Wednesday, September 7, 2016

USD/JPY TECHNICAL OUTLOOK : 08.09.2016

USD/JPY TECHNICAL OUTLOOK : 08.09.2016

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BANKNIFTY FUT : SELL ZONE
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USD/JPY. Pair after opening at 102.06 and made a high of 102.16 and was seen selling pressure from the downward sloping trend line marked in the report few days back, the pair is having a key support at 100- 99.50 in the near term and is likely to test that level so any rise shall be utilized to sell the pair

Fundamental Overview

Yen is trading at 101.69, after appreciating to 101.19 amidst dollar weakness. Second quarter GDP data reported today has shown a 0.2% rise but failed to help the yen appreciate. Movement in the Yen would be dollar dependent for the rest of the week and the ECB announcement could add some volatility. Overall, the appreciating trend is likely to be limited near the 100 mark.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
05:20:00 JPY Adjusted Current Account 1.59T 1.65T
05:20:00 JPY Current Account n.s.a. (Jul) 2.090T 0.974T
05:20:00 JPY GDP (YoY) (Q2) 0.20% 0.20%
05:20:00 JPY GDP (QoQ) (Q2) 0.00% 0.00%
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Free Jpyinr Tips, 2nd Session: 8.Sep.2016

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 ( Paper Trading Practice for Currency Segment USDINR/EURINR/GBPINR/JPYINR ) 

 10.31 am : Buy USDINR (SEP) SA 66.71 SL 66.60 Target 66.81 / 66.89 / 66.97
10.31 am : Sell USDINR (SEP) SB 66.55 SL 66.66 Target 66.45 / 66.37 / 66.29
 USDINR (SEP) : INTRADAY TREND : UP SL : 66.55 

 10.31 am : Buy EURINR (SEP) SA 75.08 SL 74.97 Target 75.18 / 75.26 / 75.34
10.31 am : Sell EURINR (SEP) SB 74.92 SL 75.03 Target 74.82 / 74.74 / 74.66
 EURINR (SEP) : INTRADAY TREND : UP SL : 74.75 

 10.31 am : Buy GBPINR (SEP) SA 89.03 SL 88.92 Target 89.13 / 89.21 / 89.29
10.31 am : Sell GBPINR (SEP) SB 88.87 SL 88.98 Target 88.77 / 88.69 / 88.61
 GBPINR (SEP) : INTRADAY TREND : DOWN SL : 89.20 

 10.31 am : Buy JPYINR (SEP) SA 65.64 SL 65.53 Target 65.74 / 65.82 / 65.90
10.31 am : Sell JPYINR (SEP) SB 65.48 SL 65.59 Target 65.38 / 65.30 / 65.22
 JPYINR (SEP) : INTRADAY TREND : UP SL : 65.35 
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GBP/USD TECHNICAL OUTLOOK : 08.09.2016

GBP/USD TECHNICAL OUTLOOK : 08.09.2016

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GBP/USD. Pair after opening at 1.3428 made a high of 1.3430 , and saw some profit booking from the higher levels after a strong run up from the past weeks, the pair is likely to consolidate near the 50DMA at 1.3315 and any close below that will trigger so reversal for short term traders so intraday the pair would be volatile


Fundamental Overview

Pound is trading at 1.3350 and has corrected after the weaker than expected house price and manufacturing production data that was reported yesterday. Pound is likely to remain on the sidelines before the ECB announcement today as no other economic data is scheduled this week.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
04:31:00 GBP RICS House Price Balance (Aug) 6.00% 5.00%
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EUR/USD TECHNICAL OUTLOOK : 08.09.2016

EUR/USD TECHNICAL OUTLOOK : 08.09.2016

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EUR/USD. Pair after opening at 1.1239 Made a high of 1.1258 and was trading with side wise bias, during the day , now the pair has violated the recent range and had taken 200DMA support near 1.1158 and reversed with a bull candle until that levels hold on the downside , the pair is likely to go higher so intraday dips shall be utilized to buy the pair

Fundamental Overview

Euro is trading at 1.1253, as investors await the ECB rate setting committee meeting and Draghi‘s speech after the decision. There is no expectation of a rate cut but markets are expecting an extension to the bond buying program. An announcement of extension could see the Euro fall but the opposite would cap the upside near 1.13.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
17:15:00 EUR Deposit Facility Rate -0.40% -0.40%
17:15:00 EUR Interest Rate Decision (Sep) 0.00% 0.00%
18:00:00 EUR ECB President Draghi Speaks
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USDINR TECHNICAL OUTLOOK : 08.09.2016

