DAILY FOREX REPORT RESEARCH VIA 11/7/2013
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MARKET HEADLINES
Rupee up 13 paise vs dollar in early trade on RBI steps The rupee today rose by 13 paise to 60.01 against the US dollar in early trade at the Interbank Foreign Exchange market after the RBI took steps to curb volatility in the currency. The rupee had ended 47 paise higher at 60.14 against the US currency in the previous session. Meanwhile, the BSE benchmark index Sensex rose by 49.65 points, or 0.26 per cent, to 19,489.13 in early today.
Yuan slides on falling exports, ignores PBOC guidance China's yuan sank against the dollar on Wednesday as unexpectedly poor trade data for June sparked worries over the health of the world's second-largest economy.The yuan's decline was all the more notable as the central bank had set a stronger midpoint for the currency's daily trading band with the dollar.Spot yuan was trading at 6.1359 against the dollar at midday, down 0.1 per cent from Tuesday's close of 6.1295 even though the People's Bank of China set the midpointat 6.1652, a sharp rise of 0.13 per cent from Tuesday. Chinese exports fell by 3.1 per cent in June from a year earlier, official data published on Wednesday showed, the first decline since January 2012, shocking a market that had previously expected a 4.0 per cent rise.
Dollar down vs yen on Bernanke loom
stops; Fed minutes,
The dollar fell against the yen on Wednesday on position squaring, with the near-term focus on whether the minutes of the Federal Reserve's June meeting and a speech by Chairman Ben Bernanke will give fresh ammunition to dollar bulls. The dollar slipped 0.6 per cent to 100.59 yen, pulling away from a sixweek high of 101.54 yen set on Monday on trading platform EBS.
DAILY MARKET STATISTICS CURRENCY
EXPIRY
OPEN
HIGH
LOW
CLOSE
EURINR
29-Jul-13
77.2500
77.3050
76.8350
76.9150
EURINR
28-Aug-13
77.3425
77.5975
77.1250
77.1800
EURINR
26-Sep-13
77.8950
77.8950
77.0050
77.2000
GBPINR
29-Jul-13
89.7125
89.8900
89.3400
89.4075
GBPINR
28-Aug-13
89.9250
90.1325
89.6000
89.6300
JPYINR
29-Jul-13
59.7900
60.3900
59.6300
59.9525
JPYINR
28-Aug-13
59.9125
60.6125
59.9000
60.1725
USDINR
29-Jul-13
60.4350
60.4350
59.8850
59.9450
USDINR
28-Aug-13
60.5650
60.6350
60.1325
60.1825
USDINR
26-Sep-13
60.8200
60.8900
60.3350
60.3725
RBI REFERENCE RATE (As on 10TH JUNE 2013) UNDERLYING
RATE
USDINR
60.1330
EURINR
76.8915
GBPINR
89.5200
JPYINR
59.7600
USDINR DAILY ANALYSIS
PIVOT POINTS S1-59.7417 S2-59.5383 PP-60.0883 R1-60.2917 R2-60.6383
EURINR DAILY ANALYSIS
PIVOT POINTS S1- 76.7317 S2-76.5483 PP-77.0183 R1-77.2017 R2-77.4883
GBPINR DAILY ANALYSIS
PIVOT POINTS
S1-89.2017 S2-88.9958 PP-89.5458 R1-89.7517 R2-90.0958
54.9950
JPYINR DAILY ANALYSIS
PIVOT POINTS
S1- 59.5917 S2- 59.2308 PP-59.9908 R1- 60.3517 R2- 60.7508
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