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R E E K L Y E P O R T
Buy on fear, sell on greed. The trend is your friend.

07 APRIL - 11 APRIL 2014

Buy on the rumor, sell on the news.

Amateurs want to be right.

Professionals want to make money.

MARKET EVENTS Rupee off lows as foreign banks sell Dollars. Sterling on weaker run after data, dollar gains. Yuan weakens but stabilises for week on PBOC guidance. Euro weakens in Asia after Draghi comments.

MARKET OUTLOOK
The rupee ended stronger on Friday after trading weaker for most part of the session on the back of a retreat in domestic shares from record highs. Lack of large demand and foreign bank selling in late trade helped the rupee notch up some gains. The week, however, was volatile and was also marked by heavy dollar buying by the central bank looking to replenish its foreign exchange reserves and slow down the rise in the rupee. Latest data showed foreign exchange reserves rose by $5.04 bn to $303.67 bn in the week. Sentiments are cautious ahead of India's five-week general elections set to kick off.

CURRENCIES

PREVIOUS RATE
60.1675 82.6050 99.9575 58.7700

CURRENT RATE
60.4400 82.8125 100.1850 58.1900

KEY RATES As on 04/04/2014

% CHANGE
REFERENCE RATE (USD)

60.3210 8% 7% 4% 4.68%

USDINR EURINR GBPINR JPYINR

0.45
REPO RATE

0.25 0.22 -0.98

REVERSE REPO CRR INFLATION

USDINR

USDINR last week strongly rebounded from deeper supports as it violated 60.0000 mark and moved towards 23.6% retracement and closed the week on a flat to positive note. If it sustains above 60.7500 then some upmove is expected and next resistance zone is seen near 61.000061.2500. On lower side, major support is seen around 59.9500 from current levels.

EURINR

EURINR last week also traded around the major support 82.8500 and closed around it. Strength can be seen if it holds above the resistance of 83.6000 and it may lead towards the higher resistance around 84.0000 mark. On the other hand if bearishness continues then immediate support is seen at 82.4000 below which selling pressure may increase.

PIVOT TABLE CURRENCIES

USDINR EURINR GBPINR JPYINR

S1
59.9000 82.0000 99.7000 57.7000

S2
59.3000 81.2000 99.1000 57.0000

S3
58.5000 80.4000 98.5000 56.3000

R1
61.1000 83.4000 100.9000 58.8000

R2
61.7000 84.0000 101.6000 59.5000

R3
62.2000 84.5000 102.2000 60.2000

INTERNATIONAL UPDATES
Brazil Real Rises Most in Emerging Markets on Rollovers. Canadian Dollar Climbs to Strongest in Six Weeks on Jobs Growth. Mexicos Currency Advances Most in Two Months on Export Outlook.
BLOOMBERG ESTIMATE 3.99M PREVIOUS LEVEL 3.97M

DATE

TIME 07:30 PM 11:30 PM 06:00 PM 05:30 PM

COUNTRY

EVENT JOLTS Job Openings FOMC Meeting minutes Unemployment Claims

08-April-2014

US

09-April-2014

US

10-April-2014

US

314k

326k

11-April-2014

US

IIP

DISCLAIMER

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