USDINR TECHNICAL OUTLOOK : 08.09.2016

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Above is the Daily Chart of USDINR, the pair after opening at 66.53and made a high of 66.61 and trading side wise to negative the pair is trading below the crucial support of 66.65 (200DMA)that will act as a strong resistance in the pair as this becomes the key level, and now violated the major support , but intraday will see a range mentioned in the report

Fundamental Overview

US dollar index is trading at 94.86, appreciating marginally in the overnight trade. FED beige book released yesterday indicated that the 12 districts remained cautious before the November elections but remained optimistic about the economic outlook. There is no major data from the US tonight and all focus would be on ECB. We expect US dollar to remain supported at current levels.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Initial Jobless Claims 265K 263K 18:00:00
20:30:00 USD Crude Oil Inventories -0.083M 2.276M 20:30:00
20:30:00 USD Cushing Crude Oil Inventories -1.039M 20:30:00

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MARKET OVERVIEW GLOBAL TRACKER : 08.09.2016

MARKET OVERVIEW GLOBAL TRACKER : 08.09.2016

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Asian markets cooled off a little after three days of rally and mixed trade data from China, Fed beige
book reported yesterday, indicated a moderate positive outlook from  all the US districts.

Global currencies remained flat with the US dollar appreciating marginally. Uptick in Japan’s GDP
was reported this morning but markets would be focused on the ECB meeting, as expectations for
additional stimulus remain supported.

Rupee is set to open on negative note and markets are likely to remain in wait and watch mode
before the ECB meeting in the evening.

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Rupee opens 11 paise lower at 66.47 per dollar Sep 08, 2016 09.26 AM

Rupee opens 11 paise lower at 66.47 per dollar Sep 08, 2016  09.26 AM

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The Indian rupee has opened at 66.47 a dollar, down 11 paise compared with 66.36 per dollar on Wednesday.

 The Indian rupee snapped two-day winning streak on Thursday. The currency has opened at 66.47 a dollar, down 11 paise compared with 66.36 per dollar on Wednesday.

Modest data emanating from US was putting pressure on dollar as markets re-think a potential September rate hike.

Emerging markets currencies particularly rupee have gained against dollar. , the USD-INR is expected to trade in a range of Rs 66.25-66.50 per US dollar for the day.

The dollar fell to a more than one-week low against the yen after Bank of Japan policymakers are divided ahead of the central bank's next meeting. The Bank of Japan is split on whether to add stimulus at its September 20-21 policy meeting, where central bank governor Haruhiko Kuroda has said the board will conduct a comprehensive assessment of the effects of its massive stimulus programme.

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Rupee to trade in range 66.25-66.50/$ : 08.09.2016 08.50Am

Rupee to trade in range 66.25-66.50/$ : 08.09.2016 08.50Am

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 The new 10-year benchmark yield is expected to trade in the range of 6.81-6.84% for the day,

Modest data emanating from US was putting pressure on dollar as markets re-think a potential September rate hike.

 Emerging markets currencies particularly rupee have gained against dollar.

The USD-INR is expected to trade in a range of Rs 66.25-66.50 per US dollar for the day.

 On bond, announcement of open market operations purchases by RBI despite surplus liquidity in money markets has made bond markets bullish.

The new 10-year benchmark has outperformed all other securities across the G-Sec yield curve.

 The new 10-year benchmark yield is expected to trade in the range of 6.81-6.84 percent for the day,

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Best Currency Calls, 1st Session: 8.Sep.2016

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 ( Paper Trading Practice for Currency Segment USDINR/EURINR/GBPINR/JPYINR ) 

 9.16 am : Buy USDINR (SEP) SA 66.74 SL 66.63 Target 66.84 / 66.92 / 67.00
9.16 am : Sell USDINR (SEP) SB 66.58 SL 66.69 Target 66.48 / 66.40 / 66.32
 USDINR (SEP) : INTRADAY TREND : DOWN SL : 66.65 

 9.16 am : Buy EURINR (SEP) SA 75.13 SL 75.02 Target 75.23 / 75.31 / 75.39
9.16 am : Sell EURINR (SEP) SB 74.97 SL 75.08 Target 74.87 / 74.79 / 74.71
 EURINR (SEP) : INTRADAY TREND : UP SL : 74.75 

