WEEKLY FOREX REPORT 7th JANUARY 2012
ďƒ˜ HEADLINES Race for weakness to see euro, sterling gain in 2013 The yen and dollar face a tough 2013 as the Japanese and U.S. central banks print money furiously to stimulate their economies, making the euro and sterling unlikely relative winners despite Europe's gloomy prospects.With a global economic recovery looking shaky, analysts say the major central banks will be happy to see their currencies weaken this year if it helps their exporters to become more internationally competitive.
ďƒ˜ RBI REFERENCE RATE As on 4THJANUARY 2012
Pound retreats after weak services PMI as dollar gains Sterling fell to its lowest in more than three weeks against the dollar on Friday after weak UK services data and as the dollar rose broadly after some U.S.
have contracted in the fourth quarter of 2012 following
a third quarter rebound.
policymakers called for monetary stimulus to be slowed.Britain's dominant service sector shrank for the first time in two years in December, a purchasing managers' survey showed, suggesting the economy may
Forex reserves up by $39.4 million to $296.58 billion The country's forex reserves increased by $ 39.6 million to $ 296.578 billion on the back of rise in currency assets during the week ended December 28, the Reserve Bank said today.
DAILY MARKET STATISTICS (As on 4thJANUARY 2012)
Symbol CHILLI EUR-INR GUR
Series/Expiry 7/19/2012 5060Unit 29-Jan-2013 7/19/2012
5120 Low 5018 Close -102
1 EUR 1188 71.65001178 72.0425 1188 1183.571.57001178 71.9600 -5.5
26-Feb-2013 1 EUR 1496071.8400 7/19/2012 14955 14650 72.2775 15052.571.8125 14800 72.1825 -252.5
1 GBP 1053 88.60001035 88.6950 1044 1049 88.21251041 88.5950-8
26-Feb-2013 42300 1 GBP 4255588.5700 7/19/2012 42250 88.9700 42390 88.5125 42435 88.8575 45
100 JPY 783.6 62.7325 780.5 777.4 62.8350 782.8562.5125781.3 62.7100 -1.55
100 JPY 4330 62.9050 4309 4265.5 63.0575 4303 62.75254315 62.9050 12
1 USD 4676 54.83004518 55.3900 4600 4664 54.83004540 55.3325 -124
1 USD 1282 55.16001251 55.6325 1251 1246 55.16001282 55.5800 36
WEEKLY USD/INR CHART
ANALYSIS OPEN: 55.0000 HIGH: 55.3900 LOW: 54.4700 CLOSE: 55.3300
USD/INR LOOKS SIDEWAYS TREND: CONSOLIDATED STRATEGY: BUY ON DIPS
WEEKLY EUR/INR CHART
ANALYSIS OPEN: 72.6400 HIGH: 72.9900 LOW: 71.4500 CLOSE: 71.9600
EUR/INR LOOKS SIDEWAYS TREND: CONSOLIDATED STRATEGY: BUY ON DIPS
FOREX FORTHCOMING EVENTS DAY
Asset Purchase Facility
Official Bank Rate
MPC Rate Statement
Minimum Bid Rate
ECB Press Conference
Manufacturing Production m/m
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