Dollar/Rupee July Future
Dollar/rupee ended down on dollar selling by foreign banks amid
overseas funds inflows into local debt while the dollar index traded down
Friday from previous day on risk aversion to safe haven assets as investors'
prospects of a Federal Reserve rate hike in the near term waned post the FOMC
minutes amid an upbeat US labour market data.
Technical, USDINR was unable to break above 67.75 its immediate
resistance, and retraced more than 0.15% yesterday. However, pair yet
trading above the 50% Fibonacci Retracement of its previous short term rally
started from 66.7250 to 68.31 levels.
Immediate support now seen at 67.50 and pair would need to
trade below this level in order to test 67.33-67.10; else pair expected to
consolidate around 67.50-67.80
EUR/INR July Future
Euro fell during afternoon trades Thursday after Germany's
industrial production dropped the most in 21 months in May in a sign that the
headwinds from a global economic slowdown and political uncertainty in Europe
damped activity.
EURINR retraced more than 0.80% and settled at 74.90. A
breakdown of short term consolidation is indicating for bearishness in EURINR.
Near term resistance is seen at 75.50 and any rise towards 75.25-75.30 is
expected to attract huge selling activities. Target 74.80-74.60.
GBP/INR July Future
Pound rebounded Thursday as investors covered their
short-position after the pound tumbled to a fresh 31-year low against the
greenback on account of Brexit, even as uncertainty continues to weigh on
investors sentiment.
After hitting a low of 87.5850, GBPINR saw pullback towards
88.20, settled down by 1.05%. Intraday price action resulted in formation of
hammer candle stick which is indicating for bearish trend reversal or temporary
recovery.
On the downside, crucial support is 87.45 and sustain trade
below only could expect to test 87.00-86.50.
JPY/INR July Future
The currency pair traded positive for the fifth-straight session
as investors across the globe are also worried about the broader impact that
Britain's vote to leave the European Union would have on the global economy.
JPYINR retraced from the day high 67.1575, and settled at 66.76
levels. Intraday price action resulted in formation of spinning top candle
stick which is indicating for trend reversal or short term correction in
JPYINR.
Further, pair would need to trade above 67.20 in order to test
67.55-67.75 and above.
Major
Economic Data & Events Schedule today
|
Time
|
Currency
|
Economic Indicators
|
Forecast
|
Previous
|
Possible Impact
|
|
5:20am
|
JPY
|
Current Account
|
1.52T
|
1.63T
|
Negative
|
|
JPY
|
Bank Lending y/y
|
-
|
2.20%
|
-
|
|
|
5:30am
|
JPY
|
Average Cash Earnings y/y
|
0.50%
|
0.00%
|
Positive
|
|
10:30am
|
JPY
|
Economy Watchers Sentiment
|
42.9
|
43
|
Negative
|
|
11:30am
|
EUR
|
German Trade Balance
|
22.3B
|
24.0B
|
Negative
|
|
12:15pm
|
EUR
|
French Gov Budget Balance
|
-
|
-56.5B
|
-
|
|
EUR
|
French Industrial Production m/m
|
-0.40%
|
1.20%
|
Negative
|
|
|
2:00pm
|
GBP
|
Goods Trade Balance
|
-10.2B
|
-10.5B
|
Negative
|
|
6:00pm
|
USD
|
Average Hourly Earnings m/m
|
0.20%
|
0.20%
|
Neutral
|
|
USD
|
Non-Farm Employment Change
|
174K
|
38K
|
Positive
|
|
|
USD
|
Unemployment Rate
|
4.80%
|
4.70%
|
Positive
|
