#ChoiceBroking #CurrencyHighlights

1. Currency Highlights
24th
Nov’2016
HighLights:
 Indian Rupee dropped to nine month low to 68.56 in Wednesday’s trade
 US Core Durable Goods Orders grew by 1 percent in previous month
 Euro Zone Flash Manufacturing PMI increased to 53.7-level in November
 US Revised UoM Consumer Sentiment surged to 93.8-mark in November
Indian Rupee was under pressure for fourth consecutive day and depreciated
around 31 paise to end at 68.56 against the US dollar on Wednesday. The
currency depreciated on account of month end dollar demand from banks
and importers. Further, constant outflow of foreign funds from the economy
along with weak domestic market sentiments led to negative movement in
the currency. Moreover, estimates of US Federal Reserve hiking its interest
rates kept pressure on the currency. Indian Rupee moved in the range of
68.797 to 68.811 in Wednesday’s trade. The Reserve Bank of India (RBI) fixed
reference rate for the dollar was seen at 68.4772 and Euro stood at 72.7844
as on 23rd
Nov’16.
In cross-currency trades, the rupee rebounded against the pound sterling to
settle at 84.98 from 85.01, but fell back against the euro to end at 72.91 as
compared to 72.62 on Tuesday. The home unit also edged lower against the
Japanese yen to finish at 61.75 from 61.62 per 100 yens earlier.
For the month of November 2016, FII outflows in equities totalled at Rs.12629.96 crores ($1870.36 million) as on 23rd
November 2016. Year
to date basis, net capital inflows stood at Rs.34356.76 crores ($5189.97 million) as on 23rd
November 2016.
US Dollar Index rose around 0.6 percent in Wednesday’s trading session due to rising bets of the Federal Reserve hiking its interest rates in
Dec’16 meeting. Further, upside in currency was seen because of rise in risk aversion in global markets which led to increase in demand for
the low yielding currency along with favourable economic data from the country.
US Core Durable Goods Orders grew by 1 percent in October as against a rise of 0.1 percent in September. Durable Goods Orders rose by
4.8 percent in last month from a decline of 0.3 percent in September. New Home Sales plunged by 11,000 to 563,000 in October when
compared to 574,000 a month ago. Revised UoM Consumer Sentiment surged by 2.2 points to 93.8-mark in November with respect to 91.6
-level in October.
Euro against dollar fell around 0.63 percent on Wednesday on account of strength in the dollar index. Further, weak domestic market senti-
ments coupled with unfavourable economic data from the region kept pressure on the currency.
French Flash Manufacturing Purchasing Managers' Index (PMI) fell by 0.3 points to 51.5-mark in November as against a rise of 51.8-level in
October. French Flash Services PMI grew by 1.2 points to 52.6-mark in current month from 51.4-level in October. German Flash Manufac-
turing PMI dropped by 0.6 points to 54.4-level in November when compared to 55-mark a month ago. German Flash Services PMI rose by
0.8 points to 55-mark in November with respect to 54.2-level in last month. Euro Zone Flash Manufacturing PMI increased marginally by
0.2 points to 53.7-level in November as compared to 53.5-mark in October. Euro region Flash Services PMI jumped by 1.3 points to 54.1-
mark in existing month from 52.8-level in October.
The Sterling Pound rose around 0.13 percent in Wednesday’s trade after UK’ Office of Budget Reform raised the GDP forecast for current
year. However, stronger dollar along with weak global market sentiments capped sharp gains in the currency.
The Japanese Yen against dollar depreciated by more than 1 percent in Wednesday’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.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Last PrevCl. PriceChng PriceChng%
DollarIndex 101.2 101.09 0.11 0.11
USD/INR(Spot) 68.50 68.39 0.11 0.16
USD/INR(NseNov) 68.50 68.21 0.29 0.42
EUR/INR(Spot) 72.68 72.67 0.01 0.01
EUR/INR(NseNov) 72.71 72.58 0.13 0.18
GBP/INR(Spot) 84.83 84.95 (0.12) (0.14)
GBP/INR(NseNov) 84.81 84.96 (0.15) (0.18)
JPY/INR(NseNov) 61.73 61.60 0.13 0.21
MarketHighlights

2. Technical View:
On daily chart, the JPYINR price has completed a “Bullish
Anti-Cypher Harmonic Pattern” at 61.20 levels, the co-
ordinates of which are as follows:
Technical Parameter: XA of the leg from 62 to 67.80 ,AB
of the leg completed at 64 (i.e.61.80%% of XA leg.) ,BC of
the leg completed at 67.20 (i.e. 78.60% of AB leg.) and
CD of the leg completed at 61.20 levels (i.e. 127.20% of
XA and 224% Fibonacci Projection of BC leg.).
On daily chart momentum indicator RSI is trading near
its oversold zone at 33 levels which suggest further bull-
ishness can be seen in the prices.
So for trading perspective, one could use buy in the
range of 61.60 with SL of 61.20 for target of 62.40 levels.
Pivot levels for the Day
Technical View:
The pair has given breakout of its falling channel pattern
at 67.10 levels on daily chart. On daily USDINR prices
have shown breakout of its falling trend line at 67.20
levels.
Moreover, prices have been trading above its 50 DEMA
which gives the sign of bullishness in the prices.
A momentum indicator RSI has traded above 50 levels,
which suggest further positive momentum can be seen
in the prices.
In addition, momentum indicator MACD has shown pos-
itive crossover on daily chart.
So for trading perspective, one could buy in range 68.30
with SL of 67.90 for target of 69.
Currency Highlights
24th
Nov’2016
USDINR JPYINR
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
USDINR 68.02 68.23 68.37 68.44 68.58 68.65 68.86
JPYINR 61.30 61.50 61.61 61.70 61.81 61.90 62.10

3. Pivot levels for the Day
Currency Highlights
24th
Nov’2016
GBPINR EURINR
Technical View:
The price has shown breakdown of its falling channel a
pattern at 72.60 levels on daily chart. The EURINR pair
has shown horizontal trend line at 72.80 levels on daily
chart.
The pair has been trading below its 50 DEMA on daily
chart, which suggest further weakness can be seen in
the prices.
On daily chart momentum oscillator RSI have been trad-
ing below 60 which suggest bearishness in the prices.
A momentum indicator MACD has shown negative
crossover on daily chart, which add more bearishness
in the prices.
For now we can expect prices should move lower to-
wards 71.90 levels in the coming trading session.
Technical View:
The pair has shown breakout of its horizontal channel
pattern at 84.80 levels on daily chart. Moreover, prices
have been trading above 50 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 60
levels on daily chart, which suggest the possibilities of
bounce back in the in the prices.
For now we expect prices should move higher towards
85.60 levels coming trading sessions.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
GBPINR 84.22 84.54 84.67 84.86 84.99 85.18 85.50
EURINR 72.20 72.47 72.60 72.74 72.87 73.01 73.28

4. Currency Highlights
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
24th
Nov’2016
Economic Indicators
Date Time Data Prior Expected Impact
24.11.16 12:30 AM FOMC Meeting Minutes More hawkish than expected
= Good for currency;
USDINR
24.11.16 06:00 AM Flash Manufacturing PMI 51.4 51.7 Actual > Forecast = Good
for currency; JPYINR
24.11.16 12:30 PM German Final GDP q/q 0.2% 0.2% Actual < Forecast = Good
for currency; EURINR
24.11.16 02:30 PM German Ifo Business Cli-
mate
110.5 110.6 Actual > Forecast = Good
for currency; EURINR

5. Currency Highlights
24th
Nov’2016
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds