Currency Daily Report, July 11 2013

7/28/2019 Currency Daily Report, July 11 2013

http://slidepdf.com/reader/full/currency-daily-report-july-11-2013 1/4

Content

Overview

US Dollar

Euro

GBP

JPY

Economic Indicators

Angel Broking Ltd.

Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, A

Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mu

Currency: INE231279838 / MCX Currency Sebi Regn No: INE261

Disclaimer: The information and opinions contained in the document

correctness. The document is not, and should not be construed as an off

part, by any recipient hereof for any purpose without prior permission fr

Research Team

Reena Rohit

Chief Manager

Non-Agri Commodities and [email protected]

(022) 2921 2000 Extn :6134

Anish Vyas

Research Analyst

[email protected]

(022) 2921 2000 Extn :6104

Overview:

Curre

ndheri (E), Mumbai - 400 093.

mbai - 400 093. Tel: (022) 2921 2000

79838 / Member ID: 10500

have been compiled from sources believed to be reliable. The company doe

er to sell or solicitation to buy any commodities. This document may not be repr

m “Angel Broking Ltd”. Your feedback is appreciated on currencies@angelbroki

cies Daily ReporThursday| July 11, 201

www.angelbroking.com

s not warrant its accuracy, completen

oduced, distributed or published, in who

ng.com



ghlights

US Fed Chairman Ben Bernanke hints it will continu

French Industrial Production declined around 0.4 p

apan’s Core Machinery Orders rose sharply by 10.5

an markets are trading higher today on the back

Federal Reserve Chairman Ben Bernanke that hig

licy is required for better future of world’s lar

rther, favorable machinery orders data from Japan

side in market sentiments.

S Dollar Index

e US Dollar Index (DX) declined around 0.6 percen

de on the back of statement from Federal Rese

rnanke that central banks needs to wait and watch

bor markets before tapering its asset purchases pro

rther, mixed reaction in the Federal Reserve minu

sterday saw that many members were in favor

nd buying program and want further fall in jobs

ted for reduction in stimulus package exerted do

e currency. The DX touched an intra-day low of 8

.23 on Wednesday.

ollar/INR

e Indian Rupee appreciated around 0.4 percent in

ssion. The currency appreciated on the back of serve Bank of India (RBI) to buy dollars for state o

ly from SBI. Further, weakness in the DX in the ear

pported an upside in currency.

ditionally, expectations of more measures fro

obability of jewelers banning sale of gold coins and

hich will provide relief to Current Account Deficit (

ted as a positive factor for the Rupee. The currenc

y high of 59.635 and closed at 59.88 on Wednesday

r the month of July 2013, FII inflows totaled a161.88 million) as on 10

thJuly 2013. Year to dat

lows stood at Rs.73,127.80 crores ($13,662.70 m

13.

tlook

om the intra-day perspective, we expect the

preciate on account of upbeat global and domesti

th weakness in the DX. Further, expectations of m

ken by RBI along with ease in the Fed’s redu

easures will support an upside in the currency.

Curre

e with stimulus.

rcent in May.

percent in May.

of statement from

ly accommodative

gest economy US.

also supported an

in the yesterday’s

rve Chairman Ben

for more favorable

ram.

es which was held

of continuation of

data, while others

nside pressure on

3.64 and closed at

yesterday’s trading

easures taken byned oil companies

ly part of the trade

RBI along with

bars for six months

AD) of the country

touched an intra-

.

Rs.949.60 croresbasis, net capital

illion) till 10th

July

Rupee to sharply

ic markets coupled

re measures to be

ction for stimulus

Market Highlights (% change)

Last

NIFTY 5816.7

SENSEX 19294.1

DJIA 15291.66

S&P 1652.6

FTSE 15677.3

KOSPI 1959.2

BOVESPA 58497.8

NIKKEI 14416.6

Nymex Crude

(Aug’13) - $/bbl

106.52

Comex Gold

(Aug’13) - $/oz

1247.40

Comex

Silver(Sept’13)

$/oz

19.15

LME Copper (3

month) -$/tonne

6797.50

CRB Index

(Industrial)

-

G-Sec -10 yr

@7.8% - Yield

102.09

US Dollar (% change)

Last

Dollar Index 84.23 -

US $ / INR (Spot) 59.88

US $ / INR July’13

Futures (NSE)

59.93 -

US $ / INR July’13

Futures (MCX-SX)

59.96 -

Technical Chart – USD/INR

Technical Outlook

US Dollar/INR July’13(NSE/MCX-SX)



as on July 10, 2013

Prev.

dayWoW MoM

-0.7 0.8 -1.0

-0.7 0.6 -0.8

-0.1 2.4 2.0

0.0 2.3 0.6

-0.7 2.6 -2.9

-1.5 7.4 4.1

0.2 29.9 18.6

-0.4 -0.1 10.8

2.9 6.9 11.1

0.1 -0.4 -9.5

0.1 -2.7 -11.3

0.6 -2.8 -13.4

- - -

0.0 4.6 2.9

Source:

as on July 10,

rev.

day WoW MoM

0.6 0.9 4.1

0.4 0.5 -3.0

0.88 -0.95 2.65

0.86 -0.89 2.78

Source: T

valid for July 11, 2013

Trend Support Res

Down 59.60/59.40 60.10



uro/INR

he Euro appreciated around 1.5 percent in the yest

ack of weakness in the DX. Further, upbeat

upported an upside in the currency.

