Weekly Forex tips

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Weekly Forex tips

Post  udittrifid on Tue Apr 02, 2013 3:25 pm

Currency Weekly Report for 02/April./2013 – 05/April./2013

Paring early losses, the rupee gained seven paise to close fiscal year 2012-13 at 54.29 against dollar on renewed selling of the US currency by exporters, amid a fag-end recovery in local equities. Continued capital inflows and a weak dollar overseas also supported the local currency. The country’s foreign exchange reserves rose for the second consecutive week, going up by $ 1.05 billion to $ 293.37 billion on a rise in the core currency assets. Foreign currency assets, a major component of the forex reserves, were up by $ 1.06 billion to $ 260.41 billion for the week ended March 22, the Reserve Bank said.

Domestic Forex Updates:

India’s forex reserves jump $1 billion to $ 293.37 billion.
Rupee up 7 paise at 54.29 Vs USD; ends FY’13 with over 7% loss.
Yuan closes higher but pulls back from record on PBOC stability push.

USDINR

USDINR on its weekly charts is moving in a symmetrical triangle pattern and it will face strict resistance near the upper band around 55.3000 levels above which next resistance is seen near 55.9000. If it surpasses the support level of 53.7500 then it may fall further towards lower levels around 53.1000.

EURINR

EURINR continued its bearish rally and closed on a negative note last week. On weekly charts, it will find its strong support near the trend line around 69.4500. Sustaining below this level will result in a negative breakout towards 68.5000 while if reversals occur from this support level then it may move in the range of 70.5500-71.0000.

Global Forex Updates:

Yen Set for Longest Monthly Drop in 12 Years on Easing.
China’s Yuan Rises to 19-Year High as Central Bank Boosts Fixing.
Flaherty Said to Get Carney Replacement List Next Week.

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udittrifid

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Currency Weekly Report for 08/April./2013 – 12/April./2013

Post  udittrifid on Mon Apr 08, 2013 10:56 am



The Indian rupee rose on Friday, snapping two sessions of losses, but the gains lacked conviction as the local currency remained buffeted by fears of political instability and macro-economic concerns. The falls come even after the Bank of Japan’s massive stimulus announced on Thursday is seen potentially unleashing global money flows. Investors will continue to focus on foreign flows next week, while consumer price inflation and factory output data on April 12 will also be the key for domestic currency markets.

udittrifid

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Currency Weekly Report for 08/April./2013 – 12/April./2013

Post  udittrifid on Sat Apr 13, 2013 10:33 am

The Indian rupee rose on Friday, snapping two sessions of losses, but the gains lacked conviction as the local currency remained buffeted by fears of political instability and macro-economic concerns. The falls come even after the Bank of Japan’s massive stimulus announced on Thursday is seen potentially unleashing global money flows. Investors will continue to focus on foreign flows next week, while consumer price inflation and factory output data on April 12 will also be the key for domestic currency markets

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