 9.16 am : Buy GBPINR (SEP) SA 89.06 SL 88.95 Target 89.16 / 89.24 / 89.32
9.16 am : Sell GBPINR (SEP) SB 88.90 SL 89.01 Target 88.80 / 88.72 / 88.64
 GBPINR (SEP) : INTRADAY TREND : DOWN SL : 89.20 

 9.16 am : Buy JPYINR (SEP) SA 65.64 SL 65.53 Target 65.74 / 65.82 / 65.90
9.16 am : Sell JPYINR (SEP) SB 65.48 SL 65.59 Target 65.38 / 65.30 / 65.22
 JPYINR (SEP) : INTRADAY TREND : UP SL : 65.20 
Posted by

8.Sep.2016 - INDIAN CURRENCY INTRADAY SUPPORT RESISTANCE LEVELS

USDINR ( 28-Sep-16 ) Enters in to Sell Zone and it is showing weakness. It is expected to test near Support levels 66.53 / 66.48 / 66.44 . And the upperside, it has Strong Resistance @ 66.57 upperside, it may test Resistance Levels such as 66.62 / 66.66 / 66.71 . Currently USDINR is Trading @ 66.57

EURINR ( 28-Sep-16 ) Enters in to Buy Zone and it is showing Strength. It is expected to test Resistance levels 75.06 / 75.18 / 75.33 . And the lower side , it has Strong Support @ 74.91 downside, it may tank to near support Levels such as 74.79 / 74.64 / 74.52 . Currently EURINR is Trading @ 74.94

 GBPINR ( 28-Sep-16 ) Enters in to Buy Zone and it is showing Strength. It is expected to test Resistance levels 89.27 / 89.50 / 89.65 . And the lower side , it has Strong Support @ 89.12 downside, it may tank to near support Levels such as 88.89 / 88.74 / 88.51 . Currently GBPINR is Trading @ 89.04

 JPYINR ( 28-Sep-16 ) Enters in to Buy Zone and it is showing Strength. It is expected to test Resistance levels 65.66 / 65.79 / 65.88 . And the lower side , it has Strong Support @ 65.56 downside, it may tank to near support Levels such as 65.44 / 65.34 / 65.21 . Currently JPYINR is Trading @ 65.53
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8.Sep.2016 - FREE INTEREST RATE FUTURES TIPS


Interest Rate Futures - RUPEEDESK 
( Paper Trading Practice for Currency Segment Interest Rate Futures (IRF) Bond Futures) 
 REGISTER FOR FREE INTEREST RATE FUTURES - WHATSAPP NO : +91- 9841986753 
8:00 AM : Buy 772GS2025 (SEP) SA 104.03 SL 103.92 Target 104.13 / 104.21 / 104.29
8:00 AM : Sell 772GS2025 (SEP) SB 103.87 SL 103.98 Target 103.77 / 103.69 / 103.61

 8:00 AM : Buy 759GS2026 (SEP SA 103.61 SL 103.50 Target 103.71 / 103.79 / 103.87
8:00 AM : Sell 759GS2026 (SEP SB 103.45 SL 103.56 Target 103.35 / 103.27 / 103.19

 8:00 AM : Buy 697GS2026 (SEP) SA 100.87 SL 100.76 Target 100.97 / 101.05 / 101.13
8:00 AM : Sell 697GS2026 (SEP) SB 100.71 SL 100.82 Target 100.61 / 100.53 / 100.45

 8:00 AM : Buy 788GS2030 (SEP) SA 106.54 SL 106.43 Target 106.64 / 106.72 / 106.80
8:00 AM : Sell 788GS2030 (SEP) SB 106.38 SL 106.49 Target 106.28 / 106.20 / 106.12 
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8.Sep.2016 - FREE CURRENCY USDINR OPTION TIPS

Currency USDINR CALL Option Tips 
( Paper Trading Practice for Currency Option Tips 
Register For Free Currency OptionTips Trial: http://rupeedesk.in/rupeedeskfree-calls 
STRIKE 66.50 CE : Buy USDINR (SEP) Call Option SA 0.72 SL 0.64 Target 0.76 / 0.79 / 0.83
STRIKE 66.50 CE : Sell USDINR (SEP) Call Option SB 0.56 SL 0.64 Target 0.52 / 0.49 / 0.45

 STRIKE 67.00 CE : Buy USDINR (SEP) Call Option SA 0.38 SL 0.30 Target 0.42 / 0.45 / 0.49
STRIKE 67.00 CE : Sell USDINR (SEP) Call Option SB 0.22 SL 0.30 Target 0.18 / 0.15 / 0.11

