% Actual > Forecast = Good for
currency; USDINR
04th
Aug’2016

5. Currency Highlights
04th
Aug’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: 2016.08.04 08:56:41 +05'30'