dditionally, economic data from the regionrecasted also acted as a positive factor. The Euro t

gh of 1.2983 and closed at 1.2974 against the dolla

erman Final Consumer Price Index (CPI) remaine

ercent in the month of June. French Industrial

round 0.4 percent in May from rise of 2.2 percent

dustrial Production grew at slow pace of 0.1 p

espect to decline of 0.3 percent in earlier month.

utlook

today’s session, we expect the Euro to trade hi

pbeat global markets. Further, weakness in the DX

pside in the currency.

echnical Outlook valid

Trend Sup

ro/INR July’13

SE/MCX-SX)Down 76.70/76

BP/INR

he Sterling Pound appreciated around 1 percent in

ession taking cues from weakness in the DX. F

ppetite in the global markets in the later part of the

pside in the currency. The Sterling Pound touched

5012 and closed at 1.501 against dollar on Wednes

utlook

We expect the Sterling Pound to trade on a positive

pbeat global markets. Further, weakness in the DX

ctor for the Pound.

echnical Outlook valid fo

Trend Suppo

BP/INR July ’13

SE/MCX-SX)Down 89.20/89.

Curre

Euro (% change)

Last Prev

Euro /$ (Spot) 1.2974

Euro / INR (Spot) 77.70

Euro / INR July

’13 Futures (NSE)

76.9 -

Euro / INR

July’13 Futures

(MCX-SX)

76.9 -

Technical Chart – Euro

GBP (% change)

Last Prev.

$ / GBP (Spot) 1.501 0

GBP / INR

(Spot)

90.604 1

GBP / INR

July’13 Futures

(NSE)

89.39 -0

GBP / INR July

’13 Futures

(MCX-SX)

89.43 -0

Technical Chart – Sterling Pound

erday’s trade on the

lobal markets also

came better thanouched an intra-day

r on Wednesday.

unchanged at 0.1

roduction declined

a month ago. Italian

rcent in May with

her on the back of

will also support an

or July 11, 2013

ort Resistance

.50 77.10/77.30

yesterday’s trading

urther, rise in risk

trade supported an

an intra-day high of

day.

note on the back of

will act as a positive

r July 11, 2013

rt Resistance

.0 89.60/89.80



as on July 10, 2013

. day WoW MoM

1.5 -0.2 -2.1

-1.2 0.8 -0.8

1.13 -1.93 -0.29

1.17 -1.91 -0.30

Source: Re

Source: Tele

as on July 10, 2013

ay WoW MoM

.98 -1.8 -3.6

.50 -1.56 0.10

.50 -3.15 -1.33

.54 -3.13 -1.32

Source: Re

Source: Tele



Y/INR

e Japanese Yen appreciated around 1.5 percen

ding session on account of expectations that Ban

ep its policy unchanged along with rise in risk a

rkets which lead to fall in demand for the currency.

ra-day high of 99.41 and closed at 99.64 against dol

pan’s Core Machinery Orders rose sharply by 10.

ainst a decline of 8.8 percent a month earlier.

tlook

r intra-day trade, we expect the Japanese Yen to ap

m expectation that BOJ will keep its policy steady

view on the economy. However, rise in risk ap

rkets, which could lead to fall in demand for the

arp gains in the Yen.

chnical Outlook valid

Trend Supp

/INR July ’13

E/MCX-SX)Down 59.70/59.

Economic Indicators to be released on

ndicator Country

Fed Chairman Bernanke Speaks US

Core Machinery Orders m/m Japan

Monetary Policy Statement Japan

BOJ Press Conference Japan

ECB Monthly Bulletin Euro

German Buba President Weidmann

Speaks

Euro

MPC Member Miles Speaks UK

Unemployment Claims US

mport Prices m/m US

Federal Budget Balance US

Curre

JPY (% change)

Last P

JPY / $ (Spot) 99.64

JPY / INR (Spot) 0.6048

JPY 100 / INR

July’13 Futures(NSE)

59.94

JPY 100 / INR

July’13 Futures

(MCX-SX)

59.91

Technical Chart – JPY

in the yesterday’s

k of Japan (BOJ) will

petite in the global

. The Yen touched an

lar on Wednesday.

percent in May as

preciate, taking cues

nd likely to upgrade

petite in the global

urrency and capped

or July 11, 2013

ort Resistance

.50 60.15/60.30

uly 11, 2013

Time (IST) Actual Forecast

1:40am - -

5:20am 10.5% 1.9%

Tentative - -

Tentative - -

1:30pm - -

1:30pm - -

2:00pm - -

6:00pm - 342K

6:00pm - 0.1%

11:30pm - 42.1B


www angelbroking com

as on July 10, 2013

rev day WoW MoM

-1.5 -0.3 0.9

1.80 0.22 2.82 -1

0.23 -1.52 1.59 -1

0.09 -1.57 1.59 -1

Source:

Source: Te

Previous Impact

- High

-8.8% Medium

- High

- High

- Medium

- Medium

- Medium

343K High

-0.6% Medium

-138.7B Medium

Currency Daily Report, July 11 2013

Documents

Transcript of Currency Daily Report, July 11 2013