Free Currency Market Weekly News

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Transcript of Free Currency Market Weekly News

  • 28 JULY 01 AUGUST 2014 W E E K L Y R E P O R T Buy on fear, sell on greed. Buy on the rumor, sell on the news. The trend is your friend. Amateurs want to be right. Professionals want to make money. WWW.TRIFIDRESEARCH.COM
  • REFERENCE RATE (USD) 60.1448 REPO RATE 8% REVERSE REPO 7% CRR 4% INFLATION 5.43% KEY RATESAs on 25/07/2014 MARKET EVENTS MARKET OUTLOOK Rupee fell 0.3% for the week and was first weekly loss in three in a week supported by foreign buying in absence of major events or factors. Range bound trading was seen as heavy dollar demand from importers was seen to meet month end commitments was offset from custodian banks. Major reason for strength in dollar was US treasury prices fell on Thursday after jobless claims dropping to their lowest since eight years. However, FOMC meet in coming week, other Asian currencies and moves in domestic shares are to be monitored for further movement of currency. Rupee edges up but snaps two-week gaining streak. Euro digs in after rebounding from lows. Dollar Climbs Most in 4 Months before Fed on Jobs Market. China's Yuan breaks three-day rising streak, guided by weaker midpoint. CURRENCIES PREVIOUS RATE CURRENT RATE % CHANGE USDINR 60.4000 60.1100 -0.48 EURINR 81.6850 80.8625 -1.00 GBPINR 103.2150 102.0575 -1.12 JPYINR 59.5950 59.0125 -0.97
  • USDINR EURINR USDINR last week showed sideways movement and closed on a flat note. On daily charts, rough Head & Shoulder pattern is seen according to which if it breaks the neck line then major support is seen near 59.8000 closing below which it may drag down. On higher side, immediate resistance is seen around 60.3000 sustaining above which may confirm upmove. EURINR last week surpassed the major support of 81.4000 and sustained below this mark. If this bearishness continue then 80.2000 is seen as key support level. On higher side, any closing above 81.4000 may confirm strength which may result in upmove.
  • CURRENCIES S1 S2 S3 R1 R2 R3 USDINR 59.8000 59.5000 59.2000 60.5000 60.7000 61.0000 EURINR 80.5000 80.2000 79.9000 81.3000 81.6000 82.0000 GBPINR 101.7000 101.3000 100.8000 102.4000 102.8000 103.2000 JPYINR 58.8000 58.4000 58.0000 59.3000 59.5000 59.9000 PIVOT TABLE DATE TIME COUNTRY EVENT BLOOMBERG ESTIMATE PREVIOUS LEVEL 28-JULY-2014 7:30 PM US Pending Home Sales m/m -0.2% 6.1% 30-JULY-2014 11:30 PM US FOMC Statement _ _ 31-JULY-2014 6:00 PM US Unemployment Claims 306K 284K 01-AUG-2014 6:00 PM US Unemployment Rate 6.1% 6.1% INTERNATIONAL UPDATES Brazil Real Falls as Overseas Turmoil Saps Emerging-Market Bid. Pound Has Steepest Week Drop in Four Months as Rally Seen Ending. Canada Dollar Drops to Five-Week Low on Economic Concern.