#ChoiceBroking #Currencyhighlights - Indian Rupee depreciated around 7 paise to 66.84 in Monday’s trade

1. Currency Highlights
09th
Aug’2016
HighLights:
 Indian Rupee depreciated around 7 paise to 66.84 in Monday’s trade
 China’s Trade Balance was at surplus of 343 billion Yuan in month of
July
 German Industrial Production gained by 0.8 percent in month of June
 Japan’s Economy Watchers Sentiment rose to 45.1-mark in last month
 Euro Zone Sentix Investor Confidence surged to 4.2-mark in August
China’s Trade Balance was at a surplus of 343 billion Yuan in July as against
a previous surplus of 311 billion Yuan in June. Consumer Price Index (CPI)
fell to 1.8 percent in July from 1.9 percent a month ago. Producer Price
Index (PPI) plunged by 1.7 percent in last month with respect to fall of 2.6
percent in June. Indian Rupee erased its gains and depreciated around 7
paise to end at 66.84 against the US dollar on Monday. The currency de-
preciated on account of fresh dollar demand from importers and banks.
Further, investors were cautious ahead of the Reserve Bank of India (RBI)
meeting tomorrow regarding its interest rates which it is expected to keep
unchanged.
However, sharp downside in the currency was cushioned due to rise in domestic market sentiments. Additionally, constant
inflow of foreign funds in debt and equity markets restricted sharp downside movement in the currency.
Indian Rupee moved in the range of 66.71 to 66.8575 in Monday’s trading session. The Reserve Bank of India (RBI) fixed refer-
ence rate for the dollar was seen at 66.7407 and Euro stood at 74.0622 in Monday’s trade. In cross-currency trades, the rupee
recovered against the pound sterling to settle at 87.25 from 87.95 on last Friday and also recouped against the Japanese yen
to end at 65.31 per 100 yens from 66.05. The domestic unit recovered against the euro to close at 74.05 from 74.32.
US Dollar Index rose around 0.2 percent in Monday’s trading session due to rise in risk aversion in global market sentiments
which led to increase in demand for the low yielding currency. Further, estimates of favourable economic data from the coun-
try during the week will lead to upside in the currency.
Euro against dollar gained marginally on Monday on account of favourable economic data from the region. However, weak
global market sentiments coupled with strength in the dollar index capped sharp rise in the currency.
German Industrial Production gained by 0.8 percent in June as compared to drop of 0.9 percent a month ago. Euro Zone Sentix
Investor Confidence surged by 2.5 points to 4.2-mark in August with respect to 1.7-level in last month.
The Sterling Pound dropped around 0.3 percent in Monday’s trade as a result of stronger dollar. Further, weak global market
sentiments kept pressure on the currency.
The Japanese Yen against dollar depreciated around 0.4 percent in Monday’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 3.9 points to 45.1-mark in July from 41.2-level a month ago.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Last PrevCl. PriceChng PriceChng%
DollarIndex 96.29 96.14 0.15 0.16
USD/INR(Spot) 66.81 66.84 (0.03) (0.04)
USD/INR(NseAug) 67.02 67.00 0.02 0.03
EUR/INR(Spot) 74.06 74.13 (0.07) (0.09)
EUR/INR(NseAug 74.33 74.79 (0.46) (0.62)
GBP/INR(Spot) 87.21 87.37 (0.16) (0.18)
GBP/INR(NseAug) 87.54 88.24 (0.70) (0.80)
JPY/INR(NseAug) 65.50 66.27 (0.77) (1.18)
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. However,
prices have been facing resistance of 66.40 levels on daily
chart. Any major movement can been seen after breakout of
falling trend line at 66.50 levels.
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
60 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.
Pivot levels for the Day
Technical View:
The price has given breakdown of rising channel pattern at
67.10 levels on daily chart. On the other hand prices have
been facing resistance of its horizontal trend line at 67.20
levels on daily chart.
Moreover, price have been trading below its 21 daily expo-
nential moving average which suggest short term trend is
bearish. So any rally in the prices towards 67.07 level, used
as selling opportunity.
A momentum indicator RSI has moved below 45 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 pric-
es.
For now we expect prices to move lower towards 66.60 lev-
els in few trading sessions.
Currency Highlights
09th
Aug’2016
USDINR JPYINR
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
USDINR 66.74 66.87 66.94 67.00 67.07 67.13 67.26
JPYINR 64.36 65.02 65.26 65.68 65.92 66.34 67.00

3. Pivot levels for the Day
Currency Highlights
09th
Aug’2016
GBPINR EURINR
Technical View:
The prices have been trading in descending triangle pattern
from past few weeks and prices has faced resistance of its
upper band of triangle pattern at 77 levels on daily chart.
On the other hand, Pair has been trading below its 21 daily
exponential moving average which indicates that trend is
remains down.
A momentum oscillator RSI have been trading below 50 lev-
els on daily chart which gives the signs of bullishness to the
prices.
Moreover, momentum indicator MACD has shown negative
sign on daily chart which support our bearish view on the
pair.
For now we expect prices should move lower towards 73.85
levels in the coming trading sessions.
Technical View:
The price has given breakdown of its symmetrical triangle
pattern at 88.50 levels on daily chart. Price has also given
the breakdown of its consolidation range of 89.50 to
88.50levels on hourly chart.
The price has formed Bearish candle on daily with appalling
volumes which indicates further down side movement can
be seen.
A momentum indicator RSI has moved below at 45 levels
on hourly chart, which suggest bearishness in the prices.
Moreover, momentum indicator MACD has shown negative
crossover on 4 hourly chart which support our bearish view
on the pair.
For now we expect prices should move lower towards 86.90
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 86.69 87.13 87.34 87.57 87.78 88.01 88.45
EURINR 73.84 74.11 74.23 74.38 74.50 74.65 74.92

4. Currency Highlights
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Economic Indicators
Date Time Data Prior Expected Impact
09.08.16 7:00AM CPI y/y 1.9% 1.7% Actual > Forecast = Good for
Yuan
09.08.16 7:00AM PPI y/y -2.6% -2.0% Actual > Forecast = Good for
Yuan
09.08.16 2:00PM Manufacturing Production m/m -0.5% 0.0% Actual > Forecast = Good for
currency; GBPINR
09.08.16 2:00PM Goods Trade Balance -9.9B -9.6B Actual > Forecast = Good for
currency; GBPINR
09.08.16 6:00PM Prelim Nonfarm Productivity q/
q
-0.6% 0.5% Actual > Forecast = Good for
currency; USDINR
09.08.16 6:00PM Prelim Unit Labor Costs q/q 4.5% 1.8% Actual > Forecast = Good for
currency; USDINR
09.08.16 9th-12th Mortgage Delinquencies 4.77% Actual > Forecast = Good for
currency; USDINR
09th
Aug’2016

5. Currency Highlights
09th
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: 2016.08.09 08:46:48 +05'30'