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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 low Monday on higher risk appetite after robust economic data from US as jobs scenario improved and manufacturing rose to 9-month high and 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 gains Monday 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
Forex High Low Close % Chg OI
USD Feb 53.4800 53.0825 53.4375 0.00 792,515
USD Mar 53.7425 53.3525 53.7075 0.00 203,268
EUR Feb 72.7225 72.2900 72.4550 (0.58) 44,299
EUR Mar 72.8500 72.5600 72.7250 (0.56) 11,351
JPY Feb 58.0125 57.2500 57.6200 (0.80) 27,996
JPY Mar 57.9375 57.5075 57.8650 (0.81) 1,019
GBP Feb 84.0925 82.5625 84.0125 (0.57) 8,378
GBP Mar 84.3900 83.6850 84.3225 (0.54) 1,241
NSE FX
Forex High Low Close % Chg OI
USD Feb 53.4800 53.0825 53.4450 0.01 1,702,029
USD Mar 53.7500 53.3550 53.7125 0.00 409,114
EUR Feb 72.7200 72.2925 72.4550 (0.58) 66,789
EUR Mar 72.8400 72.5675 72.7275 (0.55) 12,886
JPY Feb 57.6850 57.2525 57.6100 (0.80) 27,874
JPY Mar 57.9150 57.5250 57.8575 (0.79) 1,767
GBP Feb 84.1475 83.3400 84.0200 (0.57) 9,888
GBP Mar 84.6800 83.6700 84.3450 (0.54) 2,524








Spot Rates
Forex High Low Close % Chg
EUR-USD 1.3660 1.3505 1.3514 (0.92)
GBP-USD 1.5772 1.5682 1.5760 0.43
USD-JPY 93.1800 92.2100 92.3800 (0.42)
DOLLAR INDEX 79.6120 79.1620 79.5540 0.54

RBI Reference rates
Forex Rate(INR) Pr Close  % Chg
USD-INR 53.0 53.3 (0.7)
EUR-INR 72.2 72.6 (0.6)
GBP-INR 83.2 84.6 (1.7)
JPY-INR 57.2 57.9 (1.2)

Equity Indices
  Close Pr Close  % Chg
Nifty 6,025.2 5,987.3 (0.2)
Sensex 19,861.0 19,751.2 (0.2)
Dow Jones 14,009.8 13,880.1 (0.9)
FTSE 6,347.2 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
Forex R3 R2 R1 Pivot S1 S2 S3
USD-INR 54.2050 53.8425 53.8075 53.4450 53.4100 53.0475 53.0125
EUR-INR 73.0450 72.8825 72.6175 72.4550 72.1900 72.0275 71.7625
JPY-INR 58.4000 58.0425 57.9675 57.6100 57.5350 57.1775 57.1025
GBP-INR 85.5075 84.8275 84.7000 84.0200 83.8925 83.2125 83.0850
EUR-USD 1.3678 1.3669 1.3523 1.3514 1.3368 1.3359 1.3213
GBP-USD 1.5928 1.5850 1.5838 1.5760 1.5748 1.5670 1.5658
USD-JPY 93.5200 93.3500 92.5500 92.3800 91.5800 91.4100 90.6100

Important data to watch
Date Country / Currency Event IST Actual Cons. Previous
4-Feb EUR Spanish Unemployment Change 1:30pm 132.1K 150.0K -59.1K
EUR Sentix Investor Confidence 3:00pm -3.9 -2.2 -7.0
USD Factory Orders m/m 8:30pm 1.8% 2.3% 0.0%
5-Feb EUR Retail Sales m/m 3:30pm
-0.5% 0.1%

















article
113110712998
Fundamental and Technical View on currencies on February 05, 2013
Fundamental and Technical View on currencies on February 05, 2013
Dollar/rupee rebounded in evening trades Monday on demand for dollars from oil importers at lower levels and tracking fall in euro.
http://www.indiainfoline.com/article/news-top-story/fundamental-and-technical-view-on-currencies-on-february-05-2013-113110712998_1.html
February 05, 2013 09:39 IST
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Fundamental View, Dollar, rupee, NTPC Ltd.
Currency
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