PhillipCapital. Currency Report DAILY REPORT. Page 1 of 6. November 5, Open High Low Close % Cng OI USDINR EURINR GBPINR JPYINR

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1 PhillipCapital Currency Report Open High Low Close % Cng OI USDINR Nov Dec Jan Feb Mar EURINR Nov Dec GBPINR Dec JPYINR Nov Dec International Currencies EURUSD GBPUSD USDJPY CANADIAN HK $ DANISH RMB ROUBLE THAI BAHT DIRHAM Global Market Indices Close % Cng Indices Close % Cng BSE Dow Jones Nifty Nasdaq Nikkei S&P HangSeng Bovespa Straits CAC Shanghai DAX Jakarta FTSE Apr-15 FII's DII's Source - NSE Trading activity on NSE and BSE in Capital Market Segment (In Rs. Crores) Buy Value Sell Value Net Value 3, , , , RBI Reference Rate USDINR EURINR GBPINR JPYINR Page 1 of 6

2 PhillipCapital - Currency - USDINR Rupee seen supported on sustained bouts of dollar selling by banks and exporters. NSE-CUR USDINR Nov 2015 Open High Low Close Re Cng % Cng Volume OI Res 3 Res 2 Res 1 P. Point Sup 1 Sup 2 Sup 3 Trend Trading Levels Positive Outlook Rupee seen supported on sustained bouts of dollar selling by banks and exporters. India's services industry expanded at its fastest pace in eight months in October as new business rose with discounting probably stoking demand, a survey showed. The survey results are likely to provide some comfort to policymakers after a sister survey showed India's manufacturing growth cooled to a 22-month low in October. The Nikkei/Markit Services Purchasing Managers' Index rose to 53.2 in October from September's 51.3, marking a fourth month above the 50-level that separates growth from contraction. Growth was underpinned by a surge in new business, which hit its highest since February. But the improved activity came as firms cut prices again in October - the second month in a row companies have had to resort to discounting to drum up new business. India's private sector activity expanded strongly in October, driven by the growth in service sector, while expansion of manufacturing production faded, survey figures from Nikkei and Markit Economics showed. Investors now look forward to the Non-Farm Payroll data due this week coupled with comments from Federal Reserve Chair Yellen, Vice Chair Fischer and Fed President Dudley which will give fresh direction towards the Federal Reserve's timing of a lift-off. Technically market is under long liquidation as market has witnessed drop in open interest by -0.15% to settled at while prices down rupee, now USDINR is getting support at and below same could see a test of level, And resistance is now likely to be seen at 65.86, a move above could see prices testing Chart for the Day Daily Market Synopsis USDINR trading range for the day is Rupee seen supported on sustained bouts of dollar selling by banks and exporters. India Oct services industry PMI at 8-mth high on boost from new business RBI says gov't surplus cash balance with RBI for auction was B rupees as of Nov 3 BUY SL TGT Page 2 of 6

3 PhillipCapital - Currency - EURINR Euro dropped as currency traders await the release of a critical U.S. jobs report later this week for further hints from Fed. NSE-CUR EURINR Nov 2015 Open High Low Close Re Cng % Cng Volume OI Res 3 Res 2 Res 1 P. Point Sup 1 Sup 2 Sup 3 Trend Trading Levels Positive Outlook Euro dropped as currency traders await the release of a critical U.S. jobs report later this week for further hints whether the Federal Reserve could raise short-term interest rates before the end of the year. Eurozone's private sector economy expanded slightly less than initially estimated in October, final data from Markit showed. The final composite output index came in at 53.9 in October, marginally below the flash score of 54 but above September's The composite indicator signaled growth for the twenty-eighth successive month. Spain's service sector growth accelerated more-than-expected in October, survey figures from Markit Economics showed. The seasonally adjusted Business Activity Index rose to 55.9 in October from September's nine-month low of Moreover, the activity has now grew on a monthly basis throughout the past two years. Elsewhere, European Central Bank president Mario Draghi continued to send strong indications that the ECB could extend the scope of its comprehensive asset-purchasing program when the Governing Council meets next in December. When the ECB's Governing Council last met in October, Draghi noted that the central bank could ramp up the bond buying program and further lower interest rates as a means for boosting inflation. "Those asset purchases are proceeding smoothly and continue to have a favorable impact on the cost and availability of credit for firms and households," Draghi said at a reception for the Opening of the European Cultural Days in Frankfurt. Technically now EURINR is getting support at and below same could see a test of level, And resistance is now likely to be seen at , a move above could see prices testing Chart for the Day Daily Market Synopsis EURINR trading range for the day is Euro dropped as currency traders await the release of a critical U.S. jobs report later this week for further hints from Fed. Eurozone's private sector economy expanded slightly less than initially estimated in October, final data from Markit showed. Spain's service sector growth accelerated more-than-expected in October, survey figures from Markit Economics showed. SELL EURINR BELOW SL TGT Page 3 of 6

