DAILY FOREX REPORT RESEARCH VIA 3/5/2013
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MARKET HEADLINES
ďƒ˜ Rupee falls on short-covering; oil demand seen The rupee fell to 53.85/86 from its previous close of 53.80/81 on the back of some short-covering by state-run banks while dollar demand from oil firms also helped. The euro slipped against the dollar in anticipation of the European Central Bank cutting interest rates in an attempt to support a flagging economy. Dealers say the market is sitting short on dollar ahead of the anticipated rate cut on Friday and when the rupee rose to a two-month low of 53.6625, some short covering was triggered.
ďƒ˜ Swiss franc falls against dollar after five days of gains The Swiss franc slipped lower against the dollar on Thursday, pulling back from a two-week high against the greenback after five consecutive sessions of gains driven by a stream of weak economic data from the United States. The franc fell 0.2 per cent against the dollar compared to the New York close, trading at 0.9288 francs per dollar at 0637 GMT. The franc was stable against the euro at 1.2222 per euro.
ďƒ˜ Yuan hits another record high, traders increasingly mystified China's yuan hit another record high versus the dollar on Thursday after the central bank fixed its midpoint at a fresh all-time high, maintaining a trend that began in April, even as signs emerge that China's economy is running into headwinds. Spot yuan was trading at 6.1537 against the dollar at midday, the currency's highest level since China established the domestic foreign exchange market in 1994.
DAILY MARKET STATISTICS CURRENCY
EXPIRY
OPEN
HIGH
LOW
CLOSE
EURINR
29-May-2013
71.0325
71.2675
70.4900
70.5450
EURINR
26-Jun-2013
71.3750
71.5800
70.8200
70.8550
EURINR
29-Jul-2013
71.2700
71.2700
71.1375
71.1375
GBPINR
29-May-2013
84.1000
84.3400
83.4175
83.4725
GBPINR
26-Jun-2013
84.4500
84.6000
83.8075
83.8650
JPYINR
29-May-2013
55.5900
55.7125
55.3025
55.3675
JPYINR
26-Jun-2013
55.7850
56.0000
55.6050
55.6450
USDINR
29-May-2013
54.3775
54.4300
53.9225
53.9475
USDINR
26-Jun-2013
54.8400
54.8400
54.1900
54.2075
USDINR
29-Jul-2013
54.9300
54.9650
54.4900
54.5000
RBI REFERENCE RATE (As on 2ND MAY 2013) UNDERLYING
RATE
USDINR
53.7355
EURINR
70.7155
GBPINR
83.5426
JPYINR
5.2400
USDINR DAILY ANALYSIS
PIVOT POINTS S1-53.7717 S2-53.5958 PP-54.1008 R1-54.2767 R2-54.6058
EURINR DAILY ANALYSIS
PIVOT POINTS S1- 70.2708 S2-69.9967 PP-70.7692 R1-71.0433 R2-71.5417
GBPINR DAILY ANALYSIS
PIVOT POINTS
S1- 83.1467 S2-82.8208 PP-83.7433 R1-84.0692 R2-84.6658
54.9950
JPYINR DAILY ANALYSIS
PIVOT POINTS
S1- 55.2108 S2- 55.0542 PP-55.4592 R1- 55.6258 R2- 56.8642
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