Currency Daily Report September 11 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:

CurreWed

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 Repornesday| September 11, 201

www.angelbroking.com

s not warrant its accuracy, completen

oduced, distributed or published, in who

ng.com



ghlights

ndian Rupee appreciated more than 2 percent in y

Syria tensions eases after US pulled out its military

French Industrial Production declined by 0.6 percen

an markets are trading higher today on the ba

rack Obama pulled US from the verge of military st

S Dollar Index

e Dollar Index closed on a flat note on Tuesday as

s developed ahead of the FOMC monetary policy r

e 18th Sep’13. While the Fed had indicated in th

per could begin from Sep’13 onwards, the likeli

stponed is also seen considering the ongoing

nsions that still need a focused strategy to resolve.

ollar/INR

versal in the Rupee became even stronger

preciating around 2.1 percent in yesterday’s trad

r dollar.

intraday trade on Tuesday, the Rupee touched a

llar and gains in the currency were backed by – s

s that purchased approximately around Rs2563.6

Tuesday, dollar selling by banks on expectations

e Rupee and overall upbeat risk appetite due tomestic equities.

r the month of September 2013, FII outflows tot

ores ($329.10 million) as on 10th

September 2013.

t capital inflows stood at Rs.62331.90 crores ($11th

September 2013.

tlook

today’s trade, appreciation in the Rupee is expec

arkets take positive cues from recent announcemRBI Governor Raghuram Rajan.

ong with that, FII buying, strong domestic equities a

nks will additionally support appreciation in the

dex is expected to trade on a flat note as sentime

per process remain mixed.

CurreWed

sterday’s trade.

ctions.

t in month of July.

k of US President

ike against Syria.

a sense of caution

view scheduled on

past that the QE

hood of it getting

Syrian geopolitical

ith the currency

to close at 63.84

high of 63.775 per

trong inflows from

cr of Indian shares

of further gains in

strong global and

aled at Rs.2162.10

Year to date basis,

912.40 million) till

ted to continue as

nts and measures

nd dollar selling by

Rupee. The Dollar

ts towards the QE

Market Highlights (% change)

Last

NIFTY 5896.8

SENSEX 19997.1

DJIA 15191.06

S&P 1684.0

FTSE 17463.5

KOSPI 1959.2

BOVESPA 58497.8

NIKKEI 14506.3

Nymex Crude

(Oct’13) - $/bbl

107.39

Comex Gold

(Oct’13) - $/oz

1364.10

Comex

Silver(Dec’13)

$/oz

22.97

LME Copper (3

month) -$/tonne

7174.00

G-Sec -10 yr

@7.8% - Yield

102.09

US Dollar (% change)

Last

Dollar Index 81.82

US $ / INR (Spot) 63.84

US $ / INR Sep’13

Futures (NSE)

64.14 -

US $ / INR Sep’13

Futures (MCX-SX)

64.15 -

Technical Chart – USD/INR

Technical Outlook

US Dollar/INR Sep’13

(NSE/MCX-SX)



as on September 10,

Prev.

dayWoW MoM

0.0 10.4 5.9

3.8 9.7 6.4

0.8 2.4 -1.7

0.7 -0.4 -0.4

1.3 0.0 0.0

-1.5 1.3 2.4

0.2 13.3 14.9

0.2 -0.1 5.4

-1.9 -1.1 0.5

-1.6 -1.9 2.3

-3.0 -1.7 5.4

-0.4 -1.1 -8.6

0.0 11.7 9.1

Source:

as on September 10

rev.

dayWoW MoM

0.0 -0.7 0.0

2.1 5.6 -5.1

2.53 4.92 4.92

2.50 4.92 4.92

Source: T

valid for September 11,

Trend Support Res

Down 63.80/63.40 64.60



uro/INR

he Euro witnessed gains of around 0.1 percent in

ositive economic data supported gains in the curre

obal market sentiments acted as a positive fact

pside in the currency was capped as a result of str

uro touched an intra-day high of 1.3275 and cl

uesday.

rench Industrial Production declined by 0.6 percen

ll of 1.4 percent a month ago.

utlook

ains in the Euro are expected to continue today o

sk appetite in the global market sentiments. Furth

X along with favorable economic data from the re

pside in the currency.

