Currency Daily Report, April 10
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Transcript of Currency Daily Report, April 10
7/28/2019 Currency Daily Report, April 10
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Currencies Daily RepoWednesday| April 10, 201
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Content
Overview
US Dollar
Euro
GBP
JPY
Economic Indicators
Angel Broking Ltd.
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Research Team
Vedika Narvekar - Sr. Research Analyst
(022) 2921 2000 Extn :6130
Saif Mukadam – Research Analyst
(022) 2921 2000 Extn :6136
Anish Vyas - Research Analyst
(022) 2921 2000 Extn :6104
Overview:
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ghlights
German Trade Balance was at a surplus of 17.1 bn Euros in February.
Japan’s Prelim Machine Tool Orders fell by 21.6 percent in March.
UK’s Manufacturing Production increased by 0.8 percent in February.
China’s trade balance was at deficit of $0.9 billion in March .
ian Markets are trading higher on the back of positive US stocksupled with rise in China’s import data.
ina’s trade balance was at deficit of $0.9 billion in March as compared
the surplus of $15.2 billion in February.
National Federation of Independent Business (NFIB) Small Business
dex declined by 1.3 points to 89.5-mark in March as against a rise of
.8-level in February. Wholesale Inventories declined by 0.3 percent in
bruary from rise of 0.8 percent in prior month.
S Dollar Index
e US Dollar Index (DX) declined by 0.5 percent in the yesterday’s
ading session on the back of rise in risk appetite in the global market
ntiments which led to fall in demand for the low yielding currency.
rther, US equities traded on a positive note which also exerted
wnside pressure in the DX.
owever, sharp downside in the currency was capped on account of
favorable economic data from Euro Zone. The currency touched an
ra-day low of 82.375 and closed at 82.41 on Tuesday.
ollar/INR
e Indian Rupee depreciated by 0.2 percent in yesterday’s trading
ssion. The currency depreciated on account of dollar demand from
porters coupled with foreign outflows. Additionally, weak domestic
arket sentiments also exerted downside pressure on the currency.
owever, sharp downside in the currency was cushioned as a result of
eakness in the DX. The currency touched an intra-day low of 54.655
d closed at 54.47 against dollar on Tuesday.
r the month of April 2013, FII inflows totaled at Rs.412.40 crores
76.35 million) as on 9th
April 2013. Year to date basis, net capital
lows stood at Rs.56,034.80 crores ($10,386.40 million) till 9th
April
13.
utlook
om the intra-day perspective, we expect Indian Rupee to appreciate
the back of upbeat global market sentiments coupled with weakness
the DX. However, sharp upside in the currency will be capped on
count of dollar demand from importers along with outflow of foreign
nds from the financial institutions.
Market Highlights (% change) as on April 9, 2013
LastPrev.
dayWoW MoM
NIFTY 5495.1 -0.9 -4.4 -7.1
SENSEX 18226.5 -1.1 -4.3 -6.8
DJIA 14673.46 0.4 0.1 1.5
S&P 1568.6 0.4 -0.1 1.1
FTSE 15436.1 1.3 -0.8 -3.7
KOSPI 1920.7 0.1 -3.3 -4.0
BOVESPA 58497.8 0.2 6.6 1.9
NIKKEI 13192.4 0.0 -0.1 5.0
Nymex Crude
(Apr13) - $/bbl
94.20 0.9 -3.1 1.8
Comex Gold (Apr’13)
- $/oz
1586.20 0.9 2.2 -0.1
Comex
Silver(Mar’13) $/oz
2786.60 2.8 2.4 -4.3
LME Copper (3
month) -$/tonne
7630.00 2.1 2.0 -2.8
CRB Index
(Industrial)
- - - -
G-Sec -10 yr @7.8% -
Yield
102.09 0.0 1.1 0.4
Source:
US Dollar (% change) as on April 9,
LastPrev.
dayWoW MoM
Dollar Index 82.41 -0.5 -0.8 -0.2
US $ / INR (Spot) 54.47 0.2 -0.1 -0.6
US $ / INR April’13
Futures (NSE)
54.76 -0.01 0.28 0.40
US $ / INR April’13
Futures (MCX-SX)
54.76 -0.01 0.27 0.39
Technical Chart – USD/INR
Source: T
Technical Outlook valid for April 10, 2013
Trend Support Resi
US Dollar/INR April’13
(NSE/MCX-SX)Down 54.60/54.45 54.90
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Euro (% change) as on April 9, 2013
Last Prev. day WoW MoM
Euro /$ (Spot) 1.3081 0.6 2.1 0.4
Euro / INR (Spot) 71.10 -0.2 -1.8 -0.9
Euro / INR April ’13
Futures (NSE)
71.4 0.13 1.85 -0.20
Euro / INR April’13
Futures (MCX-SX)
71.4 0.11 1.87 -0.19
Source: Re
Technical Chart – Euro
Source: Tele
GBP (% change) as on April 9, 2013
Last Prev. day WoW MoM
$ / GBP (Spot) 1.5321 0.45 1.5 2.8
GBP / INR (Spot) 83.623 0.424 1.70 3.11
GBP / INR
April’13 Futures
(NSE)
83.73 -0.05 1.02 2.07
GBP / INR April
’13 Futures
(MCX-SX)
83.74 -0.05 1.03 2.08
Source: Re
Technical Chart – Sterling Pound
Source: Tele
uro/INR
he Euro appreciated by 0.6 percent in yesterday’s trade on the back of
ptimistic global market sentiments coupled with weakness in DX.
