S
DAILY FOREX REPORT 16TH JANUARY 2013
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HEADLINES Short
dollar
on rate
cuts,
policy
reforms:
Westpac Westpac Institutional Bank says it is short dollar and will add to these positions on rallies back towards 55.50 levels. Rate cut by the RBI on Jan. 29 will be positive for the rupee as it will highlight a greater degree of confidence in the inflation outlook and help drive a rebound in growth, the bank says in a note. Westpac is more upbeat about the rupee's prospects at the start of the year due to the continuation of the government's reform agenda including delaying of the tax avoidance rules which would encourage
TRADING TIPS SELL USD/INR BELOW 54.67 FOR TGT 54.52/54.37 SL 54.87 PAST PERFORMANCE SELL USD/INR BELOW 54.62 FOR TGT 54.47/54.32 SL 54.42 TARGET ACHIEVED
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strong capital flows, they say. Lead indicators suggest improvements in Indian exporters, the bank added. "We suspect the combination of these factors can deliver a decent correction in dollar over the next few weeks," they say
REFERENCE RATE As on 15THJanuary 2013 UNDERLYING
RATE
USDINR
54.5425
EURINR
72.8525
GBPINR
87.6934
JPYINR
61.3000
+919752199966
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
72.9025
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
73.1500
14650
87.7600 1053
High 4560
73.1275
5120
1183.5
73.3875
15052.5
88.0325
LTP
Low 4532
72.7875 5018 1178
73.0500 14800
87.5875
KAPAS
7/19/2012
1049
1041
GBPINR PEPPER
26-Feb-2013 42300 1 GBP 4255588.0600 7/19/2012 42250 88.3475 42390
87.9275 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
61.3150
4265.5
61.5400 4518
4303
62.0375
781.3
61.1700 4315
61.4400
7/19/2012
4600
4664
4540
WHEAT USDINR
7/19/2012 29-Jan-2013
12511USD 1282 54.5025 1251 54.7950 1246
USDINR
26-Feb-2013
1 USD
54.8175
USDINR
27-Mar-2013
1 USD
55.0800
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4676
782.85
61.7950
CHG
Close -28
72.9750
PERCENTAGE CHANGE
Prev. Close -0.61
72.9325
-102
-1.99
-5.5
-0.46
-252.5
-1.68
73.2350
87.7900 -8
73.2125
87.8875 -0.76
88.1225 45
88.2225 0.11
-1.55
-0.2
12
0.28
61.6825
61.9375
61.1925
61.4425
-124
-2.66
54.4550 1282
54.6975 36
2.89 54.6050
55.0425
54.7200
54.9425
54.8450
55.2950
54.9900
55.2050
55.1225
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DAILY USD/INR CHART
ANALYSIS OPEN: 54.5975 HIGH: 54.7950 LOW: 54.4675 CLOSE: 54.6975
USD/INR LOOKS DOWNWARDS TREND: BEARISH
STRATEGY: SELL ON RISE
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DAILY EUR/INR CHART
ANALYSIS OPEN: 72.9025 HIGH: 73.1250 LOW: 72.7825 CLOSE: 72.9750
EUR/INR LOOKS DOWNWARDS TREND: BEARISH STRATEGY: SELL ON RISE
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FOREX FORTHCOMING DATA TIME
CURRENCY
DATA
ACTUAL
FORECAST
Tentative
EUR
German 10-y Bond Auction
7:00pm
USD
Core CPI m/m
0.2%
8:30pm
USD
NAHB Housing Market Index
48
9:00pm
USD
Crude Oil Inventories
9:30pm
USD
Crude Oil Inventories
PREVIOUS 1.40|1.5 0.1%
47 1.3M
-1.6M
-1.0M
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