The Indian rupee appreciated against the US dollar to reach a four-week high due to sustained selling of dollars by exporters and banks as well as robust capital inflows, while China's consumer prices fell more than expected and US job openings increased; technical analyses indicate bearish trends for USDINR and JPYINR but bullish trends for GBPINR and EURINR. Major economic data releases are expected from China and the UK that could impact currencies.

1. Currency Highlights
09th
June’2016
HighLights:
 Indian Rupee touched a four week high against dollar on Wednesday
 China’s Consumer Price Index (CPI) fell to 2 percent in the last month
 US JOLTS Job Openings rose to 5.79 million in the month of April
 UK’s Manufacturing Production grew by 2.3 percent in month of April
 Japan’s Core Machinery Orders dropped by 11 percent a month ago
Indian Rupee appreciated for fifth consecutive day and gained by 12 paise
to end at 66.65 against the US dollar on Wednesday. The currency touched
a four week high on account of sustained selling of dollars by exporters
and banks. Additionally, robust capital inflows into equities and debts also
led to appreciation in the Indian Rupee. FIIs have pumped in around
$812.87 million in equities in last ten consecutive trading sessions. Fur-
ther, recovery in the domestic market sentiments led to positive move-
ment in the currency. Indian Rupee moved in the range of 66.62 to 66.78
in Friday’s trading session.
China’s Consumer Price Index (CPI) fell to 2 percent in May as against a rise of 2.3 percent in April. Producer Price Index (PPI)
fell by 2.8 percent in last month from a drop of 3.4 percent in April.
US Dollar Index fell around 0.3 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. However, favourable economic data from the country cushioned
sharp fall in the currency.
US JOLTS Job Openings rose to 5.79 million in April as against a rise of 5.67 million in March.
Euro against dollar gained around 0.4 percent on Wednesday on account of weakness in the dollar index. Further, upbeat
global market sentiments led to positive movement in the currency.
The Sterling Pound rose around 0.2 percent in Wednesday’s trade on account of weaker dollar. Moreover, upbeat global mar-
ket sentiments along with favourable economic data from the country led to positive movement in the currency.
UK’s Manufacturing Production grew by 2.3 percent in April from 0.1 percent in March. Industrial Production rose by 2 percent
in April with respect to 0.3 percent a month ago.
The Japanese Yen against dollar appreciated around 0.6 percent in Wednesday’s trade due to rise in risk aversion in global
market sentiments in early part of the trade which led to increase in demand for the low yielding currency.
Japan’s Economy Watchers Sentiment plunged by 0.5 points to 43-mark in May as against a rise of 43.5-level in April. Core Ma-
chinery Orders dropped by 11 percent in April from a gain of 5.5 percent in March.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Last PrevCl. PriceChng PriceChng%
DollarIndex 93.71 93.84 (0.13) (0.14)
USD/INR(Spot) 66.66 66.77 (0.11) (0.17)
USD/INR(NseJune) 66.86 66.98 (0.12) (0.18)
EUR/INR(Spot) 75.78 75.82 (0.04) (0.05)
EUR/INR(NseJune) 76.08 76.09 (0.01) (0.01)
GBP/INR(Spot) 97.10 97.09 0.01 0.01
GBP/INR(NseJune) 97.42 97.71 (0.29) (0.30)
JPY/INR(NseJune) 62.41 62.13 0.28 0.45
MarketHighlights

2. Technical View:
The JPYINR price has been trading in rectangle pattern form
past few weeks and prices are facing resistance of its upper
band of channel pattern at 62.50 levels on hourly chart.
In addition, on four hourly chart price has formed hanging
man candle stick pattern , which is bearish reversal pattern.
On hourly chart, momentum oscillator RSI has moved below
60 levels, which gives negative confirmation to the prices.
A momentum indicator MACD has shown negative crossover
on hourly chart, which indicates short term trend remains
bearish.
For now we expect prices to move lower towards 61.70 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 given breakdown of its of
its lower band of channel pattern at 67.10 levels on daily
chart.
Moreover, price have been trading below of its 21 daily expo-
nential moving average which suggest near term trend re-
mains down. So any rally in the prices towards 67.20 level,
used as selling opportunity.
A momentum indicator RSI has moved below 60 levels on
daily chart, which suggest bearishness in the prices.
A momentum indictor MACD has given negative crossover on
daily chart, which gives negative confirmation to the prices.
For now we expect prices to move lower towards 66.50 lev-
els in few trading sessions.
Currency Highlights
09th
June’2016
USDINR JPYINR
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
USDINR 66.62 66.76 66.81 66.90 66.95 67.04 67.18
JPYINR 61.86 62.11 62.12 62.36 62.37 62.61 62.86

3. Pivot levels for the Day
Currency Highlights
09th
June’2016
GBPINR EURINR
Technical View:
The pair has given breakdown of its symmetrical triangle
pattern at 76.10 levels on daily chart. Now, the price has re-
tested the breakdown trend line at 76.30 levels.
On the other hand, Pair has been trading below its 21 half
hourly exponential moving average which indicates that
trend is remains negative.
A momentum oscillator RSI have been trading below 60 lev-
els on hourly chart which gives the signs of bearishness to
the prices.
Moreover, momentum indicator MACD has shown negative
crossover on hourly chart which support our bearish view on
the pair.
For now we expect prices should move lower towards 75.65
levels in the coming trading sessions.
Technical View:
The prices have been moving in rising channel formation
form past few weeks and price has taken support of its low-
er band of its channel pattern at 97 levels on daily chart.
The pair has formed Moring star candle stick pattern on daily
chart, which is bullish pattern.
On the other hand, Pair has been trading above its 50 hourly
exponential moving average which indicates that medium
term trend is remains bullish.
A momentum indicator RSI has moved above 45 levels on
daily 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 98
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 95.38 96.53 97.11 97.68 98.26 98.83 99.98
EURINR 75.76 75.97 76.05 76.18 76.26 76.39 76.60

4. Currency Highlights
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Economic Indicators
Date Time Data Prior Expected Impact
09.06.16 All Day China Bank Holiday
09.06.16 7:00am CPI y/y 2.3% 2.3% Actual > Forecast = Good for
currency; Yuan
09.06.16 7:00am PPI y/y -3.4% -3.1% Actual > Forecast = Good for
currency; Yuan
09.06.16 12:30pm ECB President Draghi Speaks
09.06.16 2:00pm Goods Trade Balance -11.2B -11.1B Actual > Forecast = Good for
currency; GBPINR
09.06.16 6:00pm Unemployment Claims 267K 269K Actual > Forecast = Good for
currency; USDINR
09th
June’2016

5. Currency Highlights
09th
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: 2016.06.09 08:47:50 +05'30'