Currency Highlights

08th Nov’2017

SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds

Close Prev Cls. Price Chg Price Chg %

Doller Index 94.94 94.63 0.31 0.33

USD/INR (Spot) 65.04 64.59 0.45 0.70

USD/INR (Nse Nov) 65.2 64.85 0.35 0.54

EUR/INR (Spot) 75.28 75.04 0.24 0.32

EUR/INR (Nse Nov) 75.46 75.34 0.12 0.16

GBP/INR (Spot) 85.46 85.08 0.38 0.45

GBP/INR (Nse Nov) 85.75 85.11 0.64 0.75

JPY/INR (Nse Nov) 57.14 56.92 0.22 0.39

Market Highlights

Japanese wages fell 0.1 percent in September from a year earlier after adjustment for inflation, down for the fourth straight

month, suggesting consumer inflation could take a hit as salaries fail to keep pace with rising prices. The decline, announced

by the labor ministry on Tuesday, comes despite persistent calls by the government for companies to boost salaries to help

drive economic activity.

The Reserve Bank of Australia on Tuesday held its benchmark cash rate at 1.50% as expected, signaling it is watching the

housing market closely and that a higher Australian dollar is restraining price pressures.

British retail spending fell last month at the fastest pace for any October since 2008 as consumers curbed purchases of

non-food goods in the face of rising inflation, a survey showed on Tuesday. Retail sales values slid by an annual 1.0 percent

on a like-for-like basis, which strips out changes in store size, the British Retail Consortium (BRC) said, compared with a 1.9

percent rise in September.

Australian's already anaemic inflation rate looks set to be revised lower as changing spending habits by consumers are taken

into account, further pushing out the day when interest rates might rise from record lows. A five-year update of household

spending patterns issued on Monday by the Australian Bureau of Statistics (ABS) implied the consumer price index (CPI) was

overstating inflation by around 0.22 percentage points.

North American commercial property insurance rates could rise by as much as 25 percent during 2018 for properties that

suffered catastrophe losses this year, according to a report on Monday by insurance brokerage Willis Towers Watson

(N:WTW).

Highlights:

The dollar held onto gains against other major currencies on Tuesday,

as growing expectations for an upcoming U.S. rate hike continued to

support demand for the greenback and investors continued to

monitor progress on a U.S. tax bill.

The dollar pushed higher against a basket of the other major

currencies on Tuesday as investors continued to monitor the progress

of the U.S. tax bill, while the euro fell to the lowest level in three

months.

The Aussie posted a mild rebound as the central bank held rates

steady and pointed to wages and house prices as areas of focus as

investors look ahead to remarks fby President Donald Trump in South

Korea. The Reserve Bank of Australia released its latest interest rate

decision and held its benchmark cash rate at 1.50% as expected,

signaling it is watching the housing market closely and that a higher

Australian dollar is restraining price pressures.

Technical View:

On the daily chart, JPYINR has been traded in a range-bound movement; on the lower end price has found support at the lower band of the channel.

Moreover, price has fallen significantly below the 50 SMA; historically price has tendency to converge with 50 SMA, shortly after the divergence.

In addition, momentum indicator RSI (14) has shown positive crossover which suggests recovery in the price going forward.

For now, we expect price to move up towards 58.50 levels in the coming trading sessions.

Pivot levels for the Day

Technical View:

On the daily chart, USDINR gave breakout above the falling channel; recently has completed retesting of the breakout zone.

Moreover, 50 SMA and 100 SMA are in bullish crossover which is expected to provide positive breadth to the pair price.

Momentum indicator RSI (14) has shown positive crossover.

On the basis of above technical structure, we expect prices should move higher towards 66.00 levels in the coming trading sessions.

Currency Highlights

08th Nov’2017

USDINR JPYINR

SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds

S3 S2 S1 Pivot R1 R2 R3

USDINR 64.12 64.59 64.90 65.06 65.37 65.53 66

JPYINR 56.68 56.83 56.98 57.08 57.23 57.33 57.58

Pivot levels for the Day

Currency Highlights

08th Nov’2017

GBPINR EURINR

Technical View:

On the daily chart, the price has found support at the lower band of the falling channel.

Moreover, price has been finding support at its 100 SMA, which indicates bearish movement in the price.

In addition, RSI (14) has found support at the oversold zone on the daily chart.

For now, we can expect prices to recover towards the 76.50 levels in the coming trading sessions.

Technical View:

On the daily chart, the pair has been trading in the upward channel pattern which is a bullish set up.

Moreover, price is observed to have found support around 100 SMA.

Furthermore, 50, 100 and 200 SMAs are in bullish crossover.

In addition, momentum indicator RSI (14) is in bullish crossover and rising.

For now, we expect prices to move higher towards 87.00 levels in the coming trading sessions.

SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds

S3 S2 S1 Pivot R1 R2 R3

EURINR 74.89 75.17 75.31 75.45 75.59 75.73 76.01

GBPINR 83.50 84.27 84.28 85.0 85.50 86.20 86.60

Currency Highlights

SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds

08th Nov’2017

Economic Indicators

Date Time Data Prior Expected Impact

Currency Highlights 08

th Nov’2017

SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds

Kkunal Parar

Sr. Research Associate

Kkunal.parar@choiceindia.com

for December delivery on the Comex division

of the New York Mercantile Exchange dipped

0.27% to $1,248.30 a troy ounce. Demand from

Ankur Lakhotia

Sr. Research Associate

ankur.lakhotia@choiceindia.com

Rupak De

Research Associate

rupak.de@choiceindia.com

Sachin Gupta

Research Associate

sachin.gupta@choiceindia.com