The US dollar dipped against other major currencies after US GDP growth for the first quarter came in lower than expected at 2.5% versus the forecasted 3.0%. India's foreign exchange reserves fell by $485 million to $294.76 billion for the week ending April 19 due to a decline in core currency assets. Key upcoming economic events that could impact forex markets include French business survey results, US crude oil inventories, and continuing US jobless claims data. Technical analysis of currency pairs like USD/INR and EUR/INR showed sideways trends with bullish biases and recommendations to buy on dips.

1. WEEKLY FOREX REPORT
29ND
APRIL 2013
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 HEADLINES
Forex - Dollar dips as U.S. GDP growth rate
disappoints
The U.S. dollar traded largely lower against most major currencies on Friday
after U.S. economic growth figures for the first quarter came in less than
expected and stoked fears the U.S. economy may be hitting a soft patch.
In U.S. trading on Friday, EUR/USD was up 0.14% at 1.3030.
In the U.S. earlier, the Bureau of Economic Analysis revealed in a preliminary
report that the U.S. gross domestic product rose 2.5% in the first quarter,
missing expectations for a 3.0% increase though an improvement from a 0.4%
riseinthepreviousquarter.
Forex - USD/JPY drops on disappointing U.S.
GDPdata
Forex reserves fall by $ 485 mn to $ 294.76
billion
The country's foreign exchange reserves were down by $ 485.9
million to $ 294.76 billion for the week ending April 19, in the wake
of fall in core currency assets, the Reserve Bank said today.
Foreign currency assets, a major component of the fore reserves,
were down by $ 489.2 million to $ 262.41 billion, according to
ReserveBank'sweeklystatisticalsupplement.
Foreign currency assets expressed in US dollar terms include the
effect of appreciation or depreciation of the non-US currencies, such
as the euro, pound and yen, held in the reserves, the apex bank
said
 RBI REFERENCE RATE
As on 29TH
APRIL 2013
UNDERLYING RATE
USDINR 54.2935
EURINR 70.6750
GBPINR 83.88350
JPYINR 55.050

3. PRODUCT
NAME
EXP DATE OPEN HIGH LOW CLOSE LTP CHG PERCENTAGE
CHANGE
CHANA 7/19/2012 4556 4573 4525 4560 4532 -28 -0.61
CHILLI 7/19/2012 5060 5060 5018 5120 5018 -102 -1.99
GUR 7/19/2012 1188 1188 1178 1183.5 1178 -5.5 -0.46
JEERA 7/19/2012 14955 14960 14650 15052.5 14800 -252.5 -1.68
KAPAS 7/19/2012 1044 1053 1035 1049 1041 -8 -0.76
PEPPER 7/19/2012 42300 42555 42250 42390 42435 45 0.11
REF SOYA 7/19/2012 780.5 783.6 777.4 782.85 781.3 -1.55 -0.2
SOY BEAN 7/19/2012 4309 4330 4265.5 4303 4315 12 0.28
TURMERIC 7/19/2012 4600 4676 4518 4664 4540 -124 -2.66
WHEAT 7/19/2012 1251 1282 1251 1246 1282 36 2.89
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DAILY MARKET STATISTICS (As on26TH
APRIL 2013)
Symbol Series/Expiry Unit Open High Low Close Prev. Close
EUR-INR 26-Apr-2013 1 EUR 70.6475 70.7325 70.5200 70.6975 70.8350
EUR-INR 29-May-2013 1 EUR 71.5000 71.5000 70.8100 70.9400 71.0800
GBP-INR 26-Apr-2013 1 GBP 83.6850 83.8825 83.6600 83.8500 83.6775
GBP-INR 29-May-2013 1 GBP 83.9825 84.3675 83.9200 84.2825 83.9725
JPY-INR 26-Apr-2013 100 JPY 54.7100 55.1800 54.6175 54.9950 54.6525
JPY-INR 29-May-2013 100 JPY 55.0000 55.4675 54.8800 55.3400 54.9325
USD-INR 26-Apr-2013 1 USD 54.1900 54.2925 54.1150 54.2800 54.1775
USD-INR 29-May-2013 1 USD 54.3875 54.6275 54.3375 54.5775 54.4050
USD-INR 26-Jun-2013 1 USD 54.6500 54.8925 54.6150 54.8450 54.6850

4. WEEKLY USD/INR CHART
ANALYSIS
OPEN: 54.7600
HIGH: 54.7600
LOW: 53.7400
CLOSE: 54.0000
 USD/INR LOOKS SIDEWAYS
 TREND: BULLISH
 STRATEGY: BUY ON DIPS
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5.  WEEKLY EUR/INR CHART
ANALYSIS
OPEN: 71.5900
HIGH: 71.6100
LOW: 70.3600
CLOSE: 71.5400
 EUR/INR LOOKS SIDEWAYS
 TREND: BULLISH
 STRATEGY: BUY ON DIPS
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6. FOREX FORTHCOMING EVENTS
DAY TIME CURRENCY DETAILS ACTUAL FORECAST PREVIOUS
MONDAY 10.00AM USD Chicago Fed National Activity -0.23 0.35 0.76
TUESDAY 2:00pm EURO French Business Survey 88 90 91
WEDNESDAY 5:45pm USD Crude Oil Inventories 0.94M 1.515M -1.233M
THURSDAY 6:00pm USD Continuing Jobless Claims 3000K 3060K 3093K
FRIDAY 8:30am USD Indian FX Reserves, USD 294.76B 295.25B
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