 STRIKE 67.50 CE : Buy USDINR (SEP) Call Option SA 0.20 SL 0.12 Target 0.24 / 0.27 / 0.31

STRIKE 68.00 CE : Buy USDINR (SEP) Call Option SA 0.14 SL 0.06 Target 0.18 / 0.21 / 0.25

STRIKE 68.50 CE : Buy USDINR (SEP) Call Option SA 0.11 SL 0.03 Target 0.15 / 0.18 / 0.22

Currency USDINR Put Option Tips 
( Paper Trading Practice for Currency Option Tips) 
Register For Free Currency OptionTips Trial: http://rupeedesk.in/rupeedeskfree-calls 
STRIKE 66.50 PE : Buy USDINR (SEP) Put Option SA 0.16 SL 0.08 Target 0.20 / 0.23 / 0.27

STRIKE 67.00 PE : Buy USDINR (SEP) Put Option SA 0.32 SL 0.24 Target 0.36 / 0.39 / 0.43
STRIKE 67.00 PE : Sell USDINR (SEP) Put Option SB 0.16 SL 0.24 Target 0.12 / 0.09 / 0.05

 STRIKE 67.50 PE : Buy USDINR (SEP) Put Option SA 0.64 SL 0.56 Target 0.68 / 0.71 / 0.75
STRIKE 67.50 PE : Sell USDINR (SEP) Put Option SB 0.48 SL 0.56 Target 0.44 / 0.41 / 0.37

 STRIKE 68.00 PE : Buy USDINR (SEP) Put Option SA 1.06 SL 0.98 Target 1.10 / 1.13 / 1.17
STRIKE 68.00 PE : Sell USDINR (SEP) Put Option SB 0.90 SL 0.98 Target 0.86 / 0.83 / 0.79

 STRIKE 68.50 PE : Buy USDINR (SEP) Put Option SA 1.54 SL 1.46 Target 1.58 / 1.61 / 1.65
STRIKE 68.50 PE : Sell USDINR (SEP) Put Option SB 1.38 SL 1.46 Target 1.34 / 1.31 / 1.27 
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7.Sep.2016: Profit Rs.25000 per lot in Commodity Premium Pack Today

Profit Rs.25000 per lot in Commodity Premium Pack Today
Profit Rs.25000 per lot in Commodity Premium Pack Today
REGISTER FOR LIVE TRIAL TIPS CURRENCY / COMMODITY / COMMODITY MINI / EQUITY / OPTION / FOREX -Click Here: 

SHORT CRUDEOIL SB 2980 SL 3030 TGT 2965 /2950 / 2930 (Profit Rs.1500 per lot)
SHORT GOLD SB 31400 SL 31700 TGT 31300 / 31200 / 31100 (Profit Rs.10000 per lot)
SHORT LEAD SB 129.50 SL 131 TGT 128.50 / 127.50 / 126.50 (Profit Rs.5000 per lot)
BUY NATURALGAS SA 180 SL 175 TGT 182 / 184 / 186 (Profit Rs.2500 per lot)
SHORT SILVER SB 47350 SL 47750 TGT 47150 / 46950 / 46750 (Profit Rs.6000 per lot) 
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7.Sep.2016: Profit Rs.28300 Per Lot in STOCK OPTION PREMIUM TIPS TODAY

Profit Rs.28300 Per Lot in STOCK OPTION PREMIUM TIPS TODAY


Profit Rs.28300 Per Lot in STOCK OPTION PREMIUM TIPS TODAY
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STRIKE PRICE 175CE: BUY BANKBARODA CALL OPTION SA 5.75 SL 3.00 TGT 6.75 / 7.75 / 8.75 (Profit Rs.7000 per lot)
STRIKE PRICE 265CE: BUY SBIN CALL OPTION SA 6.75 SL 4.00 TGT 7.75 / 8.75 / 9.75 (Profit Rs.9000 per lot)
STRIKE PRICE 1550CE: BUY LT CALL OPTION SA 25 SL 18 TGT 28 / 31 / 34 (Profit Rs.3000 per lot)
STRIKE PRICE 1440PE: BUY HDFC PUT OPTION SA 28 SL 20 TGT 31 / 34 / 37 (Profit Rs.3000 per lot)
STRIKE PRICE 1400PE: BUY YESBANK PUT OPTION SA 27 SL 20 TGT 30 / 33 / 36 (Profit Rs.6300 per lot)

