Forex report 17 may 2013

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Forex report 17 may 2013

  1. 1. www.researchvia.com 9977785000DAILY FOREXREPORTRESEARCH VIA5/17/2013
  2. 2. MARKET HEADLINES Rupee edges down against dollar; down 7 paiseThe rupee edged down to 54.85/86 versus its close of 54.78/79,tracking the euros losses versus the dollar and a choppy domesticshare market.The dollar held close to a 4-1/2 year high against the yen with buyingfrom Japanese importers helping it to recoup some of the lossessuffered after disappointing US industrial data, while the eurowobbled near a six-week low.Domestic shares up 0.2 per cent, but some choppiness seen on profit-taking after the recent rally on the back of expectations for a rate cut. Sterling falls against dollar, risks to UK growthweighSterling was heading towards six-week lows against the dollar onThursday as investors sold the pound on concerns that a deepeningrecession in the euro zone would be a drag on the British economy.The Bank of England (BoE) raised its growth forecasts on Wednesday,but Governor Mervyn King said there were challenges ahead given theproblems in the euro zone. Separate data showed the euro zoneeconomy had shrunk for a sixth straight quarter.Sterling was down 0.2 percent on the day at $1.5202, not far from asix-week low of $1.5173 struck on Wednesday. Traders cited optionexpiries at $1.5200 that could keep the currency pinned around thatlevel. Yuan ends down for second day, but capital inflowsimply near-term strengthChinas yuan closed slightly lower on Thursday for the second day onthe back of an overnight rally in the dollar in global markets.But the yuan is likely to retain its recent strength as central bank datashowed capital continued to flow into the country on a large scale.Traders said the inflows have produced an abundance of dollars in themarket that nobody appears to want.Spot yuan closed at 6.1492 against the dollar, slipping from 6.1459 atWednesdays close.
  3. 3. DAILY MARKET STATISTICSCURRENCY EXPIRY OPEN HIGH LOW CLOSEEURINR 29-May-2013 70.6400 70.7700 70.4825 70.6650EURINR 26-Jun-2013 70.9050 71.0300 70.7675 70.9350EURINR 29-Jul-2013 71.1150 71.3000 71.1000 71.3000GBPINR 29-May-2013 83.5375 83.6800 83.3725 83.5475GBPINR 26-Jun-2013 83.8050 83.9900 83.6900 83.8600JPYINR 29-May-2013 53.7000 53.7900 53.5150 53.5600JPYINR 26-Jun-2013 53.9025 54.0300 53.7700 53.8200USDINR 29-May-2013 54.8600 55.0250 54.7325 54.8850USDINR 26-Jun-2013 55.0700 55.2325 54.9550 55.1075USDINR 29-Jul-2013 55.3550 55.4925 55.2200 55.3725RBI REFERENCE RATE(As on 16THMAY 2013)UNDERLYING RATEUSDINR 54.7723EURINR 70.4605GBPINR 83.3141JPYINR 53.5000
  4. 4. USDINR DAILY ANALYSIS S1-54.7392 S2-54.5399 PP-54.8808 R1-55.0267 R2-55.1683PIVOT POINTS
  5. 5. EURINR DAILY ANALYSIS S1- 70.5092 S2-70.3533 PP-70.6383 R1-70.7942 R2-70.9233PIVOT POINTS
  6. 6. GBPINR DAILY ANALYSIS S1-83.3867 S2-83.2258 PP-83.5333 R1-83.6942 R2-83.8408PIVOT POINTS
  7. 7. 54.9950JPYINR DAILY ANALYSIS S1- 53.4533 S2- 53.3467 PP-53.6217 R1- 53.7283 R2- 53.8967PIVOT POINTS
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