WEEKLY FOREX REPORT BY EPIC RESEARCH-30 APRIL 2012

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WEEKLY FOREX REPORT BY EPIC RESEARCH-30 APRIL 2012

  1. 1. weekly Forex Report (30 APR 2012)Weekly News  Indian rupee falls for 4th week; bearish bets pile up.  Dollar ends week on a down note post US GDP data.  Pound hits 2-1/2 yr high vs currencies on euro fear.  Euro pares losses after smooth Italy debt sale.Weekly trends of the market  The euro recouped losses on Friday after a smooth Italian bond auction eased concerns over peripheral euro zone debt markets and offset jitters sparked by a downgrade of Spains sovereign debt and dismal Spanish economic data. Standard & Poors cut Spains credit rating to BBB-plus from A late on Thursday and gave it a negative outlook, warning it expects the governments budget deficit to deteriorate even more than previously thought due to economic contraction. Spanish data released Friday highlighted the extent of economic weakness in the highly indebted country, with nearly a quarter of the nations workforce unemployed and retail sales falling for the 21st consecutive month.  The Indian rupee posted a fourth consecutive week of falls after ending flat on Friday, as investors add more bearish bets on a local currency that is pricing in deep uncertainties about the countrys economic and fiscal challenges. Those challenges were most recently highlighted by Standard & Poors, which downgraded Indias outlook to negative this week, in the latest negative development impacting the currency. The weakening rupee has led to talk of potential intervention from the central bank, but traders believe that is unlikely given the countrys modest foreign exchange reserves and tight liquidity conditions.
  2. 2. www.epicresearch.co +919993959693 WEEKLY CHARTS USD/INR EUR/INR www.epicresearch.co +919993959693
  3. 3. www.epicresearch.co +919993959693 GBP/INR JPY/INR www.epicresearch.co +919993959693
  4. 4. www.epicresearch.co +919993959693 Disclaimer The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE. The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for . Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved. Investment in equity & bullion market has its own risks. We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above epic research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken. www.epicresearch.co +919993959693

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