1. 16 SEPT - 20 SEPT 2013
W E E K L Y
R
E
P
O
R
T
Buy on fear, sell on greed.
Buy on the rumor, sell on the news.
The trend is your friend.
Amateurs want to be right.
Professionals want to make money.
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2. REFERENCE RATE
(USD)
63.7890
REPO RATE 7.25%
REVERSE REPO 6.25%
CRR 4%
INFLATION 5.79%
KEY RATESAs on 13/09/2013
MARKET EVENTS MARKET OUTLOOK
The rupee today fell by 65 paise to
64.15 against the dollar in early trade
on Friday, tracking weakness in offshore
non-deliverable forwards but better-
than-expected factory output data may
limit a very sharp fall. The rupee was
quoting lower by 32 paisa at 63.82
against the Greenback in late morning
deals on dollar demand from importers
and its firm value overseas. The dollar
index was trading up by 0.12 per cent
against its six major global rivals ahead
of retail sales data before the all-
important Federal Reserve meeting next
week. Factory output measured in
terms of the IIP recorded a growth of
2.6 per cent in July while retail inflation
measured on the CPI eased slightly to
9.52 per cent in August.
Rupee sees best week in 15
months; FOMC meet key.
Slip but head for weekly gain;
rouble gains as rates kept
steady.
Sterling hits 8-month trade-
weighted high on stronger
economy.
Fed nomination report lifts
dollar, shares weak.
CURRENCIES
PREVIOUS
RATE
CURRENT
RATE
% CHANGE
USDINR 65.7050 63.7525 -2.97
EURINR 86.1050 84.6350 -1.70
GBPINR 102.2450 100.6675 -1.54
JPYINR 65.9200 63.8950 -3.07
3. USDINR
EURINR
USDINR last week showed correction and closed in negative territory. In the coming week RBI
policy will affect the volatility of USDINR and on daily charts 61.8% retracement of 62.9500 will
act as major support below which it may drag towards deeper support levels. While, strength can
be said only if it maintains above 64.7000.
EURINR last week moved in a tight range and remained on lower side. Now, on daily charts trend
line is coming from previous lows which is expected to act as strong support around 83.0000
below which 82.3000 will be immediate support and any reversals from this trend line may find
resistance in the range of 85.8500-86.7000.
4. CURRENCIES S1 S2 S3 R1 R2 R3
USDINR 62.3000 61.3000 60.0000 64.7000 65.5000 66.6000
EURINR 84.0000 83.0000 81.6000 85.8500 87.3000 89.0000
GBPINR 99.8000 98.5000 97.2000 102.6500 104.0000 105.4000
JPYINR 63.1000 62.2000 61.0000 64.8000 66.0000 67.2000
PIVOT TABLE
DATE TIME COUNTRY EVENT
BLOOMBERG
ESTIMATE
PREVIOUS
LEVEL
17-Sept-2013
6:00
PM
US Core CPI m/m 0.1% 0.2%
18-Sept-2013
11:30
PM
US FOMC Statement - -
19-Sept-2013
06:00
PM
US
Unemployment
Claims
323k 292k
20-Sept-2013
11:00
AM
INDIA
RBI Monetary
Policy
- -
INTERNATIONAL UPDATES
Canada Dollar Rises as Fading of Syria Threat Boosts Risk
Assets.
Fidelity Sees Bank of Canada Raising Rates After Bernanke.
Pound Rises to Seven-Month High After Construction Report.
