EURUSD appreciated against US dollar by 0.44 percent last week while EURINR appreciated significantly by 1.5 percent the same time frame. Fed Chairman Jerome Powell told the American Economic Association the Fed is not on a present path of rate hikes and it will be sensitive to the downside risks markets are pricing in.

1.
Key Highlight
 Partial Shutdown ends in US
 House of Commons reject Brexit deal
 Pm May survives no confidence vote
Weekly Performance and Outlook
USDINR
Indian Rupee depreciated by 1.0 percent last week
while the Dollar Index increased by 0.48 percent. Rupee
remained under pressure on account of continuous
strength in greenback and rising crude oil prices.
Meanwhile, The House on a 237‐187 vote passed the
latest in a series of bills to end the partial government
shutdown with little Republican support. The measure
would provide $12.1 billion in disaster aid and reopen
the closed agencies and the federal department
through Feb 8 but it does not provide the required
funds for the border wall eyed by Donald Trump. On
the trade war front, US is thinking to ease out certain
tariffs on China to get a better with them. The Trump
administrations have paused their trade war till 1st
March amid negotiations to get a better trade deal. In
the coming week, the movement in USDINR will be
driven by manufacturing and services PMI from US.
In this week, USDINR (CMP: 71.52) is expected to
trade between 71.00 to 71.90
EURINR

EURUSD depreciated against US dollar by 0.7 percent
last week while EURINR depreciated by 0.33 percent
the same time frame. CPI from Germany came in line
with market expectations at 0.1 percent for Dec’18.
Meanwhile, UK MP’s rejected the Brexit deal yesterday
by a massive 423 to 202 votes against the government.
The EU and European governments warned Tuesday
that the British parliament's rejection of a Brexit deal
heightened the risk of a disorderly withdrawal from the
bloc. In the coming week, the movement in EURINR will
be driven by ECB press conference.
In this week, EURINR (CMP: 81.13) is expected to
trade between 80.50 to 82.30
GBPINR
GBP rose against USD by 1.11 percent last week while
GBPINR depreciated by 2.06 percent. PM May won the
no confidence vote held against her yesterday. CPI from
UK came in line with market expectations at 2.1
percent for Dec’18. However, Prime Minister Theresa
May lost her bid to bring the ill‐fated Brexit deal
through the House of Commons by a huge majority of
230 votes. The tally of 432‐202 had 118 Conservatives
voting against their own Prime Minister in the most
lopsided government loss in history. In the coming
week, the movement in GBPINR will be driven by
further developments with regards to Brexit.
In this week, GBPINR (CMP: 90.77) is expected to
trade between 89.50 to 91.50
Hourly INR=IN 1:30 PM 01/10/2019 - 9:30 AM 01/22/2019 (DEL)
Cndl, INR=IN, 3:30 PM 01/21/2019, 71.2250, 71.2675, 71.2250, 71.2450, +0.0650, (+0.09%) Price
INR
70.3
70.4
70.5
70.6
70.7
70.8
70.9
71
71.1
71.2
71.3
71.4
71.2450
11 14 15 16 17 18 21 22
January 2019
Hourly EURINR=R 2:30 AM 01/12/2019 - 11:30 PM 01/21/2019 (DEL)
Cndl, EURINR=R, 3:30 PM 01/21/2019, 81.024, 81.073, 80.940, 80.973, +0.033, (+0.04%) Price
INR
80.5
80.6
80.7
80.8
80.9
81
81.1
81.2
81.3
81.4
81.5
80.973
00:30 12:30 00:30 16:30 04:30 16:30 04:30 16:30 04:30 16:30 00:30 12:30
Jan 14 19 Jan 15 19 Jan 16 19 Jan 17 19 Jan 18 19 Jan 21 19
Hourly GBPINR=R 2:30 AM 01/12/2019 - 11:30 PM 01/21/2019 (DEL)
Cndl, GBPINR=R, 3:30 PM 01/21/2019, 91.502, 91.572, 91.426, 91.468, -0.238, (-0.26%) Price
INR
90
90.3
90.6
90.9
91.2
91.5
91.8
92.1
92.4
91.468
00:30 12:30 00:30 16:30 04:30 16:30 04:30 16:30 04:30 16:30 00:30 12:30
Jan 14 19 Jan 15 19 Jan 16 19 Jan 17 19 Jan 18 19 Jan 21 19
Weekly Report – Jan. 14th
to Jan. 18th

