DAILY FOREX REPORT 7TH JANUARY 2013
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HEADLINES Rupee down for second day on short-covering Traders say short-covering in the dollar seen on the back of losses in regional equity markets, but exporters are expected to step up sales at higher levels, holding the pair in a 54.65 to 54.95 range. Asian shares fall tracking overnight weakness in global equities after senior Federal Reserve officials express concerns about continuing to expand simulative bond buying. Traders will also watch domestic share market moves for cues on foreign fund flows. Shares trading down 0.1 percent in early trade. Rupee down 33 paise Vs dollar in early trade
TRADING TIPS BUY EUR/INR ABOVE 71.97 FOR TGT 72.12/72.27 SL 71.82 PAST PERFORMANCE SELL USD/INR BELOW 54.70 FOR TGT 54.55/54.40 SL 54.85 UNEXECUTED
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The rupee today weakened by 33 paise to 54.83 against the dollar in early trade at the Interbank Foreign Exchange market due to increased demand for the US currency from importers amid firm global cues. Forex dealers said besides dollar's gains against euro and yen overseas, increased demand from oil importers for the American currency and a weak opening in the stock market also put pressure on the rupee. The rupee had lost 15 paise to close at 54.50 against the US dollar yesterday.
REFERENCE RATE As on 4THJanuary 2013 UNDERLYING
RATE
USDINR
54.8458
EURINR
71.5405
GBPINR
88.1646
JPYINR
62.5000
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DAILY MARKET STATISTICS PRODUCT NAME
EXP DATE
Symbol
Series/Expiry
CHANA
7/19/2012
EURINR
OPEN
HIGH
LOW
Unit
Open
4556
29-Jan-2013
4573
1 EUR
4525
71.6500
CHILLI
7/19/2012
5060
5060
GUR
7/19/2012
1188
1188
JEERA
7/19/2012
14955
14960
EURINR
GBPINR
26-Feb-2013
1 EUR
29-Jan-2013
1 GBP 1044
5018 1178
71.8400
14650
88.6000 1053
High 4560
72.0425
5120
1183.5
72.2775
15052.5
88.6950
LTP
Low 4532
71.5700 5018 1178
71.8125 14800
88.2125
KAPAS
7/19/2012
1049
1041
GBPINR PEPPER
26-Feb-2013 42300 1 GBP 4255588.5700 7/19/2012 42250 88.9700 42390
88.5125 42435
REF SOYA
7/19/2012
780.5
783.6
SOY BEAN
7/19/2012
4309
4330
JPYINR
JPYINR TURMERIC
29-Jan-2013
26-Feb-2013
100 JPY
100 JPY
1035
CLOSE
777.4
62.7325
4265.5
62.9050 4518
4303
63.0575
781.3
62.5125 4315
62.7525
7/19/2012
4600
4664
4540
WHEAT USDINR
7/19/2012 29-Jan-2013
12511USD 1282 54.8300 1251 55.3900 1246
USDINR
26-Feb-2013
1 USD
55.1600
USDINR
27-Mar-2013
1 USD
55.3950
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4676
782.85
62.8350
CHG
Close -28
71.9600
PERCENTAGE CHANGE
Prev. Close -0.61
71.7075
-102
-1.99
-5.5
-0.46
-252.5
-1.68
72.1825
88.5950 -8
71.9600
88.4875 -0.76
88.8575 45
88.7475 0.11
-1.55
-0.2
12
0.28
62.7100
62.9050
62.9725
63.1525
-124
-2.66
54.8300 1282
55.3325 36
2.89 54.7300
55.6325
55.1600
55.5800
54.9675
55.8700
55.3925
55.8275
55.2175
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DAILY USD/INR CHART
ANALYSIS OPEN: 54.9450 HIGH: 55.3900 LOW: 54.9250 CLOSE: 55.3325
USD/INR LOOKS UPWARDS TREND: BULLISH
STRATEGY: BUY ON DIPS
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DAILY EUR/INR CHART
ANALYSIS OPEN: 71.7050 HIGH: 72.0425 LOW: 71.5700 CLOSE: 71.9600
EUR/INR LOOKS UPWARDS TREND: BULLISH STRATEGY: BUY ON DIPS
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FOREX FORTHCOMING DATA TIME
CURRENCY
DATA
ACTUAL
FORECAST
PREVIOUS
1:30pm
CHF
Foreign Currency Reserves
427.4B
3:00pm
EUR
Sentix Investor Confidence
-16.8
3:30pm
EUR
PPI m/m
0.1%
8:30pm
CAD
Ivey PMI
47.5
9:30pm
USD
Crude Oil Inventories
-1.6M
-1.0M
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