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DAILY FOREX REPORT RESEARCH VIA 12/4/2013

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MARKET HEADLINES

 Sterling rises versus dollar on hopes of no UK recession Sterling gained against the dollar on Wednesday, keeping close to a seven-week peak after solid industrial output increased the chances that the UK has avoided slipping into recession. The pound also rose to a three-and-a-half year peak against the yen, as the Japanese currency continued to suffer in the wake of last week's radical monetary easing measures announced by the Bank of Japan. The pound was up 0.1 percent at $1.5330, near a peak of $1.5364 hit on Friday when poor U.S. jobs data knocked the dollar. Charts (Forex Tips) showed the pound held above support at the 55day moving average at $1.5323, while traders reported bids above $1.5300.

 Dollar falls to six-week low versus Swiss franc Dollar fell to a six week low versus the Swiss franc on Wednesday as the Swiss currency was supported by marked gains against the struggling Japanese yen. The U.S. currency was down 0.3 percent on the day against the franc at 0.92955 francs, its lowest since Feb 28. The Swiss franc rose to around 107.0 yen, its highest since August 2011.

 Rupee gains, awaiting macro data for cues The rupee rose on Wednesday as domestic shares recovered from a five-day slump, though concerns about recent heavy foreign outflows and dollar demand from oil importers kept gains in the local currency tips in check. The partially convertible rupee closed at 54.52/53 per dollar, marginally stronger compared with its Tuesday's close of 54.58/59. It traded in a 54.40-54.5650 band in the session.


DAILY MARKET STATISTICS CURRENCY

EXPIRY

OPEN

HIGH

LOW

CLOSE

EURINR

26-Apr-2013

71.3350

71.5825

71.3325

71.5475

EURINR

29-May-2013

71.8250

72.0150

71.8125

71.9800

EURINR

26-Jun-2013

72.1525

72.3000

72.1525

72.3000

GBPINR

26-Apr-2013

83.6950

83.7775

83.5850

83.6200

GBPINR

29-May-2013

84.0875

84.2050

84.0450

84.0775

JPYINR

26-Apr-2013

55.2000

55.2600

54.5500

54.9525

JPYINR

29-May-2013

55.3075

55.6100

55.2675

55.2950

USDINR

26-Apr-2013

54.6050

54.6900

54.5150

54.6525

USDINR

29-May-2013

55.0800

55.0800

54.8500

54.9950

USDINR

26-Jun-2013

55.3500

55.3500

55.1700

55.2750

RBI REFERENCE RATE (As on 10TH April 2013) UNDERLYING

RATE

USDINR

54.5340

EURINR

71.3260

GBPINR

83.5952

JPYINR

55.0300


USDINR DAILY ANALYSIS

PIVOT POINTS  S1-54.4983  S2-54.4342  PP-54.5942  R1-54.6583  R2-54.7542


EURINR DAILY ANALYSIS

PIVOT POINTS  S1- 71.3925  S2-70.2375  PP-71.4875  R1-71.6425  R2-71.7375


GBPINR DAILY ANALYSIS

PIVOT POINTS

 S1- 83.5442  S2-83.4683  PP-83.6608  R1-83.7367  R2-83.8533


JPYINR DAILY ANALYSIS

PIVOT POINTS

 S1- 54.5817  S2- 54.2108  PP-54.9208  R1- 55.2917  R2- 55.6308


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