DAILY FOREX REPORT RESEARCH VIA 5/17/2013
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MARKET HEADLINES
Rupee edges down against dollar; down 7 paise The rupee edged down to 54.85/86 versus its close of 54.78/79, tracking the euro's losses versus the dollar and a choppy domestic share market. The dollar held close to a 4-1/2 year high against the yen with buying from Japanese importers helping it to recoup some of the losses suffered after disappointing US industrial data, while the euro wobbled near a six-week low. Domestic shares up 0.2 per cent, but some choppiness seen on profittaking after the recent rally on the back of expectations for a rate cut.
Sterling falls against dollar, risks to UK growth weigh Sterling was heading towards six-week lows against the dollar on Thursday as investors sold the pound on concerns that a deepening recession in the euro zone would be a drag on the British economy. The Bank of England (BoE) raised its growth forecasts on Wednesday, but Governor Mervyn King said there were challenges ahead given the problems in the euro zone. Separate data showed the euro zone economy had shrunk for a sixth straight quarter. Sterling was down 0.2 percent on the day at $1.5202, not far from a six-week low of $1.5173 struck on Wednesday. Traders cited option expiries at $1.5200 that could keep the currency pinned around that level.
Yuan ends down for second day, but capital inflows imply near-term strength China's yuan closed slightly lower on Thursday for the second day on the back of an overnight rally in the dollar in global markets. But the yuan is likely to retain its recent strength as central bank data showed capital continued to flow into the country on a large scale. Traders said the inflows have produced an abundance of dollars in the market that nobody appears to want. Spot yuan closed at 6.1492 against the dollar, slipping from 6.1459 at Wednesday's close.
DAILY MARKET STATISTICS CURRENCY
EXPIRY
OPEN
HIGH
LOW
CLOSE
EURINR
29-May-2013
70.6400
70.7700
70.4825
70.6650
EURINR
26-Jun-2013
70.9050
71.0300
70.7675
70.9350
EURINR
29-Jul-2013
71.1150
71.3000
71.1000
71.3000
GBPINR
29-May-2013
83.5375
83.6800
83.3725
83.5475
GBPINR
26-Jun-2013
83.8050
83.9900
83.6900
83.8600
JPYINR
29-May-2013
53.7000
53.7900
53.5150
53.5600
JPYINR
26-Jun-2013
53.9025
54.0300
53.7700
53.8200
USDINR
29-May-2013
54.8600
55.0250
54.7325
54.8850
USDINR
26-Jun-2013
55.0700
55.2325
54.9550
55.1075
USDINR
29-Jul-2013
55.3550
55.4925
55.2200
55.3725
RBI REFERENCE RATE (As on 16TH MAY 2013) UNDERLYING
RATE
USDINR
54.7723
EURINR
70.4605
GBPINR
83.3141
JPYINR
53.5000
USDINR DAILY ANALYSIS
PIVOT POINTS S1-54.7392 S2-54.5399 PP-54.8808 R1-55.0267 R2-55.1683
EURINR DAILY ANALYSIS
PIVOT POINTS S1- 70.5092 S2-70.3533 PP-70.6383 R1-70.7942 R2-70.9233
GBPINR DAILY ANALYSIS
PIVOT POINTS
S1-83.3867 S2-83.2258 PP-83.5333 R1-83.6942 R2-83.8408
54.9950
JPYINR DAILY ANALYSIS
PIVOT POINTS
S1- 53.4533 S2- 53.3467 PP-53.6217 R1- 53.7283 R2- 53.8967
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