Forex report 16 may 2013


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Forex report 16 may 2013

  1. 1. 9977785000DAILY FOREXREPORTRESEARCH VIA5/16/2013
  2. 2. MARKET HEADLINES Rupee stuck in range as strong shares offset weakeuroThe rupee was trading at 54.80/81 versus its close of 54.81/82 asgains in the domestic share market are offset by the euros lossesversus the dollar. The share market was trading up 2 per cent on day,after the RBI governor said he had taken note of the falling inflation,reinforcing bets about future rate cuts. The index of the dollar againstsix majors is trading up 0.3 per cent after weak German data.The euro fell to a six-week low against a buoyant dollar onWednesday, hurt by worse-than-expected German and French grossdomestic product (GDP) data, which kept alive chances of moremonetary easing by the European Central Bank. Sterling falls to 6-week low versus dollarSterling fell to a six-week low against a firmer dollar on Wednesday,with investors cautious before UK labour market data and the Bankof Englands quarterly Inflation Report.The pound fell 0.1 percent on the day to $1.5192, breaking belowreported stop loss sell orders through $1.5200 to mark its lowest sinceearly April. Traders reported bids from $1.5190 down to $1.5160. Swiss franc sets fresh 9 month low vs dollarThe Swiss franc was steady against the dollar on Wednesday afterhitting its lowest level since August 21 in early trading, with thegreenbacks strength bolstered by signs of a firm recovery in the U.S.economy and rising Treasury yields."The market has eroded the 1.2475/76 Fibonacci retracement(78.6 percent retracement). This was the last defence for the 1.25732013 high," said Commerzbank analysts in a note.The franc was steady against the dollar compared to the New Yorkclose, trading at 0.9669 franc per dollar by 0652 GMT. The franc rose0.1 percent to 1.2480 against the euro.
  3. 3. DAILY MARKET STATISTICSCURRENCY EXPIRY OPEN HIGH LOW CLOSEEURINR 29-May-2013 71.0950 71.1400 70.6675 70.7000EURINR 26-Jun-2013 71.3875 71.4000 70.9400 70.9725EURINR 29-Jul-2013 71.5600 71.6075 71.2500 71.2825GBPINR 29-May-2013 83.6500 83.8375 83.3750 83.6075GBPINR 26-Jun-2013 84.0200 84.1425 83.7000 83.9350JPYINR 29-May-2013 54.1625 54.1625 53.5450 53.5750JPYINR 26-Jun-2013 54.1575 54.1600 53.7925 53.8125USDINR 29-May-2013 54.9000 55.0400 54.7750 54.9675USDINR 26-Jun-2013 55.1725 55.2500 54.9850 55.1700USDINR 29-Jul-2013 55.4600 55.5125 55.2500 55.4400RBI REFERENCE RATE(As on 15THMAY 2013)UNDERLYING RATEUSDINR 54.7835EURINR 70.7189GBPINR 83.3805JPYINR 53.5500
  4. 4. USDINR DAILY ANALYSIS S1-54.8150 S2-54.6625 PP-54.9275 R1-55.0800 R2-55.1925PIVOT POINTS
  5. 5. EURINR DAILY ANALYSIS S1- 70.5225 S2-70.3450 PP-70.8450 R1-71.0225 R2-71.3450PIVOT POINTS
  6. 6. GBPINR DAILY ANALYSIS S1-83.3825 S2-83.1575 PP-83.6100 R1-83.8350 R2-84.0625PIVOT POINTS
  7. 7. 54.9950JPYINR DAILY ANALYSIS S1- 53.4450 S2- 53.3150 PP-53.6750 R1- 53.8050 R2- 54.0350PIVOT POINTS
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