Currency Daily Report August 28 2013

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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 Reporednesday| August 28, 201

www.angelbroking.com

s not warrant its accuracy, completen

oduced, distributed or published, in who

ng.com



ghlights

ndian Rupee touched an all time low of 66.30 in ye

US CB Consumer Confidence gained to 81.5-level in

German Ifo Business Climate increased to 107.5-ma

an markets are trading lower today on the back

ria and US along with favorable economic data fro

de increased the concerns of QE tapering from the

Standard & Poor's (S&P) / Case-Shiller (CS) Compo

dex (HPI) rose at slow pace of 12.1 percent in June

.2 percent a month ago. Richmond Manufacturin

ark in August from -11-level in July. Conference Bo

nfidence gained by 0.5 points to 81.5-level in c

spect to 81-mark in last month.

S Dollar Index

e US Dollar Index (DX) declined around 0.3 per

ding session on the back of more than expected rinfidence data.

wever, sharp downside in the currency was cushi

e in risk aversion in global market sentiments alon

at QE tapering from Federal Reserve will be possi

onomic data from the US. The currency touched

.14 and closed at 81.20 on Tuesday.

ollar/INR

e Indian Rupee depreciated more than 3 perc

ding session. The currency depreciated on the bllar demand from oil importers and companies.

garding Current Account Deficit (CAD) and econo

untry exerted downside pressure on the currency.

ditionally, outflow of foreign funds from equities a

gative factor. Finance Minister P Chidambaram

vestor confidence by approving infrastructure proj

lion ($28.4 million) but was not able to provide reli

pee. The currency touched an all time low of 6

me levels on Tuesday.

r the month of August 2013, FII outflows totaled a

550.50 million) as on 27th

August 2013. Year to dat

lows stood at Rs.62,521.0 crores ($11,935.30 milli

13.

tlook

today’s session, we expect Rupee to trade on a

sult of weak global and domestic market sentiment

the DX will exert downside pressure on the cur

llar demand from oil importers and companies

rm worries regarding the CAD and economic gro

l act as a negative factor.

Curre

sterday’s trade.

current month.

rk in August.

f tension between

US in yesterday’s

Federal Reserve.

site-20 House Price

as against a rise of

Index was at 14-

ard (CB) Consumer

rrent month with

ent in yesterday’s

se in US consumer

oned as a result of

with expectations

ble after favorable

n intra-day low of

ent in yesterday’s

ack of month endFurther, concerns

my growth of the

nd debt acted as a

tried to lift the

ects worth Rs.1.83

ef to free fall in the

.30 and closed at

Rs.3571.40 crores

e basis, net capital

on) till 27th

August

negative note as a

s. Further, strength

ency. Additionally,

coupled with long

th of the country

Market Highlights (% change)

Last

NIFTY 5287.5

SENSEX 17968.1

DJIA 14776.13

S&P 1630.5

FTSE 17463.5

KOSPI 1959.2

BOVESPA 58497.8

NIKKEI 14506.3

Nymex Crude

(Aug’13) - $/bbl

109.01

Comex Gold

(Aug’13) - $/oz

1393.00

Comex

Silver(Sept’13)

$/oz

24.01

LME Copper (3

month) -$/tonne

7309.00

G-Sec -10 yr

@7.8% - Yield

102.09

US Dollar (% change)

Last

Dollar Index 81.20 -

US $ / INR (Spot) 66.30 -

US $ / INR Aug’13

Futures (NSE)

66.41

US $ / INR Aug’13

Futures (MCX-SX)

66.41

Technical Chart – USD/INR

Technical Outlook

US Dollar/INR Aug’13

(NSE/MCX-SX)



as on August 27, 201

Prev.

dayWoW MoM

-3.5 -10.2 -10.2

-3.2 -9.0 -9.0

-1.1 -1.5 -4.7

-1.6 -3.6 -3.6

2.9 0.0 6.0

-1.5 3.8 2.2

0.2 15.8 19.0

0.2 -0.1 1.7

2.9 3.9 3.8

-0.2 1.4 6.1

1.2 4.1 22.4

#N/A -0.2 -6.9

0.0 15.1 9.4

Source:

as on August 27,

rev.

dayWoW MoM

0.3 0.3 -0.9

3.1 -5.1 -12.3

3.01 12.43 12.43

3.02 12.44 12.44

Source: T

valid for August 28, 2013

Trend Support Res

Up 65.80/65.50 66.80



uro/INR

he Euro increased around 0.2 percent in the yest

ues from weakness in the DX. Further, favorable

ermany supported an upside in the currency.

