Dollar/Rupee Future
Dollar/rupee traded little changed Friday as investors decided to stay on sidelines are looking forward to the release of several important economic data from the world's largest economy that could give direction to the market and provide signs of economic growth in the world's largest economy.
Technical, USDINR traded in between 66.95-67.05 small range and settled at 66.9825 compare to previous close of 6.8775. On the EOD chart a breakdown of short term consolidation 66.90-67.25 is yet indicating probability for correction in USDINR, and pair may test 66.80-66.65 very soon.
On the other hand, massive resistance is seen at 67.25 sustain trade above only will expect to test 67.46 and above.
EUR-INR August Future
Euro snapped three-day gains Thursday as dollar strengthened after data from the world's largest economy showed better-than-expected jobs openings in June.
EURINR retraced from the 38.2% Fibonacci Retracement and settled at 74.70 levels. A long bearish candle formation is creating probability for the correction towards 74.35 and below.
Further, immediate resistance is seen at 75.10 and sustain trade above only will expect to test 75.35-75.50
Sell around 74.75-74.85. Target 74.50-74.25. Stop loss above 74.95.
GBP-INR August Future
Pound fell to one-month low Thursday as dollar strengthened after data from the world's largest economy showed better-than-expected jobs openings in June.
GBPINR retraced from the day high 87.3025 and tested 86.8025 before closing at 87.02. Near term trend expect to remain bearish and a break below 86.80 is expect to show 86.25-86.00 its next downside levels.
On the other hand, strong resistance is seen at 87.40 and upwards move towards 87.70-88.00 will expect to come above this level only.
JPY-INR Future
Yen traded range bound on Thursday as dollar appreciated post an upbeat US job openings and labour turnover data. Meanwhile, Japanese markets were closed for the Mountain Day public holiday.
JPYINR remained range bound for second consecutive day and settled at 66.09 almost flat. Buy strategy given above 66.20 was not initiated. Near term trend expect to remain positive following to the strong support of previous swing trend line.
On the other hand, further correction is expected to come below 65.85 for the target 65.50-65.30.
Major Economic Data & Events Schedule today
Time
|
Currency
|
Economic Indicators
|
Forecast
|
Previous
|
Possible Impact
|
7:30am
|
CNY
|
Industrial Production y/y
|
6.20%
|
6.20%
|
Neutral
|
CNY
|
Fixed Asset Investment ytd/y
|
8.90%
|
9.00%
|
Negative
| |
CNY
|
Retail Sales y/y
|
10.50%
|
10.60%
|
Negative
| |
11th-12th
|
CNY
|
Foreign Direct Investment ytd/y
|
-
|
5.10%
|
-
|
11:30am
|
EUR
|
German Prelim GDP q/q
|
0.30%
|
0.70%
|
Negative
|
EUR
|
German Final CPI m/m
|
0.30%
|
0.30%
|
Neutral
| |
EUR
|
German WPI m/m
|
0.30%
|
0.60%
|
Negative
| |
12:15pm
|
EUR
|
French Prelim Non-Farm Payrolls q/q
|
0.20%
|
0.30%
|
Negative
|
1:30pm
|
EUR
|
Italian Prelim GDP q/q
|
0.20%
|
0.30%
|
Negative
|
12th-16th
|
CNY
|
M2 Money Supply y/y
|
11.10%
|
11.80%
|
Negative
|
12th-16th
|
CNY
|
New Loans
|
900B
|
1380B
|
Negative
|
2:00pm
|
GBP
|
Construction Output m/m
|
0.90%
|
-2.10%
|
Positive
|
2:30pm
|
EUR
|
Flash GDP q/q
|
0.30%
|
0.30%
|
Neutral
|
EUR
|
Industrial Production m/m
|
0.60%
|
-1.20%
|
Positive
| |
6:00pm
|
USD
|
Core Retail Sales m/m
|
0.20%
|
0.70%
|
Negative
|
USD
|
PPI m/m
|
0.10%
|
0.50%
|
Negative
| |
USD
|
Retail Sales m/m
|
0.40%
|
0.60%
|
Negative
| |
USD
|
Core PPI m/m
|
0.20%
|
0.40%
|
Negative
| |
7:00pm
|
GBP
|
CB Leading Index m/m
|
-
|
-0.20%
|
-
|
7:30pm
|
USD
|
Prelim UoM Consumer Sentiment
|
91.5
|
90
|
Positive
|
USD
|
Business Inventories m/m
|
0.10%
|
0.20%
|
Negative
| |
USD
|
Prelim UoM Inflation Expectations
|
-
|
2.70%
|
-
|
