#ChoiceBroking #CurrencyHighlights

1. Currency Highlights
10th
Nov’2016
HighLights:
 Indian Rupee rose to two month high at 66.44 on Wednesday
 US Final Wholesale Inventories fell to 0.1 percent in September
 Japan’s Core Machinery Orders plunged by 3.3 percent in Sept
 UK’s Goods Trade Balance at deficit of $12.7 billion in September
 Japan’s Economy Watchers Sentiment rose to 46.2-mark in Oct
Indian Rupee rebounded in its late trade to two month high and ap-
preciated around 18 paise to end at 66.44 against the US dollar on
Wednesday. The currency appreciated on account of selling of dollars
from banks and exporters.
However, sharp upside in the currency was capped due to weak do-
mestic market sentiments after a shock victory for Donald Trump in
the US presidential elections. Foreign institutional investors (FIIs) have
sold $629.80 million in debt and bought $6.77 billion in equity till date
this year.
Indian Rupee moved in the range of 66.4050 to 66.9287 in Wednesday’s trade. The Reserve Bank of India (RBI) fixed reference
rate for the dollar was seen at 66.7968 and Euro stood at 74.9727 as on 9th Nov’16.
US Dollar Index rose around 0.7 percent in Wednesday’s trading session after shock victory for Donald Trump in the US presi-
dential elections. However, sharp upside in the currency was capped as a result of rise in risk appetite in global markets which
led to decline in demand for the low yielding currency.
US Final Wholesale Inventories fell to 0.1 percent in September from 0.2 percent a month ago.
Euro against dollar fell by more than 1 percent on Wednesday on account of strength in the dollar index. However, upbeat do-
mestic market sentiments along with estimates of favourable economic data from the region prevented sharp fall in the cur-
rency.
The Sterling Pound grew around 0.2 percent in Wednesday’s trade due to upbeat global market sentiments along with opti-
mistic economic data from the country. However, sharp upside in the currency was prevented as a result of stronger dollar.
UK’s Goods Trade Balance was at a deficit of $12.7 billion in September as against a deficit of $11.1 billion in August.
The Japanese Yen against dollar depreciated around 0.5 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.
Japan’s Economy Watchers Sentiment rose by 1.4 points to 46.2-mark in October as against a rise of 44.8-level in September.
Core Machinery Orders plunged by 3.3 percent in September with respect to fall of 2.2 percent in August.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Last PrevCl. PriceChng PriceChng%
DollarIndex 97.37 97.68 (0.31) (0.32)
USD/INR(Spot) 66.49 66.20 0.29 0.44
USD/INR(NseNov) 66.62 66.81 (0.19) (0.29)
EUR/INR(Spot) 73.79 73.03 0.76 1.03
EUR/INR(NseNov) 74.00 73.86 0.14 0.19
GBP/INR(Spot) 82.59 82.01 0.58 0.70
GBP/INR(NseNov) 82.76 83.97 (1.21) (1.46)
JPY/INR(NseNov) 64.65 63.88 0.77 1.19
MarketHighlights

2. Technical View:
On daily chart JPYINR prices have been trading in sym-
metrical triangle pattern and price has taken support of
its lower band at 64.10 levels.
Moreover, price has taken support of its horizontal
trend line at 64.50 levels on daily chart.
Furthermore, prices have been trading above its 50 DE-
MA, which suggest short term trend is positive.
On daily chart momentum indicator RSI is trading above
55 levels which suggest further bullishness can be seen
in the prices.
In addition, momentum indicator MACD has shown posi-
tive crossover on daily chart.
So for trading perspective, one could use buy in the
range of 64.40 with SL of 64 for target of 65 levels.
Pivot levels for the Day
Technical View:
The pair has been trading in falling channel pattern from
past few months and prices have been facing resistance
of its upper band at 67.30 levels on daily chart. On daily
USDINR prices have been facing resistance of its falling
trend line at 67.30 levels.
On the other hand, prices have been facing resistance of
falling trend line at 67.20 levels on daily chart.
Moreover, prices have been trading below 21 HEMA
which gives the sign of bearishness in the prices.
A momentum indictor RSI has traded below 60 levels,
which suggest further weakness in the prices.
In addition, momentum indicator MACD has shown neg-
ative crossover on daily chart.
So for trading perspective, one could sell in range 66.75
with SL of 67 for target of 66.10.
Currency Highlights
10th
Nov’2016
USDINR JPYINR
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
USDINR 65.64 66.19 66.41 66.74 66.96 67.29 67.84
JPYINR 61.00 63.01 63.84 65.02 65.85 67.03 69.04

3. Pivot levels for the Day
Currency Highlights
10th
Nov’2016
GBPINR EURINR
Technical View:
The EURINR pair has been trading in falling channel
pattern and prices have been taking support of its lower
band of channel pattern at 73.20 levels on daily chart.
On the other hand price has taken support of its hori-
zontal trend line at 73.80 levels on daily chart.
Moreover, prices have been trading above its 25 DE-
MA, which suggest short term trend is up.
On daily chart momentum oscillator RSI have been trad-
ing above 50 which suggest bullishness in the prices.
A momentum indicator MACD has shown positive cross-
over on daily chart, which add more bullishness in the
prices.
For now we can expect prices should move higher to-
wards 74.65 levels in the coming trading session.
Technical View:
The pair has been trading in falling channel pattern
form pas few months and price has given breakout of
its channel pattern at 83 levels on daily chart. Moreo-
ver, prices have been trading below 25 DEMA, which
suggest short term trend looks positive.
The price has formed bullish hammer candle stick
pattern on daily chart, which is bullish pattern.
A momentum indicator MADC has given positive Cross
over on hourly chart, which gives the sign of bullishness
in the prices.
The momentum indictor RSI has been trading above
50levels on daily chart, which suggest the possibilities
of bounce back in the in the prices.
For now we expect prices should move higher towards
83.80 levels coming trading sessions.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
GBPINR 79.49 81.27 82.01 83.05 83.79 84.83 86.61
EURINR 70.11 72.27 73.15 74.43 75.31 76.59 78.75

4. Currency Highlights
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
10th
Nov’2016
Economic Indicators
Date Time Data Prior Expected Impact
10.11.16 05:20 AM BOJ Summary of Opinions More hawkish than expected
= Good for currency;
10.11.16 05:20 AM Core Machinery Orders m/m -2.2% -1.8% Actual > Forecast = Good
for currency; JPYINR
10.11.16 10th-16th M2 Money Supply y/y 11.5% 11.4% Actual > Forecast = Good
for currency; CNY
10.11.16 10th-16th New Loans 1220B 675B Actual > Forecast = Good
for currency; CNY
10.11.16 07:00 PM Unemployment Claims 265K 267K Actual < Forecast = Good
for currency; USDINR

5. Currency Highlights
10th
Nov’2016
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Anish Vyas
Digitally signed by Anish Vyas
DN: cn=Anish Vyas, o=Choice Merchandise Broking
Pvt. Ltd, ou=Sr. Research Associate,
email=anish.vyas@choiceindia.com, c=IN
Date: 2016.11.10 09:16:46 +05'30'