Forex report 12 july 2013


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Forex report 12 july 2013

  1. 1. 9977785000 DAILY FOREX REPORT RESEARCH VIA 12/7/2013
  2. 2. MARKET HEADLINES  Rupee up 24 paise vs US dollar in early trade The rupee today rose by 24 paise to 59.41 in early trade at the Interbank Foreign Exchange market as the dollar weakened against other major rivals overseas after US Federal Reserve Chairman Ben Bernanke said its huge stimulus programme would stay in place for some time.The rupee had gained 49 paise, the most since June 28, to close at 59.65 against dollar in yesterday's trade, after the RBI and Sebi took steps to curb volatility.Meanwhile, the BSE benchmark Sensex rose by 290.26 points, or 1.50 per cent, to 19,584.38 in early trade today.  Dollar tumbles after dovish Bernanke trip up bulls The dollar tumbled on Thursday after dovish comments from Federal Reserve Chairman Ben Bernanke forced traders to trim their long positions on the greenback, as markets reassessed expectations that the Fed would start to reduce stimulus as early as September. Bernanke's comment came during early Asian trading hours, when market liquidity is at its lowest, promoting a rapid barrage of stop-loss selling of the dollar, possibly exaggerating price action, traders said. The euro roared to a three-week high of $1.32085 at one stage, up more than 3 per cent from Wednesday's low of $1.2765. It easily spiked above $1.3010, the 38.2 per cent retracement of its June-July fall, then $1.3167, the 61.8 per cent level. The euro last traded at $1.3090, up 0.9 per cent on the day. The dollar also fell against the yen, dropping to a two-week low of 98.20 yen, though it held above a key support from the cloud bottom on the daily Ichimoku charts at 98.155.
  3. 3. DAILY MARKET STATISTICS CURRENCY EXPIRY OPEN HIGH LOW CLOSE EURINR 29-Jul-13 77.7000 78.3500 77.7000 78.1975 EURINR 28-Aug-13 77.8000 78.6050 77.8000 78.4175 EURINR 26-Sep-13 78.0125 78.7250 78.0125 78.7000 GBPINR 29-Jul-13 89.6500 90.7825 89.6500 90.5100 GBPINR 28-Aug-13 89.9000 91.0000 88.9600 90.7425 JPYINR 29-Jul-13 60.0225 60.6425 60.0225 60.3350 JPYINR 28-Aug-13 60.3000 60.8525 60.3000 60.5250 USDINR 29-Jul-13 59.8425 60.0925 59.4300 59.8925 USDINR 28-Aug-13 59.9025 60.3000 59.6700 60.0800 USDINR 26-Sep-13 60.0000 60.4900 59.8850 60.2650 RBI REFERENCE RATE (As on 11TH JUNE 2013) UNDERLYING RATE USDINR 59.6420 EURINR 77.9850 GBPINR 90.1370 JPYINR 60.4000
  4. 4. USDINR DAILY ANALYSIS  S1-59.3175  S2-59.0425  PP-59.7050  R1-59.9800  R2-60.3675 PIVOT POINTS
  5. 5. EURINR DAILY ANALYSIS  S1- 77.8150  S2-77.4325  PP-78.0825  R1-78.4650  R2-78.7325 PIVOT POINTS
  6. 6. GBPINR DAILY ANALYSIS  S1-89.8458  S2-89.1817  PP-90.3142  R1-90.9783  R2-91.4467 PIVOT POINTS
  7. 7. 54.9950 JPYINR DAILY ANALYSIS  S1- 60.0242  S2- 59.7133  PP-60.3333  R1- 60.6442  R2- 60.9533 PIVOT POINTS
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