echnical Outlook valid

Trend Sup

ro/INR Sep’13

SE/MCX-SX)Down 84.70/84

BP/INR

he Sterling Pound appreciated around 0.3 percent

n account of optimistic global market sentimenpside was capped as a result of strength in the DX.

ouched an intra-day high of 1.5744 and closed at 1.

utlook

today’s trade, we expect Pound to trade on a

ues from upbeat global market sentiments. Further,

ill also act as a supportive factor for the cur

recast for decline in country’s claimant count c

ositive factor.

echnical Outlook valid fo

Trend Suppo

BP/INR Sep ’13

SE/MCX-SX)Down 100.40/100

CurreWed

Euro (% change)

Last Prev

Euro /$ (Spot) 1.3267

Euro / INR (Spot) 84.70

Euro / INR Sep

’13 Futures (NSE)

86.3

Euro / INR

Sep’13 Futures

(MCX-SX)

86.3

Technical Chart – Euro

GBP (% change)

Last Prev.

$ / GBP (Spot) 1.5733 0

GBP / INR

(Spot)

100.435 -1

GBP / INR

Sep’13 Futures

(NSE)

100.61 -1

GBP / INR Sep

’13 Futures

(MCX-SX)

100.64 -1

Technical Chart – Sterling Pound

esterday’s trade as

cy. Further, upbeat

or. However, sharp

ngth in the DX. The

osed at 1.3267 on

in July as against a

n the back of rise in

er, weakness in the

gion will support an

or September 11, 2013

ort Resistance

.30 85.40/85.70

in yesterday’s trade

ts. However, sharpThe Sterling Pound

733 on Tuesday.

ositive note taking

weakness in the DX

rency. Additionally,

hange will act as a

r September 11, 2013

rt Resistance

.0 101.10/101.40



as on September 10, 2013

. day WoW MoM

0.1 0.7 -0.8

2.0 4.9 -4.3

1.57 5.51 5.51

1.60 5.54 5.54

Source: Re

Source: Tele


ay WoW MoM

.26 1.1 1.3

.94 -2.12 6.72

.79 6.06 6.06

.79 6.09 6.09

Source: Re

Source: Tele



Y/INR

e Yen weakened around 0.8 percent on Monday o

k appetite in the market sentiments which led to fal

w yielding currency. The Yen touched an intra-day

sed at 100.40 in yesterday’s trade.

pan’s Business Survey Index (BSI) Manufacturing I

2 points to 15.2-mark in Q3 of 2013 from 5-le

rporate Goods Price Index (CGPI) increased by 2.4

ainst a rise of 2.3 percent a month ago.

tlook

th sentiments remaining upbeat in the global

ntiments towards Japan becoming bullish due to

n is expected.

chnical Outlook valid

Trend Suppo

/INR Sep ’13

E/MCX-SX)Down 63.70/63.

Economic Indicators to be released on

ndicator Country

BSI Manufacturing Index Japan

Claimant Count Change UK

Average Earnings Index 3m/y UK

Unemployment Rate UK

German 10-y Bond Auction Euro

Crude Oil Inventories US

MPC Member Miles Speaks UK

10-y Bond Auction US

CurreWed

JPY (% change)

Last P

JPY / $ (Spot) 100.4

JPY / INR (Spot) 0.637

JPY 100 / INR Sep’13

Futures (NSE)

63.88

JPY 100 / INR Sep’13

Futures (MCX-SX)

63.90

Technical Chart – JPY

the back of rise in

ll in demand for the

low of 100.46 and

Index increased by

el in Q2 of 2013.

ercent in August as

markets and with

lympics, fall in the

or September 11, 2013

rt Resistance

0 64.40/64.70

September 11, 2013

Time (IST) Actual Forecast P

5:20am 15.2 7.2

2:00pm - -21.2K

2:00pm - 1.3%

2:00pm - 7.8%

Tentative - -

8:00pm - -

9:00pm - -

10:30pm - - 2


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rev day WoW MoM

0.8 0.8 3.8

-2.72 -6.29 0.94 -1

-3.25 0.59 0.59 -2

-3.25 0.65 0.65 -2

Source:

Source: Te

evious Impact

5.0 Medium

-29.2K High

2.1% Medium

7.8% Medium

.8/1.3 Medium

-1.8M Medium

- Medium

.62/2.5 Medium

Currency Daily Report September 11 2013

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Transcript of Currency Daily Report September 11 2013