owever, sharp gains in the euro were capped due to unfavorable
conomic data from Europe.
erman Trade Balance was at a surplus of 17.1 billion Euros in Februarys against earlier surplus of 15.6 billion Euros a month ago. French Gov
udget Balance was at deficit of 27.1 billion Euros in February from
revious deficit of 12.8 billion Euros a month earlier. French Trade
alance was at a deficit of 6 billion in February as compared to deficit of
7 billion in prior month. The Euro touched an intra-day high of 1.3103
nd closed at 1.3081 against dollar on Tuesday.
utlook
today’s session, we expect Euro to appreciate on the back of
ptimistic global market sentiments coupled with weakness in DX.
urther, expectation of positive French Industrial production data may
upport euro to trade in green.
echnical Outlook valid for April 10, 2013
Trend Support Resistance
ro/INR April’13
SE/MCX-SX)Sideways 71.20/70.95 71.60/71.80
BP/INR
he Sterling Pound appreciated by 0.45 percent in yesterday’s trade on he back of favorable economic data from UK coupled with optimistic
obal market sentiments. Further, weakness in DX supported currency
o gain strength.
K’s Manufacturing Production increased by 0.8 percent in February as
gainst a decline of 1.9 percent a month ago. Trade Balance was at a
eficit of 9.4 billion Pounds in February from earlier deficit of 8.2 billion
ounds a month earlier. Industrial Production rose by 1 percent in
ebruary from decline of 1.3 percent in previous month. The Sterling
ound touched an intra-day high of 1.5341 and closed at 1.5321 against
ollar on Tuesday.
utlook
We expect Sterling Pound to trade on a positive note on the back of
ptimistic global market sentiments coupled with weakness in DX.
urther, positive economic data in yesterday’s trading session will
upport the currency to gain strength.
echnical Outlook valid for April 10, 2013
Trend Support Resistance
BP/INR April ’13
SE/MCX-SX)Sideways 83.40/83.05 84.0/84.30
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JPY (% change) as on April 9, 2013
Last Prev day WoW MoM
JPY / $ (Spot) 99.02 -0.3 6.0 3.1
JPY / INR (Spot) 0.5514 0.38 -5.42 -2.56 -1
JPY 100 / INR April’13
Futures (NSE)
55.42 -0.27 -5.27 -2.87 -1
JPY 100 / INR April’13
Futures (MCX-SX)
55.42 -0.28 -5.29 -2.90 -1
Source:
Technical Chart – JPY
Source: Te
Y/INR
e Japanese Yen appreciated by 0.3 percent in the yesterday’s trading
sion on the back of favorable economic data from the country.
wever, sharp upside in the currency was capped as a result of rise in
k appetite in the global market sentiments which led to decline in
mand for the low yielding currency.
pan’s Prelim Machine Tool Orders declined by 21.6 percent in March
m previous fall of 21.5 percent in February. Bank Lending increased by
6 percent in last month as against a rise of 1.5 percent in February. The
n touched an intra-day high of 98.58 and closed at 99.02 against dollar
Tuesday.
tlook
r the intra-day, we expect yen to depreciate taking cues from rise in risk
petite in the global market sentiments which will lead to decline in
mand for the low yielding currency.
chnical Outlook valid for April 10, 2013
Trend Support Resistance
/INR April ’13
E/MCX-SX)Down 55.10/54.80 55.60/55.90
Economic Indicators to be released on April 10, 2013
ndicator Country Time (IST) Actual Forecast Previous Impact
rade Balance China 7:30am -0.9B 15.2B 15.3B High
ew Loans China 10th
-13th
- 890B 620B Medium
rench Industrial Production m/m Europe 12:15pm - 0.6% -1.2% Medium
rude Oil Inventories US 8:00pm - 1.6M 2.7M Medium
0-y Bond Auction US 10:30pm - - 2.03/3.2 Medium
OMC Meeting Minutes US 11:30pm - - - High
ederal Budget Balance US 11:30pm - -110.3B -203.5B Medium