DAILY FOREX REPORT RESEARCH VIA 12/7/2013
www.researchvia.com
9977785000
MARKET HEADLINES
ďƒ˜ Rupee up 24 paise vs US dollar in early trade The rupee today rose by 24 paise to 59.41 in early trade at the Interbank Foreign Exchange market as the dollar weakened against other major rivals overseas after US Federal Reserve Chairman Ben Bernanke said its huge stimulus programme would stay in place for some time.The rupee had gained 49 paise, the most since June 28, to close at 59.65 against dollar in yesterday's trade, after the RBI and Sebi took steps to curb volatility.Meanwhile, the BSE benchmark Sensex rose by 290.26 points, or 1.50 per cent, to 19,584.38 in early trade today.
ďƒ˜ Dollar tumbles after dovish Bernanke trip up bulls The dollar tumbled on Thursday after dovish comments from Federal Reserve Chairman Ben Bernanke forced traders to trim their long positions on the greenback, as markets reassessed expectations that the Fed would start to reduce stimulus as early as September. Bernanke's comment came during early Asian trading hours, when market liquidity is at its lowest, promoting a rapid barrage of stop-loss selling of the dollar, possibly exaggerating price action, traders said. The euro roared to a three-week high of $1.32085 at one stage, up more than 3 per cent from Wednesday's low of $1.2765. It easily spiked above $1.3010, the 38.2 per cent retracement of its June-July fall, then $1.3167, the 61.8 per cent level. The euro last traded at $1.3090, up 0.9 per cent on the day. The dollar also fell against the yen, dropping to a two-week low of 98.20 yen, though it held above a key support from the cloud bottom on the daily Ichimoku charts at 98.155.
DAILY MARKET STATISTICS CURRENCY
EXPIRY
OPEN
HIGH
LOW
CLOSE
EURINR
29-Jul-13
77.7000
78.3500
77.7000
78.1975
EURINR
28-Aug-13
77.8000
78.6050
77.8000
78.4175
EURINR
26-Sep-13
78.0125
78.7250
78.0125
78.7000
GBPINR
29-Jul-13
89.6500
90.7825
89.6500
90.5100
GBPINR
28-Aug-13
89.9000
91.0000
88.9600
90.7425
JPYINR
29-Jul-13
60.0225
60.6425
60.0225
60.3350
JPYINR
28-Aug-13
60.3000
60.8525
60.3000
60.5250
USDINR
29-Jul-13
59.8425
60.0925
59.4300
59.8925
USDINR
28-Aug-13
59.9025
60.3000
59.6700
60.0800
USDINR
26-Sep-13
60.0000
60.4900
59.8850
60.2650
RBI REFERENCE RATE (As on 11TH JUNE 2013) UNDERLYING
RATE
USDINR
59.6420
EURINR
77.9850
GBPINR
90.1370
JPYINR
60.4000
USDINR DAILY ANALYSIS
PIVOT POINTS S1-59.3175 S2-59.0425 PP-59.7050 R1-59.9800 R2-60.3675
EURINR DAILY ANALYSIS
PIVOT POINTS S1- 77.8150 S2-77.4325 PP-78.0825 R1-78.4650 R2-78.7325
GBPINR DAILY ANALYSIS
PIVOT POINTS
S1-89.8458 S2-89.1817 PP-90.3142 R1-90.9783 R2-91.4467
54.9950
JPYINR DAILY ANALYSIS
PIVOT POINTS
S1- 60.0242 S2- 59.7133 PP-60.3333 R1- 60.6442 R2- 60.9533
DISCLAIMER All data and reports at Research Via are only information services for subscribers and are not individualized recommendations to buy or sell securities, nor offers to buy or sell securities. Under any circumstances the subscription amount paid to Research Via are not refundable. Investment in equity shares, futures, options and commodities has its own risks. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and on sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred due to it & take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations above. This Website is for information purposes only. The information contained on this should not be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for the units of the schemes of Research Via. Research Via is neither responsible nor liable for third party content provided or content from any other aspect of any other Website, which may be accessed from this Website. A possibility exists that the site could include inaccuracies or errors. Additionally, a possibility exist that unauthorized additions, deletions or alterations could be made by third parties to the site. Although Research Via attempts to ensure the integrity, correctness and authenticity of the site, it makes no guarantees whatsoever as to its completeness, correctness or accuracy. In the event, that such an inaccuracy arises, please inform Research Via so that it can be corrected. Research Via and its owners/affiliates are not liable for damages caused by any performance, failure of performance, error, omission, interruption, deletion, defect, delay in transmission or operations, computer virus, communications line failure, and unauthorized access to the personal accounts. Research Via is not responsible for any technical failure or malfunction of the software or delays of any kind. We are also not responsible for non-receipt of registration details or e-mails. Research Via is not responsible for the content of any of the linked sites. By providing access to other web-sites, Research Via is neither recommending nor endorsing the content available in the linked websites.