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Trifid Research provide Daily Recommendations on Currency tips, Forex Tips & Usdinr Tips.
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17 NOV- 21 NOV 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) 61.6475
REPO RATE 8%
REVERSE REPO 7%
CRR 4%
INFLATION 1.77%
KEY RATES As on 14/11/2014
MARKET EVENTS MARKET OUTLOOK
Indian Rupee tracked a continued
resurgence in dollar globally and
witnessed biggest single day fall on
Friday in last week despite strong
foreign buying which continued to
lift domestic share markets to record
highs and also positive domestic data
of IIP, CPI & WPI. It was third
consecutive weekly fall around 0.1
percent. It hit its lowest level nearly
a month on Friday’s session later half
weighed down by dollar demand
from state-run banks and sharp gains
in the greenback versus major
currencies. The index of the dollar
against six major currencies was up
0.25 percent.
Rupee sees biggest fall in a
week on broad dollar rise.
China's Yuan inches lower on
corporate dollar demand little
changed on week.
Dollar gets lift from strong US
retail data, yen decline.
Sterling hits 14-month low vs
dollar, UK-US yield gap
narrows.
CURRENCIES PREVIOUS
RATE
CURRENT
RATE % CHANGE
USDINR 61.8525 61.8650 0.02
EURINR 76.7175 77.0950 0.49
GBPINR 97.8650 96.9825 -0.90
JPYINR 53.7550 53.1800 -1.06
91
USDINR
EURINR
USDINR last week also moved in the same range as of previous week and was found strong
support around 61.5400 and strong pull back was seen on last trading session towards 62.0000
mark. If it holds above 62.0000 then next major resistance range is seen 62.3000. While, on lower
side 61.5400 is still seen as crucial support for the week.
EURINR last week consolidated in the same range as of previous week but closed on a flat note
with positive bias. On daily charts, it may face resistance around the trend line i.e. near 77.4000
above which it may lead towards 77.70000-78.0000. While, if it continues the bearish trend then
immediate support range is seen around 76.6000-76.3000.
CURRENCIES S1 S2 S3 R1 R2 R3 USDINR 61.5000
61.2000 60.9000 62.2000 62.5000 62.9000
EURINR 76.6000 76.3000 75.9000 77.4000 77.7000 78.2000
GBPINR 96.6000 96.2000 95.8000 97.6000 98.0000
98.4000
JPYINR 52.8000 52.4000 52.0000 53.6000
54.0000 54.4000
PIVOT TABLE
DATE TIME COUNTRY EVENT BLOOMBERG
ESTIMATE
PREVIOUS
LEVEL
18-NOV-2014 8:00
PM US PPI m/m -0.1% -0.1%
19-NOV-2014 8:00
PM US Building Permits 1.04 M 1.02M
20-NOV-2014 1:30
AM US
FOMC Meeting
Minutes _ _
20-NOV-2014 8:00
PM US
Unemployment
Claims 286K 290K
INTERNATIONAL UPDATES
Brazil’s Real Drops to Nine-Year Low as Petrobras Delays
Report.
Pound Declines for Fourth Week amid Euro-Area Deflation
Concern.
Yen Falls to 7-Year Low on Election-Stimulus Speculation.
WWW.TRIFIDRESEARCH.COM
DISCLAIMER