DAILY FOREX REPORT RESEARCH VIA 5/7/2013
Rupee near 1-week low; defence buying rumored The rupee fell to near 1-week high on talk of continued defence buying, said dealers. Outflows related to large petrochemical firm also doing rounds, said dealers. The rupee fell to 54.16, the lowest since May 1 and is currently at 54.13/14, versus its close of 53.935/945 on Friday. Dealers are also outwatching for inflows related to Qatar picking up a stake in Bharti AirtelBSE 0.72 % for $1.26 billion.
Swiss franc steady against dollar amid easing concern The Swiss franc was steady against the dollar, which held gains made late last week after better-than-expected US jobs data eased concerns about the outlook for the world's largest economy. US employment rose more than expected in April and hiring was much stronger than previously thought in the prior two months. The jobless rate also fell to 7.5 per cent, the lowest since December 2008, data showed on Friday. This week, currency dealers will watch Tuesday's Swiss unemployment report for April as well as Wednesday's inflation reading for the same month, Huenerwadel said. The franc was unchanged against the dollar to trade at 0.935 by 0610 GMT compared to the New York close. The franc was virtually unchanged against the euro.
Dollar extends gains against yen on better US outlook The dollar rose against the yen on Monday as optimism about the US economy resurfaced after Friday's above-forecast jobs data while the euro struggled on more evidence of euro zone weakness. This was a change from the recent perception that the Fed could even step up asset purchases after a run of softer data. The dollar was up 0.4 per cent at 99.39 yen, extending gains after Friday's 1 per cent rise. This brought it nearer the 100 yen mark that has been strong resistance in recent weeks.
DAILY MARKET STATISTICS CURRENCY
RBI REFERENCE RATE (As on 6TH MAY 2013) UNDERLYING
USDINR DAILY ANALYSIS
PIVOT POINTS S1-53.9758 S2-53.6817 PP-54.1592 R1-54.4533 R2-54.6367
EURINR DAILY ANALYSIS
PIVOT POINTS S1- 70.7883 S2-70.4867 PP-70.9992 R1-71.3008 R2-71.5117
GBPINR DAILY ANALYSIS
S1- 84.3350 S2-84.2975 PP-84.4100 R1-84.4475 R2-84.5225
JPYINR DAILY ANALYSIS
S1- 54.5017 S2- 54.2558 PP-54.6708 R1- 54.9167 R2- 55.0858
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