1. Market
  2. Currency
  3. Currency

Fundamental and Technical View on currencies on February 05, 2013

India Infoline News Service | Mumbai | February 05, 2013 09:39 IST

Dollar/rupee rebounded in evening trades Monday on demand for dollars from oil importers at lower levels and tracking fall in euro.

Fundamental View


USD-INR


Dollar/rupee opened at 15-week lowMonday on higher risk appetite after robust economic data from US as jobs scenario improved and manufacturing rose to 9-month highand China's non-manufacturing PMI rose to four-month high indicating a revival in growth in world's top two economies


Dollar/rupee may fall to four-month low this week amid expectations of higher overseas inflows ahead of the government's stake sale in NTPC Ltd. this month and on view euro could test its 16-month high


Dollar/rupee rebounded in evening trades Monday on demand for dollars from oil importers at lower levels and tracking fall in euro.


Cross-currencies


Euro/dollar snapped four-day gainsMonday on political uncertainty in Spain as Spanish Prime Minister Mariano Rajoy faces corruption allegations and after unemployment in Spain rose


Euro/dollar also fell on comments by German finance minister reminding that euro-zone crisis is far from over which dampened investor sentiments and forced them to book profits after reaching 15-month high.


MCX-SX
ForexHighLowClose% ChgOI
USD Feb53.4800 53.0825 53.4375 0.00 792,515
USD Mar53.7425 53.3525 53.7075 0.00 203,268
EUR Feb72.7225 72.2900 72.4550 (0.58)44,299
EUR Mar72.8500 72.5600 72.7250 (0.56)11,351
JPY Feb58.0125 57.2500 57.6200 (0.80)27,996
JPY Mar57.9375 57.5075 57.8650 (0.81)1,019
GBP Feb84.0925 82.5625 84.0125 (0.57)8,378
GBP Mar84.3900 83.6850 84.3225 (0.54)1,241
NSE FX
ForexHighLowClose% ChgOI
USD Feb53.4800 53.0825 53.4450 0.01 1,702,029
USD Mar53.7500 53.3550 53.7125 0.00 409,114
EUR Feb72.7200 72.2925 72.4550 (0.58)66,789
EUR Mar72.8400 72.5675 72.7275 (0.55)12,886
JPY Feb57.6850 57.2525 57.6100 (0.80)27,874
JPY Mar57.9150 57.5250 57.8575 (0.79)1,767
GBP Feb84.1475 83.3400 84.0200 (0.57)9,888
GBP Mar84.6800 83.6700 84.3450 (0.54)2,524








Spot Rates
ForexHighLowClose% Chg
EUR-USD1.3660 1.3505 1.3514 (0.92)
GBP-USD1.5772 1.5682 1.5760 0.43
USD-JPY93.1800 92.2100 92.3800 (0.42)
DOLLAR INDEX79.6120 79.1620 79.5540 0.54

RBI Reference rates
ForexRate(INR)Pr Close% Chg
USD-INR53.0 53.3 (0.7)
EUR-INR72.2 72.6 (0.6)
GBP-INR83.2 84.6 (1.7)
JPY-INR57.2 57.9 (1.2)

Equity Indices
ClosePr Close% Chg
Nifty6,025.2 5,987.3 (0.2)
Sensex19,861.0 19,751.2 (0.2)
Dow Jones14,009.8 13,880.1 (0.9)
FTSE6,347.2 6,246.8 (1.6)

Benchmark Rates
Close

MIBOR (%)7.85

LIBOR (%)0.30

Call rates (%)7.75

Forex reserves (US$bn)295.75


Technical View


USD-INR SPOT RATE

Prices have support at 52.85 and resistance at 53.50


NSE USD-INR FUTURE

Prices have support at 53 and resistance at 53.70


EUR-USD (1.3492): Prices have support at 1.3430 and resistance at 1.3530.


US Dollar Index (79.64): Prices have support at 79 and resistance level at 80.20.


INR Currency Future view


EUR-INR (Close: 71.89): Prices have support at 71.60 and resistance at 72.30.


GBP-INR (Close: 83.87): Prices have support at 83 and resistance at 84.20.


JPY-INR (Close: 57.64): Prices have support at 57 and resistance at 58.


Pivot table
NSE Levels
ForexR3R2R1PivotS1S2S3
USD-INR54.2050 53.8425 53.8075 53.4450 53.4100 53.0475 53.0125
EUR-INR73.0450 72.8825 72.6175 72.4550 72.1900 72.0275 71.7625
JPY-INR58.4000 58.0425 57.9675 57.6100 57.5350 57.1775 57.1025
GBP-INR85.5075 84.8275 84.7000 84.0200 83.8925 83.2125 83.0850
EUR-USD1.3678 1.3669 1.3523 1.3514 1.3368 1.3359 1.3213
GBP-USD1.5928 1.5850 1.5838 1.5760 1.5748 1.5670 1.5658
USD-JPY93.5200 93.3500 92.5500 92.3800 91.5800 91.4100 90.6100

Important data to watch
DateCountry / CurrencyEventISTActualCons.Previous
4-FebEURSpanish Unemployment Change1:30pm132.1K150.0K-59.1K
EURSentix Investor Confidence3:00pm-3.9-2.2-7.0
USDFactory Orders m/m8:30pm1.8%2.3%0.0%
5-FebEURRetail Sales m/m3:30pm
-0.5%0.1%

















 

 
 
 
Recent Reports
News