Currency Daily Report, February 28

7/29/2019 Currency Daily Report, February 28

http://slidepdf.com/reader/full/currency-daily-report-february-28 1/4

Currencies Daily RepoThursday| February 28, 201

www.angelbroking.com

Content

Overview

US Dollar

Euro

GBP

JPY

Economic Indicators

Angel Broking Ltd.

Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.

Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000

Currency: INE231279838 / MCX Currency Sebi Regn No: INE261279838 / Member ID: 10500

Disclaimer: The information and opinions contained in the document have been compiled from sources believed to be reliable. The company does not warrant its accuracy, completene

correctness. The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. This document may not be reproduced, distributed or published, in who

part, by any recipient hereof for any purpose without prior permission from “Angel Broking Ltd”. Your feedback is appreciated on [email protected]

Research Team

Vedika Narvekar - Sr. Research Analyst

[email protected]

(022) 3935 8130

Anish Vyas - Research Analyst

[email protected]

(022) 2921 2000 Extn. 6104

Overview:

mailto:[email protected]







Highlights

US Core Durable Goods Orders increased by 1.9 percent in January.

German Consumer Climate rose by 0.1 point to 5.9-mark in February.

US Pending Home Sales rose by 4.5 percent in the last month.

Japan’s Prelim Industrial Production rose by 1 percent in January.

Asian markets are trading higher today on the back of more than

xpected rise in the US economic data which shows signs of the globalconomic growth.

US Core Durable Goods Orders increased by 1.9 percent in January as

gainst a rise of 1 percent a month ago. Durable Goods Orders

eclined by 5.2 percent in January from earlier rise of 4.3 percent in

December. Pending Home Sales rose by 4.5 percent in last month as

ompared to decline of 1.9 percent in prior month.

US Dollar Index

US Dollar Index (DX) depreciated by 0.3 percent in yesterday’s trading

ession on the back of rise in risk appetite in the global market

entiments which led to decline in demand for the low yielding

urrency.

n addition, favorable economic data from the US coupled with Fed

hairman Ben Bernanke supporting the US Federal Reserve bond

uying program also exerted downside pressure on the DX. The

urrency touched an intra-day low of 81.56 and closed at 81.67 on

Wednesday.

Dollar/INR

ndian Rupee appreciated by 0.4 percent in yesterday’s trading session.

he currency appreciated as a result of expectations that government

will deliver a proper allocated budget for 2013-14 which will attract

oreign fund flows. Additionally, expectations that Finance Minister will

eveal measures to boost the investments, upbeat global market

entiments along with weakness in the DX also supported an upside in

he currency.

However, sharp upside in the currency was capped as a result of dollar

emand from oil and defence companies. The Indian Rupee touched

n intra-day high of 53.615 and closed at 53.86 against dollar on

Wednesday.

or the month of February 2013, FII inflows totaled at Rs.23,513.60

rores ($4,403.38 million) as on 26th February 2013. Year to date basis,

et capital inflows stood at Rs.45,572.60 crores ($8,462.70 million) till

6th

February 2013.

Outlook

rom the intra-day perspective, we expect Indian Rupee to appreciate

n the back of upbeat global market sentiments coupled with

weakness in the DX. However, sharp upside will be capped on account

f month end dollar demand from oil, defense companies and

mporters. Further, country’s GDP is expected to decline along with any

egative statement in the Federal Budget which will be announced by

inance Minister in today’s trading session.

Market Highlights (% change) as on February 27, 2

LastPrev.

dayWoW MoM

NIFTY 5796.9 0.6 -2.5 -4.3

SENSEX 19152.4 0.7 -2.5 -4.3

DJIA 14075.37 1.3 1.1 1.2

S&P 1516.0 1.3 0.3 0.9

FTSE 15827.0 1.8 -4.2 -8.6

KOSPI 2004.0 0.2 -1.0 2.0

BOVESPA 58497.8 0.2 4.1 -1.4

NIKKEI 11254.0 -1.3 -0.1 -0.1

Nymex Crude

(Apr13) - $/bbl

92.76 0.1 -1.8 -5.3

Comex Gold (Apr’13)

- $/oz

1595.20 -1.2 1.1 -3.9

Comex

Silver(Mar’13) $/oz

2894.30 0.0 0.9 -7.6

LME Copper (3

month) -$/tonne

7863.75 -0.4 -1.3 0.2

CRB Index

(Industrial)

- - - -

G-Sec -10 yr @7.8% -

Yield

102.09 0.0 -0.1 0.4

Source:

US Dollar (% change) as on February 27, 2

LastPrev.

dayWoW MoM

Dollar Index 81.67 -0.3 0.6 3.0 US $ / INR (Spot) 53.86 0.4 0.4 -1.2

US $ / INR Mar’13

Futures (NSE)

54.18 0.19 -0.01 0.89

US $ / INR Mar’13

Futures (MCX-SX)

54.17 0.19 -0.02 0.88

Source:

Technical Chart – USD/INR

Source: T

Technical Outlook valid for February 28, 20

Trend Support Resis

US Dollar/INR Mar’13

(NSE/MCX-SX)

Sideways 53.90/53.70 54.40/





Euro (% change) as on February 27, 2013

Last Prev. day WoW MoM

Euro /$ (Spot) 1.3138 0.6 -1.1 -3.2

Euro / INR (Spot) 70.40 0.4 2.7 2.4

Euro / INR Mar ’13

Futures (NSE)

