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Currency Daily Report, April 30

Currency Daily Report, April 30

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Published by Angel Broking
30th April, 2013
30th April, 2013

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Categories:Business/Law
Published by: Angel Broking on Apr 30, 2013
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Currencies Daily Report
 
Tuesday| April 30, 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 in
part, by any recipient hereof for any purpose without prior permission from “Ange
l Broking
Ltd”. Your feedback is appreciated on
Research Team
Vedika Narvekar - Sr. Research Analyst
vedika.narvekar@angelbroking.com(022) 2921 2000 Extn :6130
Saif Mukadam
 –
Research Analyst
saif.mukadam@angelbroking.com(022) 2921 2000 Extn :6136
Anish Vyas - Research Analyst
anish.vyas@angelbroking.com(022) 2921 2000 Extn :6104
Overview:
 
 
Currencies Daily Report
 
Tuesday| April 30, 2013
 
www.angelbroking.com
 
Highlights
US Pending Home Sales increased by 1.5 percent in March
.
Japan’s
Unemployment Rate declined to 4.1 percent in last month.
UK’s GfK Consumer Confidence was at
-27-mark in the current month.
Japan’s Manufacturing PMI increased to 51.1
-mark in April.Asian markets are trading higher today on the back of favorableeconomic data from US and Japan coupled with expectations thatcentral banks over the world will continue with its monetary policies.US Personal Spending rose at slow pace of 0.2 percent in March asagainst a rise of 0.7 percent a month ago. Personal Income grew by 0.2percent in March from earlier increase of 1.1 percent in prior month.Pending Home Sales increased by 1.5 percent in March with respect todecline of 1 percent a month earlier.
US Dollar Index
The US Dollar Index (DX) declined by 0.4 percent in the
yesterday’s
trading session on the back of rise in risk appetite in the global marketsentiments which led to decline in demand for the low yielding currency.Additionally, favorable pending home sales data from US acted as anegative factor for the DX.Further, US equities traded on a positive note which also exerteddownside pressure on the currency. The currency touched an intra-daylow of 82.10 and closed at 82.20 on Monday.
Dollar/INR
The Indian Rupee appreciated by 0.4
percent in yesterday’s trading
session. The currency appreciated on account of selling of dollars fromexporters and custodian banks. Additionally, upbeat global and domesticmarket sentiments coupled with weakness in the DX supported anupside in the currency.Further, expectations of cut in the key rates by the central banks of thecountry in its review meeting to be held on 3rd May also acted as apositive factor for the Indian Rupee. The currency touched an intra-dayhigh of 54.158 and closed at 54.18 against dollar on Monday.For the month of April 2013, FII inflows totaled at Rs.4,753.40 crores($878.54 million) as on 29th April 2013. Year to date basis, net capitalinflows stood at Rs.60,375.70 crores ($11,188.60 million) till 29th April2013.
Outlook
From the intra-day perspective, we expect Indian Rupee to appreciateon the back of rise in risk appetite in the global market sentimentscoupled with weakness in the DX. Further, expectations of rise in foreignfunds inflows cut in the interest rates by central bank along with sellingof dollars from exporters and custodian banks will support an upside inthe currency.
Market Highlights
(% change)
 
as on April 29, 2013
LastPrev.dayWoW MoMYoYNIFTY
5904.1 0.6 1.2 3.5 13.8
SENSEX
19387.5 0.5 1.1 2.8 6.0
DJIA
14818.75 0.7 1.7 1.1 12.0
S&P
1593.6 0.7 2.0 1.6 13.6
FTSE
16929.7 2.2 5.7 11.4 14.6
KOSPI
1940.7 -0.2 0.7 -2.3 -0.3
BOVESPA
58497.8 0.2 7.7 5.3 -5.4
NIKKEI
13884.1 -0.3 -0.1 9.9 45.8
Nymex Crude(May13) - $/bbl
94.50 1.6 6.5 -2.8 -9.9
Comex Gold(
June’
13) - $/oz
1467.40 3.1 5.2 -8.3 -10.6
ComexSilver(
May’13
) $/oz
2412.20 0.0 3.4 -11.4 -23.0
LME Copper (3month) -$/tonne
7125.00 1.2 2.9 -9.2 -15.4
CRB Index(Industrial)
- - - - -
G-Sec -10 yr @7.8% -Yield
102.09 0.0 -0.3 - 1.2
Source: Reuters
US Dollar
(% change)
 
