DAILY FOREX REPORT

RESEARCH VIA
4/17/2013

www.researchvia.com

9977785000

MARKET HEADLINES

Rupee hits 2-week high; buying seen at 54.34 levels

The rupee extended gains to 54.33/34, its highest since April 2 and up from its Monday's close of 54.6250/6350, tracking gains in domestic shares as slumping commodity and gold prices are reducing the pressure on India's record current account deficit. The Sensex is up 1.3 per cent. Traders say the sentiment for dollar also remains weak as the global commodities sell-off reduced demand for the greenback. Buying is expected below 54.34 levels and downside is likely to be limited around 54.25 for the day, traders said.

Sterling edges up against dollar but market wary before UK data

Sterling edged up against the dollar on Tuesday but fell against the euro and was seen as vulnerable to concerns over global growth and upcoming data that may highlight Britain's own economic weakness. Figures due at 0830 GMT are expected to show UK annual CPI inflation staying high at 2.8 per cent. Sterling was up 0.1 per cent against the dollar at $1.5304 , recovering from a low of $1.5269 hit on Monday. However, it remained well below last week's peak of $1.5412, which was its highest level since Feb. 20. The euro was up 0.15 per cent at 85.39 pence, staying comfortably above the April 1 low of 84.115 pence.

Yuan closes at record high for third day as PBOC sets strong midpoint
The yuan closed at another record high against the dollar for the third straight day on Tuesday after the central bank set an unusually strong midpoint, but traders in the offshore market are signalling they think the currency is set to peak.

DAILY MARKET STATISTICS

CURRENCY
EURINR EURINR EURINR GBPINR GBPINR JPYINR JPYINR USDINR USDINR USDINR

EXPIRY
26-Apr-2013

OPEN
71.2500 71.8000 72.0000 83.5000 86.7900 56.4975 57.3500 54.7150 55.0000 55.3500

HIGH
71.3775 71.8000 72.0000 83.6000 86.7925 56.4975 57.3500 54.7500 55.0475 55.3500

LOW
70.9125 71.3325 71.6950 82.9200 83.3925 55.3900 55.7350 54.1950 54.5175 54.8400

CLOSE
71.0950 71.5125 71.9000 82.9825 83.4250 55.4625 55.7675 54.2300 54.5500 54.8675

29-May-2013

26-Jun-2013

26-Apr-2013

29-May-2013

26-Apr-2013

29-May-2013

26-Apr-2013

29-May-2013

26-Jun-2013

RBI REFERENCE RATE (As on 16TH April 2013)

UNDERLYING USDINR EURINR GBPINR JPYINR RATE 54.3290 71.0531 83.1723 55.7000

USDINR DAILY ANALYSIS

PIVOT POINTS
S1-54.0417 S2-53.8533 PP-54.3833 R1-54.5717 R2-54.9133

EURINR DAILY ANALYSIS

PIVOT POINTS S1- 70.8792 S2-70.6633 PP-71.1283 R1-71.3442 R2-71.5933

GBPINR DAILY ANALYSIS

PIVOT POINTS

S1- 82.7350 S2-82.4875 PP-83.1675 R1-83.4150 R2-83.8475

JPYINR DAILY ANALYSIS

PIVOT POINTS

S1- 55.0758 S2- 54.6892 PP-55.7867 R1- 56.1733 R2- 56.8842

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