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Daily Currency Report 3rd Jan

Daily Currency Report 3rd Jan

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Published by Angel Broking
Angel Broking's Daily Currency Report for 3rd Jan
Angel Broking's Daily Currency Report for 3rd Jan

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Categories:Business/Law
Published by: Angel Broking on Jan 03, 2013
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Currencies Daily Report
 
Thursday| January 03, 2013
 
www.angelbroking.com
 
Content 
OverviewUS DollarEuroGBPJPYEconomic Indicators
Angel Broking Ltd.
Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000Currency: INE231279838 / MCX Currency Sebi Regn No: INE261279838 / Member ID: 10500
Disclaimer:
The information and opinions contained in the document have been compiled from sources believed to be reliable. The company does not warrant its accuracy, completeness andcorrectness. The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. This document may not be reproduced, distributed or published, in whole or inpart, by any recipient hereof for any purpose without prior permission from “Angel Broking Ltd”. Your feedback is appreciated on 
currencies@angelbroking.com
Research Team
Fundamental Team
Nalini Rao - Sr. Research Analystnalini.rao@angelbroking.com (022) 2921 2000 Extn. 6135Anish Vyas - Research Analystanish.vyas@angelbroking.com(022) 2921 2000 Extn. 6104
Overview:
 
 
Currencies Daily Report
 
Thursday| January 03, 2013
 
www.angelbroking.com
 
Highlights
 
US ISM Manufacturing PMI rose to 50.7 levels in December
 
German Prelim CPI gained to 0.9 percent in the December.
 
UK Manufacturing PMI rose to 51.4 levels in December.
 
Spanish Manufacturing PMI fell to 44.6 levels in last month.
 
Italian Manufacturing PMI rose to 46.7 levels in last monthAsian markets are trading on a firm note on optimism that the US,largest economy of the world is on the path of recovery as themanufacturing data from the nation came on a favorable note. On theother hand the investors are also looking ahead for the negotiations onthe US debt limit and spending cuts which need to be resolved.US Final Manufacturing Purchasing Managers' Index (PMI) fell by 0.2points to 54-mark in December as against a rise of 54.2-level inNovember. The Institute for Supply Management (ISM) ManufacturingPMI increased by 1.2 points to 50.7-level in December as against 49.5-mark in last month.
US Dollar Index
US Dollar Index (DX) remained volatile throughout the day. The indexended 0.1 percent higher in yesterday’s session. The index remainedweak in most part of the day as US law makers were able to agree onthe fiscal cliff issue. This caused positive market sentiments andreduced the demand for the low yielding currency that is US DollarIndex. However, towards the end of the session weakness in the indexwere erased as the upbeat sentiments faded. This was on account thateven though the legislation is passed to avert the fiscal cliff, thedifferences over the budget amongst the law makers still persist whichcould erupt again in the month of February.US equities settled higher in yesterday’s session. Equities witnessedstrength due to firm sentiments created after the US law makes wereable to pass a legislation to avert the fiscal cliff issue. Additionally,favorable economic data from the nation also supported an upside inthe stocks. The index touched an intra-day high of 80.03 and closed at79.91 on Wednesday.
Dollar/INR
The Indian Rupee appreciated 0.8 percent on Wednesday taking cuesfrom the positive global market sentiments after the US law makerswere able to avert the fiscal cliff issue. Sustained capital inflows fromthe foreign institutions also supported appreciation in the currency.The rupee closed at 54.23 after touching an intra-day high of 54.23 onWednesday.For the current month 2013 FII inflows totaled at Rs 1,689.40 crores till2
nd
January 2013. While year to date basis, net capital inflows for theyear 2013 stood at Rs. 1689.30 crores.
Outlook
From the intra-day perspective, we expect Indian Rupee to appreciatedue to firmness in the Asian markets along with weakness in the DX.Sustained capital inflows from the foreign institution are also expectedto keep the rupee appreciated.
Market Highlights
(% change)
 
as on January 02, 2013
LastPrev.dayWoW MoMYoYNIFTY
5993.3 0.7 1.5 4.6 29.3
SENSEX
19714.2 0.7 1.5 4.6 27.0
DJIA
13412.55 2.4 2.3 3.4 9.8
S&P
1462.4 2.5 3.8 3.76 14.5
FTSE
16893.4 3.4 3.4 6.4 9.3
KOSPI
2031.1 1.7 2.5 4.7 11.2
BOVESPA
 
