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Forex report today 21 may 2013


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Forex report today 21 may 2013

  1. 1. 9977785000DAILY FOREXREPORTRESEARCH VIA5/21/2013
  2. 2. MARKET HEADLINES Rupee near 2-1/2 month low against dollarThe rupee was trading at 55.02/03 versus its close of 54.88/89 onFriday, tracking weakness in the domestic share market and gooddemand of dollar from importers.Traders said good demand for the US currency from oil importersand gold firms are weighing on the Indian currency.Traders, however, expect the pair to face a stiff resistance around 55.15levels, holding it in a broad range of 54.50 to 55.15 band in the near-term.Traders will continue to monitor domestic shares for cues on foreignfund flows. Yuan ends up slightly as PBOC signals furtherappreciationChinas yuan closed slightly higher on Monday after the central banksurprised the market and fixed the official midpoint almost unchangeddespite a rally in the dollar.Spot yuan ended at 6.1389 against the dollar from 6.1419 at Fridaysclose after the Peoples Bank of China set the yuans midpoint at6.1998, almost flat from 6.1997 on Friday.Barring a reverse in capital inflows, several traders said they nowforecast the yuan to appreciate to 6.0 against the dollar in comingmonths compared with 6.2 which they had predicted in early April. Sterling falls versus dollar on talk of FederalReserve reducing stimulusSterling recovered from a six-week low against the dollar on Mondayas the US currency dipped after recent strong gains, but it was stillvulnerable to signs the US central bank may scale back monetarystimulus.Sterling was up 0.2 percent at $1.5202, off a low of $1.5158 hit onFriday when the dollar gained after US Federal Reserve officials calledfor the central bank to start tapering bond buying under itsquantitative easing programme.
  3. 3. DAILY MARKET STATISTICSCURRENCY EXPIRY OPEN HIGH LOW CLOSEEURINR 29-May-2013 70.8000 71.0075 70.7025 70.9850EURINR 26-Jun-2013 71.1225 71.2800 70.9825 71.2575EURINR 29-Jul-2013 71.2900 71.5000 71.2900 71.5000GBPINR 29-May-2013 83.6000 83.9100 83.5200 83.8725GBPINR 26-Jun-2013 84.0550 84.2200 83.9850 84.2000JPYINR 29-May-2013 53.5250 53.9050 53.5250 53.8775JPYINR 26-Jun-2013 53.9000 54.1400 53.9000 54.1200USDINR 29-May-2013 55.1150 55.2350 55.0325 55.1900USDINR 26-Jun-2013 55.3000 55.4475 55.2500 55.4025USDINR 29-Jul-2013 55.6000 55.7050 55.5225 55.6700RBI REFERENCE RATE(As on 20THMAY 2013)UNDERLYING RATEUSDINR 55.0368EURINR 70.6835GBPINR 83.6064JPYINR 53.6000
  4. 4. USDINR DAILY ANALYSIS S1-55.0700 S2-54.95000 PP-55.1525 R1-55.2725 R2-55.3550PIVOT POINTS
  5. 5. EURINR DAILY ANALYSIS S1- 70.9775 S2-70.9700 PP-70.9925 R1-71.0000 R2-71.0150PIVOT POINTS
  6. 6. GBPINR DAILY ANALYSIS S1-83.6250 S2-83.3775 PP-83.7675 R1-84.0150 R2-84.1575PIVOT POINTS
  7. 7. 54.9950JPYINR DAILY ANALYSIS S1- 53.6333 S2- 53.3892 PP-53.7692 R1- 54.0133 R2- 54.1492PIVOT POINTS
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