DAILY FOREX REPORT RESEARCH VIA 4/16/2013
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MARKET HEADLINES
Rupee off day's low as March inflation surprises In Forex Market the rupee is trading stronger at 54.58/59 versus its previous close of 54.52/53, but off the day's low of 54.7950 after March inflation data surprised on the downside. The Wholesale price index (WPI) rose a slower-than-expected 5.96 per cent in March, the lowest rate in more than three years, government data showed on Monday. Domestic shares are trading up 0.7 per cent after inflation data also hurting the dollar. An upward revision in the January inflation data, however, preventing a further fall in the dollar/rupee, traders say.
Yuan closes at fresh record high as dollar sags The Chinese yuan set yet another record against the dollar on Monday, overturning Friday's all-time high, as the greenback continued to back off from a peak struck in mid-March. The central bank set the official midpoint at 6.2454 per dollar on Monday morning, its highest level since the domestic forex market opened in 1994. This gave the spot yuan range to close at a new high of 6.1871. Trading volume was average at slightly more than $12 billion, but the exchange rate moved within a tight range between 6.1889 and 6.1860 per dollar.
Swiss franc down against yen on US caution to Japan The Swiss franc fell with the dollar against the yen on Monday after the US Treasury Department said it was watching Japan's policies to make sure they were not aimed at weakening its currency. The franc fell 0.6 per cent against the yen to trade at 105.33 by 0628 GMT compared to Friday's New York close, while the Swissie was off 0.4 per cent against the greenback at 0.931.
DAILY MARKET STATISTICS CURRENCY
EXPIRY
OPEN
HIGH
LOW
CLOSE
EURINR
26-Apr-2013
71.8000
71.8000
71.4050
71.4775
EURINR
29-May-2013
72.0050
72.1600
71.8300
71.9000
EURINR
26-Jun-2013
72.3100
72.3200
72.2000
72.2000
GBPINR
26-Apr-2013
83.9225
84.1475
83.6825
83.8275
GBPINR
29-May-2013
84.4000
84.5175
84.1325
84.2750
JPYINR
26-Apr-2013
54.9000
56.2550
54.9000
56.0150
JPYINR
29-May-2013
56.2000
56.5600
55.9800
56.3500
USDINR
26-Apr-2013
54.8200
54.9475
54.6600
54.7050
USDINR
29-May-2013
55.1200
55.2400
54.9825
55.0400
USDINR
26-Jun-2013
55.4000
55.5225
55.2750
55.3400
RBI REFERENCE RATE (As on 15TH April 2013) UNDERLYING
RATE
USDINR
54.6260
EURINR
71.4150
GBPINR
83.6980
JPYINR
55.6700
USDINR DAILY ANALYSIS
PIVOT POINTS S1-54.5958 S2-54.4867 PP-54.7717 R1-54.8808 R2-55.0567
EURINR DAILY ANALYSIS
PIVOT POINTS S1- 71.3233 S2-71.1692 PP-71.5617 R1-71.7158 R2-71.9542
GBPINR DAILY ANALYSIS
PIVOT POINTS
S1- 83.7208 S2-83.6142 PP-83.9342 R1-84.0408 R2-84.2542
JPYINR DAILY ANALYSIS
PIVOT POINTS
S1- 55.6950 S2- 55.3750 PP-55.9750 R1- 56.2950 R2- 56.5750
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