Dollar/Rupee July Future
Dollar/rupee ended little changed Monday as dollar selling
by foreign banks offset the impact of month-end dollar demand by oil importers,
while the dollar index fell Tuesday after breaching its highest level in
fifteen-weeks as investors booked profit.
Federal Reserve Chairwoman Janet Yellen will no longer
attend a forum hosted by the European Central Bank in Portugal this week, a Fed
spokesman said Monday, reported Dow Jones.
The US central bank chief was set to participate in a panel
on Wednesday featuring Bank of England Governor Mark Carney and European
Central Bank President Mario Draghi.
Technical, USDINR retraced from the day high 68.1175, and
settled at 67.97 almost flat. In near term USDINR may remain indecisive as pair
formed a doji candle stick on EOD chart.
Near term resistance is seen at 68.40 and a break above only
could result in positive move towards 68.70 and above, else pair may show
consolidation around 67.90-68.20.
EUR/INR July Future
Euro traded down for the second trading day Monday as
heightened uncertainty about the economic and financial health of the single
currency bloc following UK's decision to leave the European Union increased
demand for safe-haven dollar.
EURINR extended its recent bearish trend and settled down by
0.54% at 74.86 levels. A breakdown of short term trend line support
and formation of long bearish candle stick on OED chart is yet indicating for
bearishness in EURINR.
On the other hand, strong resistance is seen at 75.65 on
closing basis and pair would need to trade above these levels in order to test
76.20-76.50.
Strategy - Sell on rise around 75.45-75.50 Target 75.00.
Stop loss above 75.65.
GBP/INR July Future
Pound touched near 31-year low for the second trading day
Monday on continued worries over future of United Kingdom's economy after its
exit from the European Union last week. The British currency plunged over 3.4%
on Monday as investors moved to safety of Yen.
GBPINR witnessed 3.58% on Monday and settled at 89.8450
levels. A broadening wedge pattern breakdown on EOD chart is yet indicating for
bearishness in GBPINR.
Today, correction is expected to come below 90.30. On
the other hand, immediate resistance is seen at 91.00-91.50.
Sell on rise around 91.10-91.20. Target 90.70-90.35. Stop
loss above 91.45.
JPY/INR July Future
Yen rose in response to continued risk aversion after the UK
citizens voted to leave the membership of the European Union in a referendum
last Thursday.
JPYINR extended its recent bullish trend and settled with a
gain of 0.67% at 66.8725 levels. Near term trend is expect to remain bullish
following to the strong breakout of short term consolidation and any dip
towards 66.80-66.90 is expect to attract near term buying activities
Buy on dip around 66.20-66.30 Target 66.70-66.90. Stop loss
below 66.00..
Major Economic Data & Events Schedule today
|
Time
|
Currency
|
Economic Indicators
|
Forecast
|
Previous
|
Possible Impact
|
|
11:30am
|
EUR
|
German Import Prices m/m
|
0.60%
|
-0.10%
|
Positive
|
|
1:30pm
|
EUR
|
ECB President Draghi Speaks
|
-
|
-
|
-
|
|
3:30pm
|
GBP
|
CBI Realized Sales
|
9
|
7
|
Positive
|
|
Day 1
|
EUR
|
EU Economic Summit
|
-
|
-
|
-
|
|
6:00pm
|
USD
|
Final GDP q/q
|
1.00%
|
0.80%
|
Positive
|
|
USD
|
Final GDP Price Index q/q
|
0.60%
|
0.60%
|
Neutral
|
|
|
6:30pm
|
USD
|
S&P/CS Composite-20 HPI y/y
|
5.50%
|
5.40%
|
Positive
|
|
7:30pm
|
USD
|
CB Consumer Confidence
|
93.2
|
92.6
|
Positive
|
|
USD
|
Richmond Manufacturing Index
|
2
|
-1
|
Positive
|
