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Daily currency report 24-09-2013 doc

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Daily currency report 24-09-2013 doc

  1. 1. lladollatop 24/09/2013 CURRENCY OUTLOOK FOR THE DAY Currency Rate* Trend Support Resistance Dollar Index 80.46 SIDEWAYS 80.14/79.91 80.73/80.95 EUR/USD 1.3495 SIDEWAYS 1.3460/1.3433 1.35361.3565 USD/JPY 98.77 SIDEWAYS 98.55/98.30 99.20/99.45 GBP/USD 1.6030 SIDEWAYS 1.5978/1.5947 1.6057/1.6090 USD/INR(Sep) 62.90 SIDEWAYS 62.63/62.44 63.19/63.36 EUR/INR(Sep) 84.88 SIDEWAYS 84.68/84.45 85.28/85.50 JPY/INR(Sep) 63.71 SIDEWAYS 63.43/63.23 63.96/64.16 GBP/INR(Sep) 100.76 SIDEWAYS 100.55/100.30 101.30/101.45 Note: The above levels are only for intraday trading. Today’s Major Economic Releases Time (IST) Currency Event Forecast Previous Adverse/Favourable/Neutral 13:30 EUR EUR German IFO - Business Climate 108 107.5 Favourable 13:30 EUR EUR German IFO - Current Assessment 112.6 112 Favourable 13:30 EUR EUR German IFO - Expectations 104 103.3 Favourable
  2. 2. Major Market Update *For commodities and Currency queries during market hrs (9:00 AM- 11:30 PM) Contact: 011-25754373.; Ext: 436; 437. Direct Line- 9650507651 Disclaimer: - This report is for personal information of the authorized recipient and doesn’t construe to be any investment, legal or taxation advice to you. It is only for private circulation and use. The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such. No action is solicited on the basis of the contents of the report. The report should not be reproduced or redistributed to any other person(s) in any form without prior written permission of SMC. The contents of this material are general and are neither comprehensive nor inclusive. Neither SMC nor any of its affiliates, associates, representatives, directors or employees assume any responsibility for any loss or damage that may arise to any person due to any trading/action taken on the basis of this report. It does not constitute personal recommendations or take into account the particular investment objectives, financial situations or needs of an individual client or a corporate/s or any entity/s. All investments involve risk and past performance doesn’t guarantee future results. The value of, and income from investments may vary because of the changes in the macro and micro factors given at a certain period of time. The person should use his/her own investigations and judgment while taking any positions or investment decisions. Please note that we and our affiliates, officers, directors, and employees, including persons involved in the preparation or issuance if this material;(a) from time to time, may have long or short positions in, and buy or sell the currencies thereof, mentioned here in or (b) be engaged in any other transaction involving such currencies and earn brokerage or other compensation (c) may have any other potential conflict of interest with respect to any recommendation and related information and opinions. All disputes shall be subject to the exclusive jurisdiction of courts at Delhi. The dollar remained lower after a two-day slide versus the yen as the U.S. government moves closer to a shutdown with lawmakers wrangling over the debt limit. The Canadian dollar gained for the first time in three days before a report tomorrow forecast to show retail sales rebounded in July from the worst monthly decline this year. The Federal Reserve’s surprise decision to delay tapering stimulus as inflation remains subdued suggests Bank of Japan Governor Haruhiko Kuroda faces an uphill battle to stoke price increases with quantitative easing. European Central Bank President Mario Draghi said he’s ready to deploy another long-term refinancing operation to provide funds to Europe’s banking system if needed. The Swiss franc is still highly valued and the central bank’s currency ceiling remains essential for safeguarding the economy, Swiss National Bank President Thomas Jordan said. The rupee and government bonds fell for the second straight trading day as foreign investors unwound positions in the equity markets on dampened hopes.

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