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7/28/2019 Currency Daily Report, April 12
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Currencies Daily RepoFriday| April 12, 201
www.angelbroking.com
Content
Overview
US Dollar
Euro
GBP
JPY
Economic Indicators
Angel Broking Ltd.
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Research Team
Vedika Narvekar - Sr. Research Analyst
vedika.narvekar@angelbroking.com
(022) 2921 2000 Extn :6130
Saif Mukadam – Research Analyst
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(022) 2921 2000 Extn :6136
Anish Vyas - Research Analyst
anish.vyas@angelbroking.com
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Overview:
7/28/2019 Currency Daily Report, April 12
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Currencies Daily RepoFriday| April 12, 201
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ghlights
US Unemployment Claims declined to 346,000 for the w/e 5th April.
German Final CPI unchanged at 0.5 percent in the month of March.
US Import Prices declined by 0.5 percent in the last month.
French CPI increased by 0.8 percent in a month earlier.
ian Markets are trading on a mixed note on the back of favorable USonomic data in yesterday’s trade but strength in the Japanese Yen
ded downside pressure on the markets.
Unemployment Claims declined by 42,000 to 346,000 for the week
ding 5th
April as against a rise of 388,000 in prior week. Import Prices
clined by 0.5 percent in March from earlier rise of 0.6 percent in
bruary.
S Dollar Index
e US Dollar Index (DX) declined by 0.4 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.
ditionally, favorable US jobless claims data also acted as a negative
ctor for the currency.
rther, US equities traded on a positive note which also exerted
wnside pressure on the DX. The currency touched an intra-day low of
.14 and closed at 82.33 on Thursday.
ollar/INR
e Indian Rupee appreciated by 0.3 percent on Wednesday. Therrency appreciated on account of selling dollars from exporters and
nks. Additionally, upbeat global market sentiments also supported an
side in the currency.
owever, sharp upside in the currency was capped as a result of
ength in the DX coupled with outflow of foreign funds. The currency
uched an intra-day high of 54.39 and closed at 54.41 against dollar on
ednesday.
r the month of April 2013, FII outflows totaled at Rs.206.50 crores
37.29 million) as on 10th
April 2013. Year to date basis, net capital
lows stood at Rs.55,415.90 crores ($10,272.80 million) till 10 th April
13.
utlook
om the intra-day perspective, we expect Indian Rupee to depreciate
the back of mixed global market sentiments coupled with
pectations of decline in country’s industrial production and
anufacturing output data. Further, outflow of foreign funds will also
ert downside pressure on the currency. However, sharp downside in
e currency will be cushioned on account of selling of dollar from
porters and banks along with weakness in the DX.
Market Highlights (% change) as on April 11, 2013
LastPrev.
dayWoW MoM
NIFTY 5594.0 0.6 0.3 -5.3
SENSEX 18542.2 0.7 0.2 -5.3
DJIA 14865.14 0.4 1.8 2.2
S&P 1593.4 0.4 2.1 2.4
FTSE 16020.9 0.6 5.7 -0.7
KOSPI 1949.8 0.7 -0.5 -1.8
BOVESPA 58497.8 0.2 7.0 2.9
NIKKEI 13549.2 2.0 -0.1 8.7
Nymex Crude
(Apr13) - $/bbl
93.51 -1.2 0.3 0.5
Comex Gold (Apr’13)
- $/oz
1564.30 0.4 -0.7 -1.8
Comex
Silver(Mar’13) $/oz
2768.50 0.2 3.5 -3.8
LME Copper (3
month) -$/tonne
7594.25 0.2 1.9 -3.2
CRB Index
(Industrial)
- - - -
G-Sec -10 yr @7.8% -
Yield
102.09 0.0 0.9 0.3
Source:
US Dollar (% change) as on April 11
LastPrev.
