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R WE EEKLY P O R T
on the news. right.

10 JUNE - 14 JUNE 2013

Buy on fear, sell on greed. Buy on the rumor, sell

The trend is your friend. Amateurs want to be

Professionals want to make money.

MARKET EVENTS

MARKET OUTLOOK
The Indian rupee has been the worst performing currency against the Asian basket in the last one month. It depreciated 5.5% against the US dollar in May and extended its underperformance in the month of June as well. The rupee breached 57 per dollar today and was just a few paise short of record lows of 57.32 which it hit in June 2012. While the global cues are all over the place, things back home lack clarity and are weighing on the rupee. The concerns on high Current Account Deficit and weak equities are impacting the currency. KEY RATES As on 07/06/2013

Indian rupee falls most in a week on heavy dollar demand. Rupee may plunge further to 57.80 driven by domestic, global factors. Yuan flat even as midpoint at new peak, market finds equilibrium.
CURRENCI ES
USDINR EURINR GBPINR JPYINR

PREVIOUS RATE
56.7925 73.7200 86.3000 56.5475

CURRENT RATE
57.2525 75.8675 89.0775 59.8475

% CHANGE
0.80 2.91 3.21
CRR REFERENCE RATE (USD) REPO RATE REVERSE REPO

56.7445 7.25% 6.25% 4% 5.96%

5.83

INFLATION

USDINR

USDINR on weekly charts is exhibiting higher highs and higher lows since last six consecutive weeks. Immediate crucial mark seen is 57.5200 ahead surpassing which it will lead towards new highs near 58.0000. However, If some correction took place then on lower side 56.5000 is seen as strong support below which 55.5500 will act as next important support. EURINR

EURINR after giving closing above 73.5500 last week continued its bull rally this week also and resisted near 76.0000 level. On continuation of this rally it may lead towards new highs. On any correction support is found in the range of 74.8500-74.4000.

PIVOT TABLE CURRENCI ES

USDINR EURINR GBPINR JPYINR

S1
56.8500 75.5000 88.6000 59.4000

S2
56.5000 75.1000 88.2000 58.8000

S3
56.0000 74.5000 87.6000 58.1000

R1
57.5500 76.2000 89.5000 60.2000

R2
57.8500 76.5000 89.8500 60.8000

R3
58.2000 76.9000 90.2000 61.5000

Dollar Strengthens as U.S. Jobs Data Back Fed Taper Speculation. Pound Surges Most in 3 Years on Signs U.K. Economy Strengthening. INTERNATIONAL UPDATES Canadian Dollar Has Biggest Gain Since 2011 BLOOMBE on Surge in Jobs. PREVIOUS
TIME COUNTRY EVENT RG ESTIMATE LEVEL -

DATE

12-June2013 13-June2013 13-June2013 14-June2013

06:0 0 PM 06:0 0 PM 06:0 0 PM

INDIA

IIP Core Retail Sales Unemployme nt Claims

US

0.3%

-0.2%

US

354k

346k

US

PPI m/m

0.1%

-0.7%

DISCLAIMER

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