62550.1 11.1 2.6 7.5 8.2
NIKKEI
10395.2 0.7 -0.1 9.9 22.9
Nymex Crude(Jan’13) - $/bbl
92.79 -0.4 2.0 4.2 -6.1
Comex Gold (Jan’13)- $/oz
1686.80 0.7 1.6 -1.9 7.7
Comex Silver(Jan’13)$/oz
31.00 2.8 3.4 -8.0 11.2
LME Copper (3month) -$/tonne
8200.00 4.9 8.5 2.3 7.6
CRB Index(Industrial)G-Sec -10 yr @7.8% -Yield
100.98 0.0 0.7 1.1 -1.6
Source: Reuter
 
US Dollar
(% change)
 
as on January 02, 2013
 
LastPrev.dayWoW MoM YoYDollar Index
79.91 0.1 0.3 0.0 -0.8
US $ / INR (Spot)
54.23 0.8 1.1 1.0 -1.7
US $ / INR Jan’13Futures (NSE)
54.90 54.99 54.72 55.72 52.79
US $ / INR Jan’13Futures (MCX-SX)
54.90 54.99 54.72 55.72 52.79
Source: Reuter
Technical Chart – USD/INR
Source: Telequote 
Technical Outlook
valid for January 03, 2013
 
Trend Support ResistanceUS Dollar/INR Jan’13(NSE/MCX-SX)
Down 54.40/54.10 54.80/55.05
 
 
Currencies Daily Report
 
Thursday| January 03, 2013
 
www.angelbroking.com
 Euro
(% change)
 
as on January 02, 2013
 
Last Prev. day WoW MoM YoYEuro /$ (Spot)
1.3184 -0.2 -0.3 1.0 2.0
Euro / INR (Spot)
71.53 1.4 1.2 -0.3 #N/A
Euro / INR Jan ’13Futures (NSE)
72.22 -0.68 -0.43 1.02 4.14
Euro / INR Jan’13Futures (MCX-SX)
72.2 -0.69 -0.44 1.01 4.14
Source: Reuter
Technical Chart – Euro
Source: Telequot
 GBP
(% change)
 
as on January 02, 2013
 
Last Prev. day WoW MoM YoY$ / GBP (Spot)
1.6255 0.1 0.7 1.0 4.9
GBP / INR (Spot)
88.14 -0.76 -0.36 0.23 6.63
GBP / INR Jan’13Futures(NSE)
88.8175 -0.52 0.20 0.81 7.05
GBP / INR Jan ’13Futures(MCX-SX)
88.8175 -0.52 0.20 0.81 7.05
Source: Reuter
Euro/INR
Euro fell 0.2 percent in yesterday’s session. The currency had gained inmost part of the trade due to positive market sentiments created afterUS fiscal cliff issue was averted as it was passed in the legislation.Additionally, favorable economic data from the region also added to thegains in the currency. But towards the end of the session gains wereerased as the positive sentiments over the resolution of the fiscal cliffissue faded. Even though the issue has been resolved, differences overthe spending cuts amongst the law makers persisted and could emergeagain in February. The currency touched an intra-day low of 1.3155 andclosed at 1.3184 on Wednesday.Spanish Manufacturing Purchasing Managers' Index (PMI) declined by0.7 points to 44.6-mark in December as against a rise of 45.3-level inNovember. Italian Manufacturing PMI increased by 1.6 points to 46.7-level in December from earlier rise of 45.1-mark in November. EuropeanFinal Manufacturing PMI declined marginally by 0.2 points to 46.1-levelin December as compared to rise of 46.3-mark a month ago.
Outlook
In today’s session we expect Euro to appreciate due to positive globalmarket sentiments along with weakness in the DX.Technical Outlook
valid for January 03, 2013
Trend Support ResistanceEuro/INR Jan’13(NSE/MCX-SX)
Sideways 72.00/71.80 72.55/72.90
GBP/INR
The Pound gained 0.1 percent in yesterday’s session taking cues fromupbeat global market sentiments. Weakness in the DX in most part ofthe trade also supported appreciation in the currency. Additionally,favorable economic data from the region also added to the gains in thecurrency. The currency touched an intra-day high of 1.638 and closed at1.6255 on Wednesday.UK’s Manufacturing Purchasing Managers' Index (PMI) increased by 2.2points to 51.4-level in December from previous rise of 49.2-mark inNovember.
Outlook
In today’s session, we expect Pound to trade with upward bias on theback of firm global market sentiments along weakness in the DX.Favorable data from the nation is also expected to support an upside inthe currency.Technical Outlook
valid for January 03, 2013
Trend Support ResistanceGBP/INR Jan ’13(NSE/MCX-SX)
Down 88.60/88.38 89.00/89.20

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