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7.Sep.2016: Profit 35 Paise in CURRENCY TIPS, CURRENCY PREMIUM PACK TODAY

Profit 35 Paise in CURRENCY PREMIUM TIPS TODAY
Profit 35 Paise in CURRENCY PREMIUM TIPS TODAY

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www.rupeedesk.in

SHORT GBPINR SB 89.15 SL 89.45 TGT 89 / 88.85 / 88.70 (Profit 15 Paise)
SHORT JPYINR SB 65.60 SL 65.90 TGT 65.50 / 65.40 / 65.30 (Profit 10 Paise)
SHORT EURINR SB 75 SL 75.30 TGT 74.90 / 74.80 / 74.70 (Profit 10 Paise) 
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INTERNATIONAL FOREX TIPS ( INDIAN STANDARD TIME ) 6:33 PM

INTERNATIONAL FOREX TIPS ( INDIAN STANDARD TIME ) 6:33 PM
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6:33 PM INTRADAY Buy EURUSD SA 1.1260 SL 1.1246 Target 1.1270 / 1.1281 / 1.1292
6:33 PM INTRADAY Sell EURUSD SB 1.1234 SL 1.1248 Target 1.1224 / 1.1213 / 1.1202

6:33 PM INTRADAY Buy GBPUSD SA 1.3387 SL 1.3373 Target 1.3397 / 1.3408 / 1.3419
6:33 PM INTRADAY Sell GBPUSD SB 1.3361 SL 1.3375 Target 1.3351 / 1.3340 / 1.3329

6:33 PM INTRADAY Buy USDCHF SA 0.9696 SL 0.9682 Target 0.9706 / 0.9717 / 0.9728
6:33 PM INTRADAY Sell USDCHF SB 0.9670 SL 0.9684 Target 0.9660 / 0.9649 / 0.9638

6:33 PM INTRADAY Buy USDJPY SA 101.54 SL 101.40 Target 101.64 / 101.75 / 101.86
6:33 PM INTRADAY Sell USDJPY SB 101.28 SL 101.42 Target 101.18 / 101.07 / 100.96

6:33 PM INTRADAY Buy USDCAD SA 1.2844 SL 1.2830 Target 1.2854 / 1.2865 / 1.2876
6:33 PM INTRADAY Sell USDCAD SB 1.2818 SL 1.2832 Target 1.2808 / 1.2797 / 1.2786

6:33 PM INTRADAY Buy AUDUSD SA 0.7706 SL 0.7692 Target 0.7716 / 0.7727 / 0.7738
6:33 PM INTRADAY Sell AUDUSD SB 0.7680 SL 0.7694 Target 0.7670 / 0.7659 / 0.7648

6:33 PM INTRADAY Buy EURGBP SA 0.8425 SL 0.8411 Target 0.8435 / 0.8446 / 0.8457
6:33 PM INTRADAY Sell EURGBP SB 0.8399 SL 0.8413 Target 0.8389 / 0.8378 / 0.8367

6:33 PM INTRADAY Buy EURAUD SA 1.4637 SL 1.4623 Target 1.4647 / 1.4658 / 1.4669
6:33 PM INTRADAY Sell EURAUD SB 1.4611 SL 1.4625 Target 1.4601 / 1.4590 / 1.4579

6:33 PM INTRADAY Buy EURCHF SA 1.0906 SL 1.0892 Target 1.0916 / 1.0927 / 1.0938
6:33 PM INTRADAY Sell EURCHF SB 1.0880 SL 1.0894 Target 1.0870 / 1.0859 / 1.0848

6:33 PM INTRADAY Buy EURJPY SA 114.18 SL 114.04 Target 114.28 / 114.39 / 114.50
6:33 PM INTRADAY Sell EURJPY SB 113.92 SL 114.06 Target 113.82 / 113.71 / 113.60

Posted by

Currency Market Update 07-09-2016 18:28

 Currency Market Update 07-09-2016 18:28

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Currency Market Update
07-09-2016 18:28
USDINR:Trend-Down
EURINR:Trend-UP
GBPINR:Trend-UP
JPYINR:Trend-UP
EURUSD:Trend-UP
GBPUSD:Trend-Down
USDCHF:Trend-Down
USDJPY:Trend-Down
USDCAD:Trend-Down
AUDUSD:Trend-UP
EURGBP:Trend-UP
EURAUD:Trend-Down
EURCHF:Trend-Down
EURJPY:Trend-Down
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China August forex reserves fall to lowest since 2011 : 07.09.2016

China August forex reserves fall to lowest since 2011 : 07.09.2016

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While the USD 15.89 billion drop was in line with market expectations and was described by analysts as modest, it was the biggest decline since May and could signal fresh capital outflows from the economy even as it starts to show signs of steadying.

