CURRENCY RESEARCH REPORT
15th October, 2010
Morning Forex Overview
Market Watch Indices
INR: The Indian rupee rose to a fresh 25-month high today, buoyed by heavy Change -0.92% -0.91% -0.01% 0.08% 0.18% -0.13% foreign inflows related to upcoming share sales. Since Jan 2010, rupee has strengthened by 5.6% against the greenback owing
Close 20,497.64 6177.35
to overseas inflows. All Asian currencies, are appreciating vis-à-vis the dollar due to large inflows from foreign institutional investors (FIIs) and India is no exception.
DOWJONES 11,094.57 Crude Oil ($ / B)
Dollar/rupee is expected to weaken further in the next few months on higher foreign fund inflows DOLLAR: A trend of dollar weakness ...view middle of the document...
5000 62.4025 70.9000 54.5125
High 44.5000 62.5400 71.1450 54.9475
Low 44.2025 62.1750 70.6700 54.4775
Close 44.2475 62.2050 70.8625 54.5200
Today Slightly Bearish Slightly Bullish Slightly Bullish Strongly Bearish
0.01% -0.12% -0.31%
Currency Pairs USD - INR EUR - INR GBP - INR JPY - INR S1 44.1300 62.0700 70.6400 54.3500
Daily Resistance and Support Levels
MCX- SX S2 44.0200 61.9400 70.4200 54.1800 S3 43.7200 61.5800 69.9400 53.7100 PIVOT 44.3200 62.3100 70.8900 54.6500 R1 44.4300 62.4400 71.1200 54.8200 R2 44.6100 62.6700 71.3700 55.1200 R3 44.9100 63.0400 71.8400 55.5900
IST 6.00 P.M 7.25 P.M CURRENCY USD USD DETAILS Core CPI m/m and Retail Sales m/m Prelim UoM Consumer Sentiment Effect Actual > Forecast = Good for currency Actual > Forecast = Good for currency
WEEKLY OUTLOOK: For the coming week, we can expect rupee to be traded in the range 44.5045.10 levels. We can expect the bounce back at the level of 44.10.
WEEKLY OUTLOOK: For the coming week, we can expect EUR-INR to trade in the range of 62.56-61.8500 levels.
WEEKLY OUTLOOK: For the coming week we can expect GBP-INR to be traded in the 71.2570.4600 levels.
WEEKLY OUTLOOK: For the coming week, we can expect to trade in the range bound between 54.25 -53.8000 range bound.
Disclaimer: This information Contained in this report has been obtained from sources believed to be reliable. While utmost care has been taken to create this report, the author or the organisation does not take any responsibility for the consequences of this report. Investor who invest on the basis of recommodation mentioned in this report do so at their own risk.