2. Gold
Last week, Spot gold prices rose marginally by 0.1 percent
while on the MCX prices rose by 1.1 percent. Weak trade
numbers from China led to a fall in the global stocks
which raised concerns about further weakening in the
world’s second largest economy. Prices were also
supported by the rate hike pause by FED which continued
to pressurize the Dollar Index. However, prices struggled
to breach the $1,300 level, even though physical demand
for gold coins had picked up in Britain due to uncertainty
about its future relations with the European Union.
Britain is due to leave the EU on March 29, but investor.
In this week, Gold (CMP: 1278) is expected to trade
between 1265 to 1290
Crude Oil
Last week, WTI crude prices rose by 1.9 percent to
whereas on the MCX Oil prices rose by 3.08 percent.
Weak trade data from China had pressurized crude
prices. However, Prices were supported by China’s
plans to boost their economy which has stalled in the
past couple of months. US crude output surged to
about 12 million barrels per day (bpd) amid weaker
demand which restricted the gains. US Crude
Inventories declined marginally whereas a large build
up was seen in the gasoline inventories which pointed
towards weak demand for oil from the US. Supply cuts
by OPEC and other major producers reduced concerns
about excess output. OPEC had decided to reduce
output from January 2019 as per its statement in late
2018.
In this week, Brent Oil (CMP: 62.35) is expected to
trade between 61.50 to 64
Nifty
Despite global markets showing some signs of recovery,
last couple of months has been a period of
consolidation for our markets. The price activity within
this consolidation became lethargic as we saw overall
trading range getting contracted in recent weeks. On
Tuesday, we finally had a breakout from this congestion
zone and thereby confirming couple of price patterns.
However, things became more frustrating, as there
were no follow up move seen post the breakout. In
fact, in last three days, index remained in a slender
range but individual stocks underwent some decent
price correction. Fortunately, in the midst of this, index
managed to defend 10900 on a closing basis. We
expect Nifty heading towards 10985 first and then to
test 11050 – 11150 levels
In this week, Nifty (CMP: 10980) is expected to
trade between 10750 to 11150
Hourly XAU= 1:30 AM 01/12/2019 - 10:30 PM 01/21/2019 (DEL)
Cndl, XAU=, 3:30 PM 01/21/2019, 1,279.1200, 1,279.2000, 1,277.1100, 1,278.5600,
-2.3900, (-0.19%)
Price
USD
Ozs
1,278
1,280
1,282
1,284
1,286
1,288
1,290
1,292
1,294
1,278.5600
03:30 15:30 03:30 15:30 03:30 15:30 03:30 15:30 03:30 15:30 03:30 15:30
Jan 14 19 Jan 15 19 Jan 16 19 Jan 17 19 Jan 18 19 Jan 21 19
Hourly LCOc1 11:30 AM 01/10/2019 - 12:30 AM 01/22/2019 (DEL)
Cndl, LCOc1, 3:30 PM 01/21/2019, 62.53, 62.57, 62.29, 62.45, -0.24, (-0.38%) Price
USD
Bbl
59
59.5
60
60.5
61
61.5
62
62.562.45
11 12 15 16 17 18 19 22
January 2019
Hourly [.NSEI List 1 of 51] .NSEI 2:00 PM 01/11/2019 - 10:00 AM 01/22/2019 (DEL)
Cndl, .NSEI, 3:00 PM 01/21/2019, 10,969.35, 10,978.05, 10,961.95, 10,974.90,
+67.75, (+0.62%)
Price
INR
10,680
10,710
10,740
10,770
10,800
10,830
10,860
10,890
10,920
10,950
10,98010,974.90
09:30 13:30 09:30 13:30 09:30 13:30 09:30 13:30 09:30 13:30 09:30 13:30
Jan 14 19 Jan 15 19 Jan 16 19 Jan 17 19 Jan 18 19 Jan 21 19