owever, sharp positive movement in the curreccount of weak global market sentiments. The Eur

ay high of 1.3399 and closed at 1.3392 on Tuesday.

erman Ifo Business Climate increased by 1.3 poin

ugust as against a rise of 106.2-level in July.

utlook

today's session, we expect Euro to trade lower o

obal market sentiments. Further, strength in

ownside pressure on the currency. However, shaurrency will be cushioned or reversal can be s

stimates of favorable economic data from the regio

echnical Outlook valid

Trend Sup

ro/INR Aug’13

SE/MCX-SX)Sideways 87.90/87

BP/INR

he Sterling Pound depreciated around 0.2 perce

ack of weak global market sentiments.

owever, sharp downside in the currency was cush

eakness in the DX. The currency touched an intra-

osed at 1.5545.on Tuesday.

utlook

We expect Pound to trade on a negative note in tack of strength in the DX. Additionally, weak global

ill exert downside pressure on the currency. Howe

the currency will be cushioned or reversal can b

stimates of favorable economic data from the cou

nnouncement by Governor in its speech today.

echnical Outlook valid fo

Trend Suppo

BP/INR Aug ’13

SE/MCX-SX)Up 102.30/102.

Curre

Euro (% change)

Last Prev

Euro /$ (Spot) 1.3392

Euro / INR (Spot) 88.79

Euro / INR July

’13 Futures (NSE)

86.2 -

Euro / INR

July’13 Futures

(MCX-SX)

86.2 -

Technical Chart – Euro

GBP (% change)

Last Prev.

$ / GBP (Spot) 1.5545 -0

GBP / INR

(Spot)

103.085 2

GBP / INR

July’13 Futures

(NSE)

102.97 2

GBP / INR July

’13 Futures

(MCX-SX)

102.65 2

Technical Chart – Sterling Pound

rday’s trade taking

conomic data from

cy was capped ono touched an intra-

ts to 107.5-mark in

n the back of weak

the DX will exert

rp downside in theeen as a result of

n.

or August 28, 2013

ort Resistance

.70 88.60/89.10

t yesterday on the

ioned as a result of

ay low of 1.548 and

oday's trade on thel market sentiments

er, sharp downside

seen as a result of

ntry and any major

r August 28, 2013

rt Resistance

.0 103.0/103.50




. day WoW MoM

0.2 -0.2 0.9

-3.3 -4.9 -13.3

2.66 9.93 9.93

2.63 9.94 9.94

Source: Re

Source: Tele


ay WoW MoM

.19 -0.8 1.1

.88 4.22 13.47

.62 13.18 13.18

.29 12.82 12.82

Source: Re

Source: Tele



Y/INR

e Japanese Yen appreciated around 1.5 percent

ding session on the back of weak market sentimen

demand for the low yielding currency. The currenc

y high of 96.96 and closed at 97.02 against the dolla

tlook

e expect Yen to appreciate in today’s session on ac

ersion in global market sentiments which will l

mand for the currency.

chnical Outlook valid

Trend Suppo

/INR Aug ’13

E/MCX-SX)Up 67.40/67.

Economic Indicators to be released on

ndicator Country

GfK German Consumer Climate Euro

M3 Money Supply y/y Euro

CBI Realized Sales UK

BOE Gov Carney Speaks UK

Pending Home Sales m/m US

Crude Oil Inventories US

Curre

JPY (% change)

Last P

JPY / $ (Spot) 97.02

JPY / INR (Spot) 0.684

JPY 100 / INR July’13

Futures (NSE)

67.91

JPY 100 / INR July’13

Futures (MCX-SX)

67.90

Technical Chart – JPY

in the yesterday’s

ts which led to rise

y touched an intra-

r on Tuesday.

count of rise in risk

ead to increase in

or August 28, 2013

rt Resistance

0 63.0/63.50

ugust 28, 2013

Time (IST) Actual Forecast P

11:30am - 7.1

1:30pm - 2.0%

3:30pm - 20

5:15pm - -

7:30pm - 0.2%

8:00pm - 0.2M


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rev day WoW MoM

-1.5 -0.2 -1.3

4.62 5.50 13.91 -

3.91 13.38 13.38 -

3.94 13.36 13.36 -

Source:

Source: Te

evious Impact

7.0 Medium

2.3% Medium

17 Medium

- High

-0.4% High

-1.4M Medium

Currency Daily Report August 28 2013

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Transcript of Currency Daily Report August 28 2013