70.95 0.46 -2.21 -0.87

Euro / INR Mar’13

Futures (MCX-SX)

70.9 0.46 -2.20 -0.89

Source: Re

Technical Chart – Euro

Source: Tele

GBP (% change) as on February 27, 201

Last Prev. day WoW MoM

$ / GBP (Spot) 1.5157 0.22 -0.5 -4.1

GBP / INR (Spot) 81.699 -0.17 -0.78 -3.57

GBP / INR

Mar’13 Futures

(NSE)

82.05 -0.10 -1.03 -3.46

GBP / INR Mar

’13 Futures

(MCX-SX)

82.06 -0.09 -1.03 -3.46

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

mooth auction of Italian 10 year government bonds around $5 billion.

urther, comments from European Central Bank (ECB) President Mario

raghi that central banks has no intentions of tightening monetary

olicy coupled with positive economic data also acted as a positive

ctor for the currency. Additionally, weakness in the DX also supported

uro to gain strength. But the sharp appreciation in the Euro was capped

s the uncertainty in the Italy persists.

fK German Consumer Climate rose by 0.1 point to 5.9-mark in February

s against a rise of 5.8-level in January. German Import Prices increased

y 0.1 percent in January from earlier decline of 0.5 percent in

ecember. M3 Money Supply rose by 3.5 percent in January as

ompared to rise of 3.4 percent a month ago. Private Loans declined by

9 percent in last month with respect to fall of 0.7 percent in

ecember. European Raw Materials Price Index (RMPI) declined by 1.4

oints to 44.5-level in February when compared to rise of 45.-mark a

onth ago. The Euro touched an intra-day high of 1.3147 and closed at3138 against dollar on Wednesday.

utlook

today’s session, we expect Euro to appreciate on optimistic global

arket sentiments coupled with weakness in the DX. Further,

xpectations of positive German and European Consumer Price Index

CPI) data will also support an upside in the currency.

echnical Outlook valid for February 28, 2013

Trend Support Resistance

ro/INR Mar’13

SE/MCX-SX)

Up 70.60/70.25 71.10/71.40

BP/INR

he Sterling Pound appreciated by 0.2 percent yesterday taking cues

om Second Estimate Gross Domestic Product (GDP) remained

nchanged at -0.3 percent in the fourth quarter of 2012. Additionally,

pbeat global market sentiments coupled with weakness in the DX also

upported an upside in the currency.

owever, sharp upside in the currency was capped as a result of Prelim

usiness Investment declined by 1.2 percent in Q4 of 2012 as against a

se of 0.5 percent in Q3 of 2012. Index of Services fell by 0.1 percent in

st quarter of 2012 as compared to increase of 0.6 percent in Q3 of

012. The Sterling Pound touched an intra-day high of 1.5187 and closed

1.5157 against dollar on Wednesday.

utlook

We expect the Sterling Pound to trade on a positive note in today’s

ade on the back of upbeat global market sentiments. Weakness in the

X will also support upside in the currency.

echnical Outlook valid for February 28, 2013


BP/INR Mar ’13

SE/MCX-SX) Up 81.55/81.10 82.33/82.65




www angelbroking com

JPY (% change) as on February 27, 201

Last Prev day WoW MoM

JPY / $ (Spot) 92.23 0.3 -1.4 1.3

JPY / INR (Spot) 0.5835 -0.61 1.06 -1.57 -4

JPY 100 / INR Mar’13

Futures (NSE)

59.11 0.52 2.03 -1.41 -3

JPY 100 / INR Mar’13

Futures (MCX-SX)

59.12 0.54 2.02 -1.38 -3

Source:

Technical Chart – JPY

Source: Te

Y/INR

e Japanese Yen depreciated by 0.3 percent yesterday on the back of

e in risk appetite in the global market sentiments which will lead to

cline in demand for the low yielding currency. Additionally, unfavorable

ail sales data also added downside pressure on the currency.

pan’s Manufacturing Purchasing Managers' Index (PMI) increased by 0.8

nts to 48.5-mark in February as against a rise of 47.7-level in January.

elim Industrial Production rose by 1 percent in January from earlier rise

2.5 percent a month ago. The Yen touched an intra-day low of 92.43

d closed at 92.23 against dollar on Wednesday.

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 fall in demand

the low yielding currency. Further, country’s industrial production

ta also came on a negative note which will also exert downside

essure on the currency.

chnical Outlook valid for February 28, 2013


/INR Mar ’13

E/MCX-SX)Up 58.80/58.50 59.30/59.60

Economic Indicators to be released on February 28, 2013

Indicator Country Time (IST) Actual Forecast Previous Impact

Prelim Industrial Production m/m Japan 5:20am 1.0% 1.6% 2.5% Medium

German Prelim CPI m/m Euro All Day - 0.7% -0.5% Medium

French Consumer Spending m/m Euro 1:15pm - -0.1% 0.0% Medium

German Unemployment Change Euro 2:25pm - -5K -16K Medium

CPI y/y Euro 3:30pm - 2.0% 2.0% Medium

Core CPI y/y Euro 3:30pm - 1.5% 1.5% Medium

Prelim GDP q/q US 7:00pm - 0.5% -0.1% High

Unemployment Claims US 7:00pm - 363K 362K High

Chicago PMI US 8:15pm - 54.6 55.6 Medium

FOMC Member Raskin Speaks US 11:00pm - - - Medium

Currency Daily Report, February 28

Documents

Transcript of Currency Daily Report, February 28