DAILY FOREX REPORT RESEARCH VIA 10/6/2013
Rupee weakens past 57/dollar, closes in on record low The rupee weakened below 57 to the dollar on Friday to approach a record low hit about a year ago, reflecting caution ahead of the U.S. monthly jobs data and falls in most emerging market currencies. The rupee was trading at 57.06/07 to the dollar at 0809 GMT, marking its lowest level since late June 2012, when the currency hit a record low of 57.32. The rupee closed at 56.84/85 on Thursday.
Yuan flat even as midpoint at new peak, market finds equilibrium The yuan was flat on Friday even as the central bank set the official guidance rate at an all-time high after the dollar plunged in overnight trade. The dollar index, which tracks the dollar's value against a basket of currencies, hit 81.077 in overnight trade, its lowest level since late February, as markets awaited US jobs data. The People's Bank of China (PBOC) set the midpoint at 6.1620 on Friday morning, up 0.19 per cent from Thursday and a new high. But spot yuan declined to follow the midpoint and stayed relatively flat, changing hands at 6.1355 per dollar at midday, up only 0.01 per cent from Thursday's close.
Aussie, kiwi dollars pressured by weak stocks, bonds rally The Australian and New Zealand dollars fell near multi-month lows on Friday as Asian equities took a beating in a tense market ahead of key US labour data. The Aussie slipped 0.8 per cent on the day to $0.9485, pulling closer to a 20-month low of $0.9427 hit on Thursday. It looked set to end the week lower for the fifth consecutive time, showing a decline of around 1 per cent.
DAILY MARKET STATISTICS CURRENCY
RBI REFERENCE RATE (As on 7TH JUNE 2013) UNDERLYING
USDINR DAILY ANALYSIS
PIVOT POINTS S1-56.9692 S2-56.6858 PP-57.1483 R1-57.4317 R2-57.6108
EURINR DAILY ANALYSIS
PIVOT POINTS S1- 75.3375 S2-74.8075 PP-75.6425 R1-76.1725 R2-76.4775
GBPINR DAILY ANALYSIS
S1-88.6933 S2-88.3092 PP-88.9592 R1-89.3433 R2-89.6092
JPYINR DAILY ANALYSIS
S1- 58.3408 S2- 56.8342 PP-59.1567 R1- 60.6633 R2- 61.4792
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