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Daily Forex: Research Via

The rupee fell to near 56 against the dollar due to heavy dollar demand from oil and defense firms and custodian buying by foreign banks hurting the rupee. The yuan ended lower against the dollar after hitting several record highs in May, taking a pause as the central bank set a slightly lower exchange rate. The Swiss franc fell against the euro and dollar as global markets stabilized after recent volatility, reducing demand for safe haven currencies.

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27 views

Daily Forex: Research Via

The rupee fell to near 56 against the dollar due to heavy dollar demand from oil and defense firms and custodian buying by foreign banks hurting the rupee. The yuan ended lower against the dollar after hitting several record highs in May, taking a pause as the central bank set a slightly lower exchange rate. The Swiss franc fell against the euro and dollar as global markets stabilized after recent volatility, reducing demand for safe haven currencies.

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researchvia
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We take content rights seriously. If you suspect this is your content, claim it here.
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DAILY FOREX REPORT

RESEARCH VIA
5/29/2013

www.researchvia.com

9977785000

MARKET HEADLINES

Rupee falls to near 56 against dollar


The rupee was just short of the 56 mark as exporters rushed in to sell, pulling the Indian currency down to 55.88/89 but still well below its close of 55.5675/5775 on Monday. Traders said heavy dollar demand from oil and defence firms and also from some custodian buying by two large foreign banks are hurting the rupee. Exporters, however, are likely to sell the US currency around 56 levels, preventing a very sharp fall in the Indian currency during this session, traders said.

Yuan ends lower, takes break after slew of record highs in May
China's yuan, which has hit record highs against the dollar seven times this month, closed slightly weaker on Tuesday after the central bank set a slightly lower midpoint to signal a pause in the currency's appreciation. Spot yuan closed at 6.1215 against the dollar, down slightly from 6.1211 at the close on Monday when the currency reached an intraday high of 6.1210, its highest since China set up the domestic foreign exchange market in 1994.

Swiss franc falls as risk aversion eases


The Swiss franc fell against the euro and the dollar on Tuesday as global markets stabilised following the recent patch of volatility, prompting less demand for safe-haven currencies. The franc fell 0.6 percent against the dollar to trade at 0.9693 by 0700 GMT compared to the New York close. The franc fell 0.4 percent against the euro to 1.2502. St. Galler Kantonalbank analysts said they expected the franc to trade between 1.24 and 1.26 per euro for the time being.

DAILY MARKET STATISTICS


CURRENCY
EURINR EURINR EURINR GBPINR GBPINR JPYINR JPYINR USDINR USDINR USDINR

EXPIRY
29-May-2013 26-Jun-2013 29-Jul-2013 29-May-2013 26-Jun-2013 29-May-2013 26-Jun-2013 29-May-2013 26-Jun-2013 29-Jul-2013

OPEN
71.8200 72.2025 72.5575 84.0650 84.4000 54.8975 55.2500 55.7450 55.9000 56.2300

HIGH
72.4400 72.7200 72.9975 84.6400 84.9625 54.9100 55.2500 56.0175 56.2600 56.5075

LOW
71.8200 72.1575 72.4975 84.0600 84.3925 54.5725 54.8525 55.6700 55.8000 56.1600

CLOSE
72.3850 72.6525 72.9200 84.5750 84.8775 54.8450 55.1125 55.9475 56.1925 56.4325

RBI REFERENCE RATE (As on 28TH MAY 2013)


UNDERLYING USDINR EURINR GBPINR JPYINR RATE 55.7423 72.0265 84.1709 54.6500

USDINR DAILY ANALYSIS

PIVOT POINTS
S1-55.7392 S2-55.5308 PP-55.8783 R1-56.0867 R2-56.2258

EURINR DAILY ANALYSIS

PIVOT POINTS S1- 71.9908 S2-71.5967 PP-72.2142 R1-72.6083 R2-72.8317

GBPINR DAILY ANALYSIS

PIVOT POINTS

S1-84.2100 S2-83.8450 PP-84.4250 R1-84.7900 R2-85.0050

54.9950

JPYINR DAILY ANALYSIS

PIVOT POINTS

S1- 54.6433 S2- 54.4417 PP-55.7767 R1- 54.9783 R2- 55.1117

DISCLAIMER
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