China's foreign exchange reserves fell to the lowest since 2011 in August as the central bank intervened to support the yuan currency as it weakened to near-six year lows. While the USD 15.89 billion drop was in line with market expectations and was described by analysts as modest, it was the biggest decline since May and could signal fresh capital outflows from the economy even as it starts to show signs of steadying.

China's reserves fell to USD 3.185 trillion in August -- the lowest since December 2011 -- from USD 3.20 trillion at the end of July, central bank data showed on Wednesday.

China's reserves, the largest in the world, fell by a record USD 513 billion last year after Beijing devalued the yuan currency, sparking a flood of capital outflows that threatened to destabilise the world's second-largest economy and alarmed global financial markets.

 But declines have slowed sharply in recent months as authorities tightened capital controls and cracked down on forex trading which is suspected to be speculation.

 Traders believe the central bank has stepped in via state-run banks since mid-July to slow the pace of depreciation in the yuan, which has weakened 2.6 percent against the US dollar so far this year. Analysts expect pressure on the yuan and reserves to continue as expectations of another US Federal Reserve interest rate hike this year support the dollar.

 "Lower FX reserves data is not surprising in light of the active intervention seen ahead of the G20 meeting (in China) in early September," said Chester Liaw, an economist at Forecast Pte Ltd in Singapore.

 "With a Fed rate hike likely before the end of the year, the authorities will have their hands full with containing any wild spikes in USD CNY triggered by capital outflows, and can expect FX reserves to remain on a downward path through to the end of the year."

 Nie Wen, an economist at Hwabao Trust in Shanghai, said a monthly drop of USD 10 billion-USD 20 billion in reserves "should be normal." "The pressure is relatively small compared with last year and large-scale capital outflows should be over... partly because capital controls are stricter than last year."

 The impact of forex supply and demand remains under control, the State Administration of Foreign Exchange (SAFE) said recently in a statement, adding that it expected cross-border capital flows to remain stable in the medium- to long-term.

 Net foreign exchange sales by the People's Bank of China jumped to their highest in five months in July, as the central bank sought to support the yuan after it briefly broke through the key psychological level of 6.7 to the dollar.

 On Wednesday it was trading around 6.66. China's gold reserves fell to USD 77.18 billion at the end of August, down from USD 78.89 billion at end-July, data on the People's Bank of China website showed.

Posted by

Dollar index eases off 1-1/2 week lows but gains capped Sep 07, 2016

Dollar index eases off 1-1/2 week lows but gains capped Sep 07, 2016,

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Dollar index eases off 1-1/2 week lows but gains capped

 The dollar eased off one-and-a-half week lows against the other major currencies on Wednesday, but gains were expected to remain limited as the previous session's downbeat U.S. data lowered expectations for a rate hike by the Federal Reserve this year even further.

 EUR/USD slipped 0.13% to 1.1240. Sentiment on the greenback remained vulnerable after the Institute of Supply Management said on Tuesday that its non-manufacturing purchasing manager's index fell to 51.4 last month from 55.5 in July.

Analysts had expected the index to drop to 55.0. The data came after downbeat U.S. employment data published last Friday crushed expectations for an upcoming rate hike by the Fed.

 Meanwhile, the single currency weakened as investors eyed the European Central Bank's upcoming meeting on Thursday, amid speculation over potential easing measures to boost growth. Earlier Wednesday, data showed that German industrial production declined by 1.5% in July, compared to expectations for an uptick 0.2% rise.

 Industrial production increased by 1.1% in June, whose figure was revised from a previously estimated 0.8% gain. GBP/USD declined 0.45% to 1.3379, off the previous session's one-and-a-half month high of 1.3446.

 The U.K. Office for National Statistics said on Wednesday that manufacturing production decreased by 0.9% in July, worse than expectations for a decline of 0.4%. On an annualized basis, manufacturing production rose 0.8% in July, worse than forecasts for a 1.7% increase.

 However, the report also showed that industrial production inched up by 0.1% in July, better than forecasts for a 0.2% decrease.