dayWoW MoM
Dollar Index 82.33 -0.4 -0.6 -0.7
US $ / INR (Spot) 54.41 0.1 0.2 -0.1
US $ / INR April’13
Futures (NSE)
54.66 -0.19 -0.16 0.22
US $ / INR April’13
Futures (MCX-SX)
54.65 -0.20 -0.18 0.19
Technical Chart – USD/INR
Source: T
Technical Outlook valid for April 12, 2013
Trend Support Resi
US Dollar/INR April’13
(NSE/MCX-SX)Sideways 54.45/54.30 54.75
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Euro (% change) as on April 11, 2013
Last Prev. day WoW MoM
Euro /$ (Spot) 1.3102 0.3 1.3 0.8
Euro / INR (Spot) 71.09 0.0 -1.6 -0.8
Euro / INR April ’13
Futures (NSE)
71.6 0.18 1.94 -0.02
Euro / INR April’13
Futures (MCX-SX)
71.6 0.20 1.96 0.01
Source: Re
Technical Chart – Euro
Source: Tele
GBP (% change) as on April 11, 2013
Last Prev. day WoW MoM
$ / GBP (Spot) 1.5382 0.35 1.0 2.0
GBP / INR (Spot) 83.555 -0.081 1.40 3.03
GBP / INR
April’13 Futures
(NSE)
83.63 -0.12 1.11 1.95
GBP / INR April
’13 Futures
(MCX-SX)
83.66 -0.10 1.14 1.97
Source: Re
Technical Chart – Sterling Pound
Source: Tele
uro/INR
he Euro appreciated by 0.3 percent in yesterday’s trade on the back of
ptimistic global market sentiments coupled with weakness in DX.
urther, decline in borrowing cost for Italy also supported prices.
erman Final Consumer Price Index (CPI) remained unchanged at 0.5ercent in the month of March. French CPI increased by 0.8 percent in
arch from earlier rise of 0.3 percent in February. The Euro touched an
tra-day high of 1.3138 and closed at 1.3102 against dollar on Thursday.
utlook
today’s session, we expect Euro to appreciate on the back of
eakness in DX coupled with expectation of positive economic data
om Europe. However, worries over economic growth as the IMF
orecasted that euro zone’s economy may contract by 0.2 percent in
013 may cap sharp gains in the currency. Investors will keep an eye onCOFIN meeting and Euro group meetings.
echnical Outlook valid for April 12, 2013
Trend Support Resistance
ro/INR April’13
SE/MCX-SX)Sideways 71.35/71.10 71.70/71.90
BP/INR
he Sterling Pound appreciated by 0.35 percent in yesterday’s trade on
he back of optimistic global market sentiments. Further weakness in the
X also supported an upside in the currency.
he Sterling Pound touched an intra-day high of 1.5411 and closed at
5382 against dollar on Thursday.
utlook
We expect Sterling Pound to trade on a positive note on the back of
eakness in DX coupled with mixed global market sentiments.
echnical Outlook valid for April 12, 2013
Trend Support Resistance
BP/INR April ’13
SE/MCX-SX)Sideways 83.50/83.30 83.90/84.20
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JPY (% change) as on April 11, 2013
Last Prev day WoW MoM
JPY / $ (Spot) 99.67 -0.1 3.5 3.7
JPY / INR (Spot) 0.547 -0.80 -6.67 -3.34 -1
JPY 100 / INR April’13
Futures (NSE)
54.92 -0.90 -6.24 -3.75 -1
JPY 100 / INR April’13
Futures (MCX-SX)
54.94 -0.85 -6.24 -3.73 -1
Source:
Technical Chart – JPY
Source: Te
Y/INR
e Japanese Yen appreciated by 0.1 percent in the yesterday’s trading
ssion on the back of favorable economic data from the country.
wever, sharp upside in the currency was prevented as a result of rise in
k appetite in the global market sentiments which will lead to decline in
mand for the low yielding currency.
pan’s Tertiary Industry Activity increased by 1.1 percent in February as
ainst a decline of 1.5 percent a month ago. The Yen touched an intra-
y high of 99.10 and closed at 99.67 against dollar on Thursday.
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 12, 2013
Trend Support Resistance
/INR April ’13
E/MCX-SX)Down 54.50/54.20 55.30/55.60
onomic Indicators to be released on April 12, 2013
icator Country Time (IST) Actual Forecast Previous Impact
tiary Industry Activity m/m Japan 5:20am 1.1% 0.8% -1.1% Medium
ustrial Production m/m Europe 2:30pm - 0.3% -0.4% Medium
OFIN Meetings Europe Day 1 - - - Medium
ro group Meetings Europe All Day - - - Medium
re Retail Sales m/m US 6:00pm - -0.1% 1.0% High
m/m US 6:00pm - -0.2% 0.7% High
tail Sales m/m US 6:00pm - 0.0% 1.1% High
re PPI m/m US 6:00pm - 0.2% 0.2% Medium
MC Member Rosengren Speaks US 6:15pm - - - Medium
lim UoM Consumer Sentiment US 7:25pm - 79.1 78.6 High
siness Inventories m/m US 7:30pm - 0.4% 1.0% Medium
d Chairman Bernanke Speaks US 10:00pm - - - High
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