DAILY FOREX REPORT

RESEARCH VIA
12/7/2013

www.researchvia.com

9977785000

MARKET HEADLINES

Rupee up 24 paise vs US dollar in early trade

The rupee today rose by 24 paise to 59.41 in early trade at the Interbank Foreign Exchange market as the dollar weakened against other major rivals overseas after US Federal Reserve Chairman Ben Bernanke said its huge stimulus programme would stay in place for some time.The rupee had gained 49 paise, the most since June 28, to close at 59.65 against dollar in yesterday's trade, after the RBI and Sebi took steps to curb volatility.Meanwhile, the BSE benchmark Sensex rose by 290.26 points, or 1.50 per cent, to 19,584.38 in early trade today.

Dollar tumbles after dovish Bernanke trip up bulls

The dollar tumbled on Thursday after dovish comments from Federal Reserve Chairman Ben Bernanke forced traders to trim their long positions on the greenback, as markets reassessed expectations that the Fed would start to reduce stimulus as early as September. Bernanke's comment came during early Asian trading hours, when market liquidity is at its lowest, promoting a rapid barrage of stop-loss selling of the dollar, possibly exaggerating price action, traders said. The euro roared to a three-week high of $1.32085 at one stage, up more than 3 per cent from Wednesday's low of $1.2765. It easily spiked above $1.3010, the 38.2 per cent retracement of its June-July fall, then $1.3167, the 61.8 per cent level. The euro last traded at $1.3090, up 0.9 per cent on the day. The dollar also fell against the yen, dropping to a two-week low of 98.20 yen, though it held above a key support from the cloud bottom on the daily Ichimoku charts at 98.155.

DAILY MARKET STATISTICS

CURRENCY
EURINR EURINR EURINR GBPINR GBPINR JPYINR JPYINR USDINR USDINR USDINR

EXPIRY
29-Jul-13 28-Aug-13 26-Sep-13 29-Jul-13 28-Aug-13 29-Jul-13 28-Aug-13 29-Jul-13 28-Aug-13 26-Sep-13

OPEN
77.7000 77.8000 78.0125 89.6500 89.9000 60.0225 60.3000 59.8425 59.9025 60.0000

HIGH
78.3500 78.6050 78.7250 90.7825 91.0000 60.6425 60.8525 60.0925 60.3000 60.4900

LOW
77.7000 77.8000 78.0125 89.6500 88.9600 60.0225 60.3000 59.4300 59.6700 59.8850

CLOSE
78.1975 78.4175 78.7000 90.5100 90.7425 60.3350 60.5250 59.8925 60.0800 60.2650

RBI REFERENCE RATE (As on 11TH JUNE 2013)

UNDERLYING USDINR EURINR GBPINR JPYINR RATE 59.6420 77.9850 90.1370 60.4000

USDINR DAILY ANALYSIS

PIVOT POINTS
S1-59.3175 S2-59.0425 PP-59.7050 R1-59.9800 R2-60.3675

EURINR DAILY ANALYSIS

PIVOT POINTS S1- 77.8150 S2-77.4325 PP-78.0825 R1-78.4650 R2-78.7325

GBPINR DAILY ANALYSIS

PIVOT POINTS

S1-89.8458 S2-89.1817 PP-90.3142 R1-90.9783 R2-91.4467

54.9950

JPYINR DAILY ANALYSIS

PIVOT POINTS

S1- 60.0242 S2- 59.7133 PP-60.3333 R1- 60.6442 R2- 60.9533

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