Daily Currency Report 26th Dec

7/30/2019 Daily Currency Report 26th Dec

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Currencies Daily ReporWednesday| December 26, 201

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Content

Overview

US Dollar

Euro

GBP

JPY

Economic Indicators

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Research Team

Fundamental Team

Nalini Rao - Sr. Research Analyst

[email protected](022) 2921 2000 Extn. 6135

Anish Vyas - Research Analyst

[email protected]

(022) 2921 2000 Extn. 6104

Overview:





Highlights

Indian rupee appreciated 0.2 percent in yesterday.

Markets remained dull due to Christmas vacations.

sia markets are trading on a firm note taking cues from optimism that

he new government in power is expected to announce stimulus

measures to boost the economy and tackle deflation of the nation.

US Dollar Index

S Dollar Index (DX) traded on the flat note due to rise in the risk aversion

n the global markets and dull trades due to Christmas holidays. The index

ained in the later part of day due to stalemate caused after difference in

pinion amongst the law makers over the resolution of the fiscal cliff

sue.

S equities settled with negative bias on Monday as worries over the

scal cliff issue of the nation still persists and the deadline for solving the

ame was less. This caused risk aversion in the global markets and

nitiated selling pressure amongst the market participants. If the law

makers are unable to resolve the debt issue that might cause automatic

pending cuts and tax hikes pushing the US economy back into recession.

he index touched an intra-day low of 79.45 and closed at 79.75 on

Monday.

Dollar/INR

he Indian Rupee appreciated 0.2 percent on Monday taking cues on theack of dollar selling by the exporters along with sustained capital inflows

y the FIIs. The rupee also gained tracking the firm performance of the

omestic equity markets along with weak Dollar Index. The rupee closed

t 54.95 after touching a high of 54.95 on Monday.

or the current month FII inflows totaled at Rs. 19353.50 crores till 24th

ecember 2012. While year to date basis, net capital inflows stood at Rs.

,22,625.60 crores till December 24th

2012.

utlook

n today’s session, we expect Indian Rupee to depreciate due to weak

obal market sentiments along with strength in the DX. Month end and

ear end dollar demand is likely to depreciate the currency further.

Market Highlights (% change) as on December 24,

LastPrev.

dayWoW MoM

NIFTY 5855.8 0.1 0.0 4.1

SENSEX 19255.1 0.1 0.1 4.0

DJIA 13139.08 -0.4 -0.7 1.0

S&P 1426.7 -0.2 -0.2 1.2

FTSE N/A N/A N/A N/A

KOSPI 1981.8 0.1 -0.1 3.7

BOVESPA N/A N/A N/A N/A

NIKKEI N/A N/A N/A N/A

Nymex Crude

(Jan’13) - $/bbl

85.93 0.8 0.8 -0.4

Comex Gold (Feb’12)

- $/oz

1658.60 0.0 -2.3 -5.3

ComexSilver(Mar’12) $/oz

2983.90 -1.0 -7.3 -12.5

LME Copper (3

month) -$/tonne

7818.00 -0.4 -2.9 0.5

CRB Index

(Industrial)

N/A N/A N/A N/A

G-Sec -10 yr @7.8% -

Yield

100.12 0.1 0.1 0.7

Source:

US Dollar (% change) as on December 24,

LastPrev.

dayWoW MoM

Dollar Index 79.75 0.0 0.3 -0.6

US $ / INR (Spot) 54.95 0.2 -0.2 0.9

US $ / INR Dec’12

Futures (NSE)

54.99 -0.32 0.08 -1.08

US $ / INR Dec’12

Futures (MCX-SX)

54.99 -0.33 -1.07 -1.07

Source:

Technical Chart – USD/INR

Source: T

Technical Outlook valid for December 26, 2

Trend Support Resis

US Dollar/INR Dec’12

(NSE/MCX-SX)Sideways 54.80/54.60 55.20/





Euro (% change) as on December 24, 2012

Last Prev. day WoW MoM

Euro /$ (Spot) 1.3186 0.0 0.2 1.6

Euro / INR (Spot) 72.62 0.0 -0.7 -1.1

Euro / INR Dec’12

Futures (NSE)

72.72 -0.12 0.66 1.47

Euro / INR Dec’12

Futures (MCX-SX)

72.7 -0.13 0.63 1.47

Source: Re

Technical Chart – Euro

Source: Tele

GBP (% change) as on December 24, 20

Last Prev. day WoW MoM

$ / GBP (Spot) 1.6121 -0.3 -0.5 0.6

GBP / INR (Spot) 88.618 -0.47 -0.02 -0.27

GBP / INR Dec’12

Futures

(NSE)

89.065 -0.55 0.16 0.59

GBP / INR Dec’12

Futures

(MCX-SX)

89.065 -0.55 0.16 0.59

Source: Re

uro/INR

uro also ended on a mixed note on Monday. The currency witnessed

rength in the early part of the trade due to weakness in the DX.

Worries over the US fiscal cliff issue created risk aversion and

rengthened the DX. The currency touched an intra-day high of 1.3189

nd closed at 1.3186 on Monday.

utlook

the intra-day, we expect Euro to depreciate on the back of weak

obal market sentiments along with strength in the DX.

echnical Outlook valid for December 26, 2012

Trend Support Resistance

ro/INR Dec’12

SE/MCX-SX)Up 72.59/72.30 72.90/73.10

BP/INRhe Pound depreciated 0.3 percent on Monday due to weak global

arket sentiments and strength in the DX in the later part of the day.

ull trades were witnessed due to Christmas vacation. It touched an

tra-day high of 1.6295 and closed at 1.6277 on Thursday.

utlook

today’s session, we expect Pound to trade in a narrow range as the

arkets are closed today due to observance of boxing day.

echnical Outlook valid for December 26, 2012


BP/INR Dec ’12

SE/MCX-SX)Down 88.85/88.55 89.25/89.55




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JPY (% change) as on December 24, 20

Last Prev day WoW MoM

JPY / $ (Spot) 84.92 0.8 1.2 3.0

JPY / INR (Spot) 0.6474 -0.93 -0.74 -3.76 -4

JPY 100 / INR Dec’12Futures (NSE)

65.13 -0.71 -0.80 -3.62 -3

JPY 100 / INR Dec’12

Futures (MCX-SX)

65.13 -0.71 -0.81 -3.63 -3

Source:

Technical Chart – JPY

Source: Te

Y/INR

e Japanese Yen depreciated 0.8 percent due announcement of stimulus

easures by the new government in power. Decline in the demand for

e low yielding currency also caused depreciation in the currency. It

uched an intra-day low of 84.94 and closed at 84.92 on Monday.

tlook

the intra-day session, we expect to yen to depreciate due to

pectation the new government would take aggressive steps to curtail

flation thereby boosting the economy.

chnical Outlook valid for December 26, 2012


/INR Dec ’12

E/MCX-SX)Sideways 64.90/64.70 65.45/65.70

Economic Indicators to be released on December 26, 2012

ndicator Country Time (IST) Actual Forecast Previous Impact

Monetary Policy Meeting Minutes JPY 5:20 am - - - Medium

German Bank Holiday EUR All Day - - - Low

talian Bank Holiday EUR All Day - - - Low

UK Bank Holiday UK All Day - - - Low

&P/CS Composite-20 HPI y/y US 7:30 pm - 3.9% 3.0% Medium

Daily Currency Report 26th Dec

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