Dollar/Rupee
Dollar/rupee ended at over one-week
high Wednesday on dollar buying by Nationalised and foreign banks likely for
their corporate clients and importers.
Technical, After hitting a low of
67.41520 in morning trade, USDINR saw a abrupt bullish rally and settled above
the immediate resistance of 67.75 which is coincide with 23.8% Fibonacci
Retracement. A long bullish candle stick formation on EOD chart is also
indicating for bullishness in USDINR.
Hence, any dip towards
67.50-67.60 is expected to give opportunity to buildup long position. On the
downside, immediate support is seen at 67.35 sustain trade below only will
expect to test 67.15-67.00.
EUR/Rupee
Euro traded up Wednesday on
safe-haven appeal after European stocks plunged on risk aversion tracking
plunge in oil prices.
EURINR continued its recovery rally
for second consecutive day and settled with gain of 0.21%. On the
daily chart, a long bullish candle stick formation is indicating for momentum
upside move in EURINR.
And any rise towards 75.95-76.00 is
expect to attract short term selling activities, unless pair give a closing
above 76.20.
GBP/Rupee
Pound traded at over one-week low
Wednesday investors fear UK may cease to a member of the European Union as
campaign for "Brexit gains strength ahead of June 23 referendum.
GBPINR witnessed 1.0% plunged
yesterday and settled at 97.8125. As per the sell strategy given since 30 May 2016
was rocked with GBPINR drop towards 97.6275 levels. On the EOD chart
formation of high wave candle stick is indicating bearishness in GBPINR.
Near term resistance is
seen at 98.25, and sustain trade above only could expect to test 98.55-99.00;
else any rise towards 98.00-98.10 may attract short term selling activities.
Target would be 97.50-97.00.
JPY/INR
Yen was set to post its biggest gains
in one-month losses Wednesday as safe-haven appeal for yen increased after the
latest guardian/ICM poll showed fears of "Brexit" from the European
Union. Also, Japan was to reschedule a planned increase in the sales tax in an
announcement by Prime Minister Shinzo Abe expected Wednesday, amid the
government's failure to stimulate long-term economic growth, a news report
said.
JPYINR witnessed decent positive
rally as was expected yesterday, and settled with a gain of 1.65% at 61.8425
levels. Intraday price action resulted in formation of long bullish candle
stick n EOD chart is yet indicating for bullishness in JPYINR.
Further, pair would need to trade
above 62.10 in order to give correction towards 62.55-62.70 next upside move,
else JPYINR may retarced towards 61.50-61.30 again.
Major Economic Data & Events Schedule today
Time
|
Currency
|
Economic Indicators
|
Forecast
|
Previous
|
Possible Impact
|
9:15am
|
JPY
|
10-y Bond Auction
|
-
|
-0.10|3.4
|
-
|
10:30am
|
JPY
|
Consumer Confidence
|
40.4
|
40.8
|
Negative
|
All Day
|
EUR
|
Italian Bank Holiday
|
-
|
-
|
-
|
12:30pm
|
EUR
|
Spanish Unemployment Change
|
-110.0K
|
-83.6K
|
Positive
|
2:00pm
|
GBP
|
Construction PMI
|
51.9
|
52
|
Negative
|
2:30pm
|
EUR
|
PPI m/m
|
0.10%
|
0.30%
|
Negative
|
All Day
|
ALL
|
OPEC Meetings
|
-
|
-
|
-
|
Tentative
|
EUR
|
French 10-y Bond Auction
|
-
|
0.57|1.7
|
-
|
5:00pm
|
USD
|
Challenger Job Cuts y/y
|
-
|
5.80%
|
-
|
5:15pm
|
EUR
|
Minimum Bid Rate
|
0.00%
|
0.00%
|
Neutral
|
5:45pm
|
USD
|
ADP Non-Farm Employment Change
|
177K
|
156K
|
Positive
|
6:00pm
|
EUR
|
ECB Press Conference
|
-
|
-
|
-
|
USD
|
Unemployment Claims
|
270K
|
268K
|
Negative
|
|
6:05pm
|
USD
|
FOMC Member Powell Speaks
|
-
|
-
|
-
|
6:30pm
|
GBP
|
BOE Gov Carney Speaks
|
-
|
-
|
-
|
More will update soon!!