Year-on-year, industrial production increased 2.1% in July, above expectations for a 1.9% rise. USD/JPY slid 0.35% to 101.66, while USD/CHF dipped 0.03% to trade at 0.9695. The Australian dollar was weaker, with AUD/USD down 0.30% at 0.7665, while NZD/USD gained 0.63% to 0.7464.

The Australian Bureau of Statistics said gross domestic product rose 0.5% in the second quarter, disappointing expectations for an uptick of 0.6%. Year-on-year, Australia's GDP increased by 3.3% in the three months to June, compared to expectations for a 3.4% rise. Elsewhere, USD/CAD held steady at 1.2852, close to Tuesday's two-week trough of 1.2822.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, edged up 0.11% to 94.90, not far from the one-and-a-half week lows of 94.68 hit overnight.

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Forex - Aussie edges lower after GDP data, kiwi hits 16-month high

Forex - Aussie edges lower after GDP data, kiwi hits 16-month high

Forex - Aussie edges lower after GDP data, kiwi hits 16-month high


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The Australian dollar edged lower against its U.S. counterpart on Wednesday, weighed by the release of disappointing economic growth data from Australia, while the New Zealand dollar moved up to a 16-month high. AUD/USD slipped 0.10% to 0.7680, off the previous session's one-and-a-half week high of 0.7691.

The Australian Bureau of Statistics said gross domestic product rose 0.5% in the second quarter, disappointing expectations for an uptick of 0.6%. Australia's economy grew 1.0% in the first quarter, whose figure was revised from a previously estimated growth rate of 1.1%. Year-on-year, Australia's GDP increased by 3.3% in the three months to June, compared to expectations for a 3.4% rise.

NZD/USD rose 0.23% to trade at a 16-month high of 0.7434. Meanwhile, sentiment on the greenback remained vulnerable after the Institute of Supply Management said on Tuesday that its non-manufacturing purchasing manager's index fell to 51.4 last month from 55.5 in July.

 Analysts had expected the index to drop to 55.0. The data came after downbeat U.S. employment data published last Friday crushed expectations for an upcoming rate hike by the Federal Reserve.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was steady at 94.75, the lowest since August 26.

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Currency Technicals Calls, 6th Session: 7.Sep.2016

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 ( Paper Trading Practice for Currency Segment USDINR/EURINR/GBPINR/JPYINR ) 

 4.27 Pm : Buy USDINR (SEP) SA 66.66 SL 66.55 Target 66.76 / 66.84 / 66.92
4.27 Pm : Sell USDINR (SEP) SB 66.50 SL 66.61 Target 66.40 / 66.32 / 66.24
 USDINR (SEP) : INTRADAY TREND : DOWN SL : 66.65 

 4.27 Pm : Buy EURINR (SEP) SA 75.04 SL 74.93 Target 75.14 / 75.22 / 75.30
4.27 Pm : Sell EURINR (SEP) SB 74.88 SL 74.99 Target 74.78 / 74.70 / 74.62
 EURINR (SEP) : INTRADAY TREND : UP SL : 74.75 

 4.27 Pm : Buy GBPINR (SEP) SA 89.18 SL 89.07 Target 89.28 / 89.36 / 89.44
4.27 Pm : Sell GBPINR (SEP) SB 89.02 SL 89.13 Target 88.92 / 88.84 / 88.76
 GBPINR (SEP) : INTRADAY TREND : UP SL : 89.00 

 4.27 Pm : Buy JPYINR (SEP) SA 65.60 SL 65.49 Target 65.70 / 65.78 / 65.86
4.27 Pm : Sell JPYINR (SEP) SB 65.44 SL 65.55 Target 65.34 / 65.26 / 65.18
 JPYINR (SEP) : INTRADAY TREND : UP SL : 65.20 
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Forex Trading Calls, 5th Session: 7.Sep.2016

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 ( Paper Trading Practice for Currency Segment USDINR/EURINR/GBPINR/JPYINR ) 

 3.59 Pm : Buy USDINR (SEP) SA 66.67 SL 66.56 Target 66.77 / 66.85 / 66.93
3.59 Pm : Sell USDINR (SEP) SB 66.51 SL 66.62 Target 66.41 / 66.33 / 66.25
 USDINR (SEP) : INTRADAY TREND : DOWN SL : 66.65 

