DAILY FOREX REPORT RESEARCH VIA 4/7/2013
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MARKET HEADLINES
Rupee tanks below 60 mark; down by 72 p vs US Dollar The Rupee is extending losses tailing stock weakness, euro losses also hurting, says dealer. The pair is at 60.38/39, up from an intraday high of 59.84. The Rupee has immediate resistance at 60.40. Dealers say no RBI presence suspected for now, but on watch. This is the first time since June 27 that the domestic currency tips has fallen below the 60 level. Rupee had touched an all-time low of 60.76 against the dollar on June 26.
Sterling rises, gilt futures pare gains after robust UK services PMI Sterling rose to a session high versus the dollar while gilt futures pared gains on Wednesday after a survey showed that Britain's services sector grew at its fastest rate in more than two years in June. Sterling rose 0.4 percent to the day's high of $1.5214 from $1.5168 before the data. It recovered from a one-month low of $1.5130, hit earlier in the day. The euro fell 0.7 percent to a session low of 85.05 pence from 85.32 pence beforehand. British government bond futures pared earlier hefty gains by more than 15 ticks after the release of the data, with the September contract dropping as low as 113.02 from a level of 113.20 just before the data.
Yuan little changed; PBOC favors stability amid regional declines China's yuan was little changed on Wednesday after the central bank's recent fixings signalled a desire for stability amid falls in emerging Asian equities and currencies. Spot yuan traded at 6.1321 per dollar near midday, up 0.01 per cent from Tuesday's close. The People's Bank of China (PBOC) fixed its midpoint at 6.1803 per dollar on Wednesday, 0.05 per cent weaker than Tuesday's fix.
DAILY MARKET STATISTICS CURRENCY
EXPIRY
OPEN
HIGH
LOW
CLOSE
EURINR
29-Jul-13
77.8175
78.6675
77.8175
78.5125
EURINR
28-Aug-13
78.3000
78.9500
78.3000
78.8500
EURINR
26-Sep-13
78.7000
79.2000
78.7000
78.9000
GBPINR
29-Jul-13
91.1375
92.5400
91.0875
92.4025
GBPINR
28-Aug-13
91.4325
92.8300
91.4050
92.7150
JPYINR
29-Jul-13
60.4750
61.0300
59.6950
60.8950
JPYINR
28-Aug-13
59.9950
61.2575
59.9325
61.0975
USDINR
29-Jul-13
60.2750
60.7525
60.0400
60.6175
USDINR
28-Aug-13
60.4500
61.0100
60.4050
60.8725
USDINR
26-Sep-13
60.6850
61.2500
60.6525
61.1150
RBI REFERENCE RATE (As on 3RD JUNE 2013) UNDERLYING
RATE
USDINR
60.1005
EURINR
77.9505
GBPINR
91.0703
JPYINR
59.6500
USDINR DAILY ANALYSIS
PIVOT POINTS S1-60.1875 S2-59.7575 PP-60.4700 R1-60.9000 R2-61.1825
EURINR DAILY ANALYSIS
PIVOT POINTS S1- 77.9975 S2-77.4825 PP-78.3325 R1-78.8475 R2-79.1825
GBPINR DAILY ANALYSIS
PIVOT POINTS
S1-91.4800 S2-90.5575 PP-92.0100 R1-92.9325 R2-93.4625
54.9950
JPYINR DAILY ANALYSIS
PIVOT POINTS
S1- 60.0500 S2- 59.2050 PP-60.5400 R1- 61.3850 R2- 61.8750
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