DAILY FOREX REPORT RESEARCH VIA 5/13/2013
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MARKET HEADLINES
ďƒ˜ Rupee falls most in 4 months on global dollar strength The rupee posted its biggest single-day fall in four months on Friday, as the dollar's strength against global currencies and demand from oil and gold importers offset gains in domestic shares that have been driven by strong foreign flows. The immediate resistance for USD/INR is 54.75, followed by psychological resistance of 55.00 and good support around 54.15-20. The partially convertible rupee closed at 54.80/81 per dollar, 1 percent below its 54.25/26 close on Thursday. The unit dropped to as much as 54.8050 during the session, its weakest since April 8.
ďƒ˜ Sterling hits near 4-year high against yen Sterling rose to a near four-year high against a weaker yen on Friday, with the pound drawing support from pick-up in activity in the British economy that has lessened chances of more monetary easing in the near term. Against the euro, sterling was flat at 84.35 pence , while against a broadly firmer dollar it was marginally lower on the day at $1.5410.
ďƒ˜ Yuan ends weaker on global dollar rally, uptrend still seen intact China's yuan ended slightly lower on Friday, drifting from its all-time high hit in the previous session, after the central bank set its official midpoint weaker to reflect a rally in the dollar index overnight, traders said. Spot yuan closed at 6.1417 against the dollar, slipping from 6.1309 at the close on Thursday. The PBOC fixed its midpoint at 6.2016 before trade began, weaker than Thursday's all-time high midpoint of 6.1925. Guided by a series of record high midpoints, the yuan changed hands at as high as 6.1307 per dollar in intraday trading on Thursday, its 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
71.3000
71.4250
71.1500
71.3650
EURINR
26-Jun-2013
71.6275
71.6675
71.4050
71.6300
EURINR
29-Jul-2013
71.8200
71.8675
71.7225
71.7225
GBPINR
29-May-2013
84.4000
84.5850
84.2050
84.5100
GBPINR
26-Jun-2013
84.7875
84.8925
84.5375
84.8150
JPYINR
29-May-2013
55.0000
55.0000
53.9925
54.0850
JPYINR
26-Jun-2013
54.5500
54.5500
54.2475
54.3250
USDINR
29-May-2013
54.4800
54.9775
54.4800
54.9150
USDINR
26-Jun-2013
54.6100
55.1775
54.6100
55.1150
USDINR
29-Jul-2013
54.9000
55.4250
54.8975
55.3800
RBI REFERENCE RATE (As on 10TH MAY 2013) UNDERLYING
RATE
USDINR
54.5413
EURINR
71.1075
GBPINR
84.1900
JPYINR
53.9700
USDINR DAILY ANALYSIS
PIVOT POINTS S1-54.6042 S2-54.2933 PP-54.7908 R1-55.1017 R2-55.2833
EURINR DAILY ANALYSIS
PIVOT POINTS S1- 71.2017 S2-71.0383 PP-71.2017 R1-71.3133 R2-71.5883
GBPINR DAILY ANALYSIS
PIVOT POINTS
S1-84.2817 S2-84.0533 PP-84.4333 R1-84.6617 R2-84.8133
54.9950
JPYINR DAILY ANALYSIS
PIVOT POINTS
S1- 53.7183 S2- 53.3517 PP-54.3592 R1- 54.7258 R2- 55.3667
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