USD-INR July Future
Dollar/rupee snapped four-day losses Friday on dollar buying by
nationalised banks on behalf of oil importers amid weak local stocks and the
dollar index were little changed Thursday from previous day after June FOMC
minutes indicated the Federal Reserve is unlikely to hike rates in 2016 due to
Brexit.
Technical, Technical, USDINR witnessed 0.28% positive move on
Tuesday and settled at 67.69 levels. Bearish
trend reversal was noted on the EOD chat which is indicating for momentum
upside move in the pair, but there is massive resistance at 67.75 and pair
would need to trade above 67.75 in order to give upside move towards
68.00-68.20, else correction will expect to continue and pair may test
67.50-67.35 again.
EUR-INR July Future
Euro pared losses during afternoon trades as Bank of England
announced new measure to cut the counter cyclical capital buffer rate to 0%
from 0.5% in its biannual Financial Stability Report- the first to be published
since the Brexit vote.
EURINR settled with a gain of 0.50% at 75.5025
levels. Intraday
price action resulted in formation long bullish candle stick pattern which is
indicating for momentum upside move in days to come and any dip towards
75.00-75.05 could bring short term buying activities for the target
75-40-75.65.
On the downside support is seen at 74.90 and a break below
only could expect to test 74.65-74.35.
GBP-INR July Future
Pound extended fall to touch fresh 31-year low after Bank of
England warned of a number of threats to financial stability arising from
Britain's vote to leave the European Union after having lowered the
countercyclical capital buffer on banks' UK exposures.
GBPINR extended its recent bearish move and settled down 0.57%
at 89.07 levels. Sell strategy given below 89.74 was initiated and drop towards
88.9275 levels.
Near term outlook is looking bearish following to the
breakdown to long bearish candle stick, and any rise towards 89.10-89.20 is
expect to attract near term selling activities.
Today, pair witnessed 1.60% gap down opening and trading at
87.74.00 levels as per the Tuesday sell call it crashed vertically.
Now support is seen at 87.55 and fresh sell will expect
below this level for the target 87.00-86.50 and below.
JPY-INR July Future
JPY extended its gain for the third straight trade during
afternoon trades Tuesday tracking the fall in Japanese stocks following
disappointing services PMI data for June and Chinese composite data.
After witnessing a gap up opening at 66.08 vs previous close of
65.7625, JPYINR tested 66.58 and settled at 66.42 levels. Pair well managed to trade above its
short term moving average which giving strong buying signal.
As per the buy strategy given on Tuesday, JPYINR hit all
upside target. Now trading at 66.92 levels. Fresh buy expect to come above
67.00 target would be 67.35-67.70 and above. Stop loss below 66.85.
On the downside massive support is seen at 65.50 and sustain
trade below only will expect to test 65.00-64.80.
Major Economic Data & Events Schedule today
|
Time
|
Currency
|
Economic
Indicators
|
Forecast
|
Previous
|
Possible
Impact
|
|
6:00am
|
JPY
|
BOJ
Gov Kuroda Speaks
|
-
|
-
|
-
|
|
10:30am
|
JPY
|
Leading
Indicators
|
100.10%
|
100.00%
|
Positive
|
|
11:30am
|
EUR
|
German
Industrial Production m/m
|
0.10%
|
0.80%
|
Negative
|
|
12:15pm
|
EUR
|
French
Trade Balance
|
-4.9B
|
-5.2B
|
Negative
|
|
1:00pm
|
GBP
|
Halifax
HPI m/m
|
0.40%
|
0.60%
|
Negative
|
|
2:00pm
|
GBP
|
Manufacturing
Production m/m
|
-1.20%
|
2.30%
|
Negative
|
|
GBP
|
Industrial
Production m/m
|
-1.00%
|
2.00%
|
Negative
|
|
|
Tentative
|
EUR
|
French
10-y Bond Auction
|
-
|
0.49|1.8
|
-
|
|
Tentative
|
GBP
|
10-y
Bond Auction
|
-
|
1.66|1.8
|
-
|
|
5:00pm
|
EUR
|
ECB
Monetary Policy Meeting Accounts
|
-
|
-
|
-
|
|
USD
|
Challenger
Job Cuts y/y
|
-
|
-26.50%
|
-
|
|
|
5:45pm
|
USD
|
ADP
Non-Farm Employment Change
|
158K
|
173K
|
Negative
|
|
6:00pm
|
USD
|
Unemployment
Claims
|
269K
|
268K
|
Neutral
|
|
7:30pm
|
GBP
|
NIESR
GDP Estimate
|
-
|
0.50%
|
-
|