 3.59 Pm : Buy EURINR (SEP) SA 75.04 SL 74.93 Target 75.14 / 75.22 / 75.30
3.59 Pm : Sell EURINR (SEP) SB 74.88 SL 74.99 Target 74.78 / 74.70 / 74.62
 EURINR (SEP) : INTRADAY TREND : UP SL : 74.75 

 3.59 Pm : Buy GBPINR (SEP) SA 89.12 SL 89.01 Target 89.22 / 89.30 / 89.38
3.59 Pm : Sell GBPINR (SEP) SB 88.96 SL 89.07 Target 88.86 / 88.78 / 88.70
 GBPINR (SEP) : INTRADAY TREND : UP SL : 89.00 

 3.59 Pm : Buy JPYINR (SEP) SA 65.65 SL 65.54 Target 65.75 / 65.83 / 65.91
3.59 Pm : Sell JPYINR (SEP) SB 65.49 SL 65.60 Target 65.39 / 65.31 / 65.23
 JPYINR (SEP) : INTRADAY TREND : UP SL : 65.20 
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Eurinr Intraday Calls, 4th Session: 7.Sep.2016

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 ( Paper Trading Practice for Currency Segment USDINR/EURINR/GBPINR/JPYINR ) 

 2.54 Pm : Buy USDINR (SEP) SA 66.68 SL 66.57 Target 66.78 / 66.86 / 66.94
2.54 Pm : Sell USDINR (SEP) SB 66.52 SL 66.63 Target 66.42 / 66.34 / 66.26
 USDINR (SEP) : INTRADAY TREND : DOWN SL : 66.65 

 2.54 Pm : Buy EURINR (SEP) SA 75.00 SL 74.89 Target 75.10 / 75.18 / 75.26
2.54 Pm : Sell EURINR (SEP) SB 74.84 SL 74.95 Target 74.74 / 74.66 / 74.58
 EURINR (SEP) : INTRADAY TREND : UP SL : 74.75 

 2.54 Pm : Buy GBPINR (SEP) SA 89.13 SL 89.02 Target 89.23 / 89.31 / 89.39
2.54 Pm : Sell GBPINR (SEP) SB 88.97 SL 89.08 Target 88.87 / 88.79 / 88.71
 GBPINR (SEP) : INTRADAY TREND : UP SL : 89.00 

 2.54 Pm : Buy JPYINR (SEP) SA 65.59 SL 65.48 Target 65.69 / 65.77 / 65.85
2.54 Pm : Sell JPYINR (SEP) SB 65.43 SL 65.54 Target 65.33 / 65.25 / 65.17
 JPYINR (SEP) : INTRADAY TREND : UP SL : 65.10 
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RBI REFERENCE RATE FOR INDIAN CURRENCY TODAY: 7.Sep.2016

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RBI REFERENCE RATE

As on 7.Sep.2016 at 12.00Pm Hrs(IST)

USDINR : 66.3618
EURINR : 74.6902
GBPINR : 89.0376
JPYINR  : 65.4600
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Hot Currency Calls, 3rd Session: 7.Sep.2016

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 ( Paper Trading Practice for Currency Segment USDINR/EURINR/GBPINR/JPYINR ) 

 1.20 Pm : Buy USDINR (SEP) SA 66.66 SL 66.55 Target 66.76 / 66.84 / 66.92
1.20 Pm : Sell USDINR (SEP) SB 66.50 SL 66.61 Target 66.40 / 66.32 / 66.24
 USDINR (SEP) : INTRADAY TREND : DOWN SL : 66.65 

 1.20 Pm : Buy EURINR (SEP) SA 75.00 SL 74.89 Target 75.10 / 75.18 / 75.26
1.20 Pm : Sell EURINR (SEP) SB 74.84 SL 74.95 Target 74.74 / 74.66 / 74.58
 EURINR (SEP) : INTRADAY TREND : UP SL : 74.75 

 1.20 Pm : Buy GBPINR (SEP) SA 89.32 SL 89.21 Target 89.42 / 89.50 / 89.58
1.20 Pm : Sell GBPINR (SEP) SB 89.16 SL 89.27 Target 89.06 / 88.98 / 88.90
 GBPINR (SEP) : INTRADAY TREND : UP SL : 89.00 

 1.20 Pm : Buy JPYINR (SEP) SA 65.64 SL 65.53 Target 65.74 / 65.82 / 65.90
1.20 Pm : Sell JPYINR (SEP) SB 65.48 SL 65.59 Target 65.38 / 65.30 / 65.22
 JPYINR (SEP) : INTRADAY TREND : UP SL : 65.10 

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