as on April 29, 2013
 
LastPrev.dayWoW MoM YoYDollar Index
82.20 -0.4 -0.8 -0.8 3.5
US $ / INR (Spot)
54.18 0.4 0.0 0.0 -3.0
US $ / INR
May’13
 Futures (NSE)
54.41 0.23 0.56 -0.48 2.87
US $ / INR May
’1
3Futures (MCX-SX)
54.41 0.22 0.55 -0.48 2.87
Technical Chart
 –
USD/INR
Source: Telequote
Technical Outlook
valid for April 30, 2013
 
Trend Support ResistanceUS Dollar/INR May
’1
3(NSE/MCX-SX)
Down 54.25/54.07 54.55/54.72
 
 
Currencies Daily Report
 
Tuesday| April 30, 2013
 
www.angelbroking.com
 Euro
(% change)
 
as on April 29, 2013
 
Last Prev. day WoW MoM YoYEuro /$ (Spot)
1.3097 0.5 0.2 1.9 -1.2
Euro / INR (Spot)
70.94 0.0 -0.3 -1.5 -
Euro / INR May
’1
3Futures (NSE)
71.2 0.63 0.81 1.61 1.68
Euro / INR May
’1
3Futures (MCX-SX)
71.2 0.66 0.84 1.62 1.70
Source: Reuters
Technical Chart
 –
Euro
Source: Telequote
 GBP
(% change)
 
as on April 29, 2013
 
Last Prev. day WoW MoM YoY$ / GBP (Spot)
1.5499 0.14 1.4 1.8 -4.7
GBP / INR (Spot)
84.021 -0.260 1.49 1.89 -1.68
GBP / INRMay
’1
3 Futures(NSE)
84.40 0.63 2.37 2.01 -1.56
GBP / INR May
’1
3 Futures(MCX-SX)
84.38 0.62 2.34 1.99 -1.58
Source: Reuters
 
Technical Chart
 –
Sterling Pound
Source: Telequote
 
Euro/INR
The Euro appreciated by 0.5
percent in yesterday’s trade on the back of 
optimistic global market sentiments coupled with weakness in DX.Further, decline in borrowing cost for Italy supported an upside in thecurrency. However, sharp gains in the euro were capped on the back of expectation of interest rate cut by ECB.European Raw Materials Price Index (RMPI) increased by 0.5 points to44.2-mark in April as against a rise of 43.7-level in March. The Eurotouched an intra-day high of 1.3115 and closed at 1.3097 against dollaron Monday.
Outlook
In today’s session, we expect Euro to appreciate on the back of upbeat
global market sentiments along with weakness in the DX. Further,expectation of favorable economic data from Spain and Germany maysupport currency to gain strength. However, unemployment rate in Eurozone is expected to increase which may cap sharp upside in the Euro.
 
Technical Outlook
valid for April 30, 2013
Trend Support ResistanceEuro/INR May
’1
3(NSE/MCX-SX)
Sideways 71.05/70.8 71.35/71.5
GBP/INR
The Sterling Pound appreciated by 0.14
percent in yesterday’s trade on
 the back of optimistic global market sentiments. Further, weakness inthe DX supported the currency to trade in green. Additionally,expectation of further monetary stimulus easing by Bank of England gotfaded acted as a positive factor.
UK’s GfK Consume
r Confidence was at -27-mark in April as against a fallof 26-level in March. The Sterling Pound touched an intra-day high of 1.5546 and closed at 1.5499 against dollar on Monday.
Outlook
We expect Sterling Pound to trade on a positive note on account of risein risk appetite in the global market sentiments coupled with weaknessin DX. However, expectation of unfavorable economic data from UK maycap sharp gains in the currency.Technical Outlook
valid for April 30, 2013
Trend Support ResistanceGBP/INR May
’1
3(NSE/MCX-SX)
Sideways 84.25/84.1 84.55/84.7

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