Weekly Currency Trading for Cash Trading
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Transcript of Weekly Currency Trading for Cash Trading
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20 JULY 24 JULY 2015
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
M
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REFERENCE RATE
(USD) 63.4928
REPO RATE 7.25%
REVERSE REPO 6.25%
CRR 4%
INFLATION -2.36%
KEY RATES As on 17/07/2015
MARKET EVENTS MARKET OUTLOOK
Indian Rupee witnessed volatility last
week against the American currency
as it moved in zigzag manner
although hovered around its
important support level. It is
remarkable that rupee is not found
to be vulnerable for the global issues
as seen during the recent Greece
crisis or Chinas melting economy ; it
may be due to the fact that foreign
exchange reserves are quiet
adequate to fund the imports for
several months. Regular flow of
foreign capital inflows in Equity
markets this week too supported in
the appreciation of Rupee. While
dollars gains against some
currencies capped the rise in rupee.
Forex cushion makes rupee
more resilient to global
shocks.
China's GDP grew 7% on-year
in the second quarter.
Trade-weighted sterling at 7-
1/2-year high, strongest run
since 2010.
Chinas Exports Rise in
another Sign of Stabilizing
Economy.
CURRENCIES PREVIOUS
RATE
CURRENT
RATE % CHANGE
USDINR 63.5900 63.5575 -0.05
EURINR 71.1425 69.1925 -2.74
GBPINR 98.8400 99.1875 0.35
JPYINR 51.9900 51.2475 -1.42
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USDINR
EURINR
USDINR last week also consolidated around the same strong support of 63.5100 and closed the
week on a flat note with slight negative bias. It needs to break this consolidation to move on
either side as any closing below 63.5000 can drag it to lower levels while 63.8000 is seen as
immediate resistance for the week.
EURINR last week showed continuous bear rally and dragged surpassing the major support and
closed with loss of approx 2.75%. On daily charts, double top pattern shows that if it sustains
below 69.4000 then it may move towards the next important support of 68.2000. On higher side,
70.2500-70.9000 is seen as immediate resistance range.
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CURRENCIES S1 S2 S3 R1 R2 R3 USDINR 63.3000
63.0000 62.7000 63.8000 64.2000 64.6000
EURINR 68.7000 68.2000 67.7000 69.8000 70.3000 70.9000
GBPINR 98.6000 97.7000 97.2000 99.7000 100.2000
101.0000
JPYINR 50.9000 50.6000 50.1000 51.6000
52.0000 52.4000
PIVOT TABLE
DATE TIME COUNTRY EVENT BLOOMBERG
ESTIMATE
PREVIOUS
LEVEL
22-JULY-2015 7:30
PM US
Existing Home
Sales 5.40m 5.35m
23-JULY-2015 6:00
PM US
Unemployment
Claims 285k 281k
24-JULY-2015 7:15
PM US
Flash
Manufacturing
PMI
53.7 53.6
24-JULY-2015 7:30
PM US New Home Sales 543k 546k
INTERNATIONAL UPDATES
UK Consumer Price Inflation was unchanged in the year to June
2015.
Retail Sales in U.S. Unexpectedly Fall on Broad-Based Retreat.
US Unemployment Insurance Weekly Claims was 281,000, a
decrease of 15,000 from the previous week.
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WWW.TRIFIDRESEARCH.COM
DISCLAIMER