Dollar/Rupee
Dollar/rupee ended little changed as oil importers'
demand to meet their month-end commitments was offset by dollar selling by
foreign banks on behalf of exporters.
Technical, USDINR retraced from the day high 67.6875 and
tested 67.4925 before closing at 67.52 levels. A downside consolidation below
67.78 is yet indicating for bearishness in USDINR.
On the other hand, immediate resistance is seen at
67.90 and pair would need to trade above 67.90 in order to test 68.00-68.35
levels.
EUR/INR June Future
Euro traded up Wednesday as dollar pared gains ahead of a
referendum set for Thursday to decide fate of United Kingdom's membership of
European Union.
EURINR retraced from the day high 76.3950 tested 76.14
before closing at 76.30.Today, pair expect to remain volatile ahead of EU
referendum.
On the other hand, strong resistance is seen at 77.10 on
closing basis and pair would need to trade above these levels in order to test
77.55-78.00.
GBP/INR June Future
Pound little changed Wednesday as investors stayed on
sidelines ahead of Britain's vote to leave the European Union even as latest
poll showed that majority of Britons preferred to remain in the EU. United
Kingdom holds a referendum on Jun 23 to decide on continual of European Union's
membership
GBPINR retraced 0.35% from the previous day close and
settled at 99.15 levels. Intraday price action resulted in formation of bearish
harami candle stick which is indicating for bearish reversal in GBPINR. On the
other hand, strong resistance is seen at 99.60 sustain trade above only will
expect to test 100.50-101.00
JPY/INR June Future
Yen fell back, after seeing a reversal yesterday, as yen
strengthened amid unnerved markets on lingering concerns about the UK's fate in
the European Union.
JPYINR continued its recent downside move and settled at
64.5225 levels. A long bearish candle stick formation with strong resistance
64.95 is yet indicating for bearishness in JPYINR. Hence, in near term any rise
towards 64.75-64.80 is expected to attract huge selling pressure unless it
gives a closing.
On the upside, strong resistance is seen at 64.95 which
coincide with previous swing high and further upside move will expect to come
above these levels only.
Major
Economic Data & Events Schedule today
|
Time
|
Currency
|
Economic Indicators
|
Forecast
|
Previous
|
Possible Impact
|
|
7:30am
|
JPY
|
Flash Manufacturing PMI
|
48.2
|
47.7
|
Positive
|
|
12:30pm
|
EUR
|
French Flash Manufacturing PMI
|
48.8
|
48.4
|
Positive
|
|
EUR
|
French Flash Services PMI
|
51.5
|
51.6
|
Negative
|
|
|
1:00pm
|
EUR
|
German Flash Manufacturing PMI
|
52.1
|
52.1
|
Neutral
|
|
EUR
|
German Flash Services PMI
|
55
|
55.2
|
Negative
|
|
|
1:30pm
|
EUR
|
Flash Manufacturing PMI
|
51.4
|
51.5
|
Negative
|
|
EUR
|
Flash Services PMI
|
53.2
|
53.3
|
Negative
|
|
|
All Day
|
GBP
|
EU Membership Vote
|
-
|
-
|
-
|
|
Tentative
|
EUR
|
Long Term Refinancing Option
|
-
|
7.3B
|
-
|
|
6:00pm
|
USD
|
Unemployment Claims
|
271K
|
277K
|
Positive
|
|
6:30pm
|
EUR
|
Belgian NBB Business Climate
|
-2.9
|
-2.8
|
Negative
|
|
7:15pm
|
USD
|
Flash Manufacturing PMI
|
50.5
|
50.7
|
Negative
|
|
7:30pm
|
USD
|
New Home Sales
|
561K
|
619K
|
Negative
|
|
USD
|
CB Leading Index m/m
|
0.20%
|
0.60%
|
Negative
|
