DAILY FOREX REPORT RESEARCH VIA 5/14/2013
Rupee near two-month low; down 14 paise vs dollar The rupee was trading weaker at 54.94/95 versus its close of 54.80/81 on Friday as sharp losses in domestic shares and a broadly strong dollar hurt. The Indian currency fell to as low as 55.01 earlier in the session, its lowest since March 4. The main share index was trading down 1 per cent. Oil and gold prices fell on Monday as the dollar strengthened, weighing on Asian shares, but Japanese equities outperformed on the back of the yen's slide to a fresh 4-1/2-year low against the US currency.
Swiss franc near 8-1/2 month low vs dollar before US data The Swiss franc hovered close to last week's 8-1/2 month low against the dollar on Monday, and was stronger against the euro, with investors cautious before US retail sales. US retail sales in April are expected to have fallen 0.3 percent monthon-month, according to a Reuters poll. The franc was virtually unchanged against the dollar to trade at 0.95630 by 0720 GMT compared to the New York close. The franc strengthened 0.1 percent against the euro.
Yen drops further as G7 avoids criticising Japan The yen suffered fresh losses on Monday after Group of Seven finance officials avoided direct criticism of Japan's monetary policy, which has pushed its currency to four-year lows. The yen hit 102.15 yen per dollar, its lowest since October 2008, on trading platform EBS as investors saw the G7 outcome as a green light to sell the currency. It was last steady at 101.65 yen, with traders saying investors took profit from the dollar's rise above 102 yen.
DAILY MARKET STATISTICS CURRENCY
RBI REFERENCE RATE (As on 13TH MAY 2013) UNDERLYING
USDINR DAILY ANALYSIS
PIVOT POINTS S1-54.67692 S2-54.6433 PP-54.9758 R1-55.1017 R2-55.3083
EURINR DAILY ANALYSIS
PIVOT POINTS S1- 71.1658 S2-71.0767 PP-71.3442 R1-71.4333 R2-71.6117
GBPINR DAILY ANALYSIS
S1-84.2025 S2-84.0800 PP-84.4475 R1-84.5700 R2-84.8150
JPYINR DAILY ANALYSIS
S1- 53.9508 S2- 53.8092 PP-54.1442 R1- 54.2858 R2- 54.4792
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Published on May 14, 2013
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