DAILY FOREX REPORT

RESEARCH VIA
5/2/2013

www.researchvia.com

9977785000

MARKET HEADLINES

Rupee at two-week high; gains for second straight month

The rupee rose to its highest level in two weeks on Tuesday, strengthening for a second straight month, after a cut in tax on interest payment to foreigners on debt raised hopes of more dollar inflows. The partially convertible rupee closed at 53.80/81 per dollar compared with its close of 54.23/24 on Monday. The unit rose to as high as 53.79, its strongest since April 17. On the month, the rupee gained 0.9 per cent taking its total gains in 2013 to 2.2 per cent.

Sterling dips against the dollar, seeking signs of UK improvement

Sterling slipped against the dollar on Tuesday, slipping away from a two-and-a-half month high, in the absence of any new evidence of further improvement in the UK economy. The US Federal Reserve begins a two-day meeting on Tuesday, also making investors cautious. The pound was down 0.1 per cent at $1.5490, off a Monday's peak of $1.5547 when it stopped shy of its 100-day moving average of $1.5567 and its $1.5561 21-week average.

Euro slips but dollar weakness to limit fall

The euro fell on Tuesday, hurt by slowing consumer demand in Germany, although losses are likely to be limited by expectations the Federal Reserve's ultra-loose policy will be maintained and weigh on the dollar. German retail sales fell for the second month running in March, confounding forecasts of a rise. The euro was down 0.2 per cent at $1.3070 with traders citing offers layered above $1.3110 and $1.3150 and chart resistance at its 100-day moving average of $1.3158. Near-term support was at its 55-day moving average of $1.3044.

DAILY MARKET STATISTICS

CURRENCY
EURINR EURINR EURINR GBPINR GBPINR JPYINR JPYINR USDINR USDINR USDINR

EXPIRY
29-May-2013 26-Jun-2013 29-Jul-2013 29-May-2013 26-Jun-2013 29-May-2013 26-Jun-2013 29-May-2013 26-Jun-2013 29-Jul-2013

OPEN
71.0325 71.3750 71.2700 84.1000 84.4500 55.5900 55.7850 54.3775 54.8400 54.9300

HIGH
71.2675 71.5800 71.2700 84.3400 84.6000 55.7125 56.0000 54.4300 54.8400 54.9650

LOW
70.4900 70.8200 71.1375 83.4175 83.8075 55.3025 55.6050 53.9225 54.1900 54.4900

CLOSE
70.5450 70.8550 71.1375 83.4725 83.8650 55.3675 55.6450 53.9475 54.2075 54.5000

RBI REFERENCE RATE (As on 30TH April 2013)

UNDERLYING USDINR EURINR GBPINR JPYINR RATE 54.2190 70.9775 84.0015 55.4700

USDINR DAILY ANALYSIS

PIVOT POINTS
S1-53.7717 S2-53.5958 PP-54.1008 R1-54.2767 R2-54.6058

EURINR DAILY ANALYSIS

PIVOT POINTS S1- 70.2708 S2-69.9967 PP-70.7692 R1-71.0433 R2-71.5417

GBPINR DAILY ANALYSIS

PIVOT POINTS

S1- 83.1467 S2-82.8208 PP-83.7433 R1-84.0692 R2-84.6658

54.9950

JPYINR DAILY ANALYSIS

PIVOT POINTS

S1- 55.2108 S2- 55.0542 PP-55.4592 R1- 55.6258 R2- 56.8642

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