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SMC Global Currency Daily Report

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This report updates the major global events that can affect currency markets in a day trading. It also contains major news related to global currency market and economies. …

This report updates the major global events that can affect currency markets in a day trading. It also contains major news related to global currency market and economies.
On technical part it contains major support and resistance levels along with expected trading direction for intraday purpose. Moreover, international currency pairs are also included in the report to take an idea and to gauge the direction of the market and its impact on local currency pairs.

Published in: Economy & Finance, Business

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  • 1. 411983 lladollatop 10/06/2014 CURRENCY OUTLOOK FOR THE DAY Currency Rate* Trend Support Resistance Dollar Index 80.61 SIDEWAYS 80.36/80.14 80.95/81.18 EUR/USD 1.3590 SIDEWAYS TO DOWN 1.3549/1.3520 1.3623/1.3652 USD/JPY 102.53 SIDEWAYS 102.31/102.06 102.97/103.22 GBP/USD 1.6808 SIDEWAYS 1.6778/1.6745 1.6859/1.6890 USD/INR (June) 59.38 UP 59.20/59.00 59.50/59.70 EUR/INR (June) 80.76 SIDEWAYS 80.50/80.35 81.00/81.20 JPY/INR (June) 58.04 SIDEWAYS TO UP 57.85/57.60 58.30/58.65 GBP/INR (June) 99.82 UP 99.60/99.35 100.00/100.40 BOND FUTURES (INTEREST RATE FUTURES) OUTLOOK FOR THE DAY 883GS2023 Futures 101.73 SIDEWAYS 101.60/101.50 101.90/102.05 Note: The above levels are only for intraday trading. Today’s Major Economic Releases Time (IST) Currency Event Forecast Previous Adverse/Favourable/Neutral 14:30 EUR EUR Italian Gross Domestic Product s.a. and w.d.a. (QoQ) -0.10% -0.10% Neutral 14:30 EUR EUR Italian Gross Domestic Product s.a. and w.d.a. (YoY) -0.50% -0.50% Neutral
  • 2. Major Market Update *For commodities and Currency queries during market hrs (9:00 AM- 11:30 PM) Contact: 011-25754373.; Ext: 436; 437. Direct Line- 9650507651 Disclaimer: - This report is for personal information of the authorized recipient and doesn’t construe to be any investment, legal or taxation advice to you. It is only for private circulation and use. The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such. No action is solicited on the basis of the contents of the report. The report should not be reproduced or redistributed to any other person(s) in any form without prior written permission of SMC. The contents of this material are general and are neither comprehensive nor inclusive. Neither SMC nor any of its affiliates, associates, representatives, directors or employees assume any responsibility for any loss or damage that may arise to any person due to any trading/action taken on the basis of this report. It does not constitute personal recommendations or take into account the particular investment objectives, financial situations or needs of an individual client or a corporate/s or any entity/s. All investments involve risk and past performance doesn’t guarantee future results. The value of, and income from investments may vary because of the changes in the macro and micro factors given at a certain period of time. The person should use his/her own investigations and judgment while taking any positions or investment decisions. Please note that we and our affiliates, officers, directors, and employees, including persons involved in the preparation or issuance if this material;(a) from time to time, may have long or short positions in, and buy or sell the currencies thereof, mentioned here in or (b) be engaged in any other transaction involving such currencies and earn brokerage or other compensation (c) may have any other potential conflict of interest with respect to any recommendation and related information and opinions. All disputes shall be subject to the exclusive jurisdiction of courts at Delhi. China’s inflation accelerated in May to the fastest pace in four months on food costs, while a decline in factory-gate prices moderated. A gauge of expected price swings in the dollar versus the yen remained near a record low as traders awaited this week’s data on U.S. consumer spending and a policy decision from the Bank of Japan. The won climbed to the highest level in almost six years as global funds increased their holdings of South Korean equities and on speculation exporters sold dollars. Rupee edges down on RBI's intervention despite record shares Shares surged on Monday to record highs as blue chips continued to rally on hopes of wide- ranging reforms by the new Narendra Modi government. The euro fell for a second day versus the dollar as a report showed investor confidence declined and as record-low foreign-exchange volatility boosted demand for higher-yielding assets. Mexico’s peso dropped to a one-month low as last week’s unexpected cut in interest rates made the currency less attractive to international investors. Volatility in global commodities, currencies, stocks and rates dropped to a record as the world’s biggest central banks pumped financial markets with liquidity to help stimulate growth amid low inflation.