4 PhillipCapital - Currency - GBPINR GBP recovered from lows following the latest economic report on the services sector from Markit Economics, which surprised on the upside. Open High Low Close Re Cng % Cng Volume OI Res 3 Res 2 Res 1 P. Point Sup 1 Sup 2 Sup 3 Trend NSE-CUR GBPINR Trading Levels Positive Outlook GBP recovered from lows following the latest economic report on the services sector from Markit Economics, which surprised on the upside. Markit Economics reported the services PMI for the UK at 54.9 points in October, beating estimates of 54.5 points. The National Institute of Economic and Social Research lowered its U.K. growth projections and expects the Bank of England to raise interest rates at the start of next year. The think tank downgraded growth forecast for this year to 2.4 percent from 2.5 percent and that for next year to 2.3 percent from 2.4 percent. For 2017, it estimated 2.6 percent expansion. The U.K. construction sector continued to grow at a solid pace in October, helped by the fastest rise in new work in a year, signaling a bounce back in the final three months of the year. The Markit/CIPS UK Construction Purchasing Managers' Index fell to 58.8 in October from 59.9 in September, survey data from Markit Economics and the Chartered Institute of Procurement & Supply showed. The reading reflected marked two-and-a-half years of sustained output growth across the UK construction sector, Markit said. "Super Thursday" has become a quarterly focus for UK markets, with the simultaneous release of the Bank of England's latest quarterly Inflation Report as well as an interest rate decision and the minutes from its latest Monetary Policy Committee (MPC) meeting. Technically market is under fresh selling as market has witnessed gain in open interest by 0.16% to settled at 33453, now GBPINR is getting support at and below same could see a test of level, And resistance is now likely to be seen at , a move above could see prices testing Chart for the Day Daily Market Synopsis GBPINR trading range for the day is GBP recovered from lows following the latest economic report on the services sector from Markit Economics, which surprised on the upside. Markit Economics reported the services PMI for the UK at 54.9 points in October, beating estimates of 54.5 points. The NIESR lowered its U.K. growth projections and expects the Bank of England to raise interest rates at the start of next year. SELL GBPINR BELOW SL TGT Page 4 of 6

5 PhillipCapital - Economical Data ECONOMICAL DATA DAY TIME CURRENCY DATA Forecast Previous 12:30pm EUR German Factory Orders m/m :30pm EUR ECB Economic Bulletin 2:40pm EUR Retail PMI :30pm EUR EU Economic Forecasts 3:30pm EUR Retail Sales m/m Tentative EUR Spanish 10-y Bond Auction Thu Tentative EUR French 10-y Bond Auction :00pm USD Challenger Job Cuts y/y.932 7:00pm USD Unemployment Claims 263K 260K 7:00pm USD FOMC Member Dudley Speaks 7:00pm USD Prelim Nonfarm Productivity q/q :00pm USD Prelim Unit Labor Costs q/q :40pm USD FOMC Member Fischer Speaks NEWS YOU CAN USE India's services industry expanded at its fastest pace in eight months in October as new business rose with discounting probably stoking demand, a survey showed. The survey results are likely to provide some comfort to policymakers after a sister survey on Monday showed India's manufacturing growth cooled to a 22-month low in October. The Nikkei/Markit Services Purchasing Managers' Index rose to 53.2 in October from September's 51.3, marking a fourth month above the 50-level that separates growth from contraction. Growth was underpinned by a surge in new business, which hit its highest since February. But the improved activity came as firms cut prices again in October - the second month in a row companies have had to resort to discounting to drum up new business. A sub-index measuring prices charged was 49.6, just marginally higher than the previous month's The last time firms reported cutting prices in consecutive months was in early 2009, when overall business activity was below-50 levels. The Reserve Bank of India, however, is not expected to ease policy anytime soon after it cut the benchmark lending rate four times since January, most recently in September, in an effort to boost growth. India's private sector activity expanded strongly in October, driven by the growth in service sector, while expansion of manufacturing production faded, survey figures from Nikkei and Markit Economics showed. The seasonally adjusted Nikkei Composite Output Index rose to 52.6 in October from 51.5 in the previous month. Any reading above 50 indicates expansion in the sector. Moreover, the latest rate of increase was the joint-fastest since March. The Services Business Activity Index climbed to an eight-month high of 53.2 in October from 51.3 in September. New business inflows received by the Indian service sector grew at the fastest pace since February on improving demand conditions. Manufacturing new orders also rose, albeit at the weakest pace in the current 24- month sequence of expansion. Employment level in the service sector showed no variations in October. Meanwhile, goods producers signalled higher staffing numbers, but the rate of job creation was only marginal. On the price front, input prices climbed in October amid report of higher prices paid for petrol and food. Input costs at manufacturers rose for the first time in three months in October. India continues to lead the global confidence index for the third quarter, according to a Nielsen survey. While more than half of respondents (54 percent) said that they feel India is still in economic recession, 67 percent as against 61 percent last quarter indicated that India will be out of the recession over the next 12 months. India leads the global confidence index at 131 points the same position and rating as last quarter riding on high discretionary spends. India is followed by United States (119), Philippines (117) and Indonesia (116). The Nielsen Consumer Confidence Index measures perceptions of local job prospects, personal finances and immediate spending intentions among more than 30,000 respondents with Internet access in 60 countries. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism, respectively. In the latest online survey, fielded between Aug 10 and Sept 4, 2015, over four in five (81 percent) urban Indian respondents indicated the highest level of optimism globally on job prospects in the next 12 months. Page 5 of 6

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