WEEKLY FOREX REPORT BY EPIC RESEARCH-09 JULY 2012
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weekly Forex Report(9 TH july2012) Weekly News Rupee slide may resume as US jobs lower than expected. The rupee closed at 55.42 to the US dollar, down 0.9% from the previous close of 54.95. It swung in a range of 54.25 to 54.68 with high volumes that made the RBI step in to reduce the volatility Standard Chartered upgrades rupee; says India may miss fiscal target Rupee gain: RBI announces fresh measures to boost dollar inflows. Standard Chartered upgraded its short-term rating for the rupee to "neutral" from "underweight", and revises its end-September forecast to 56 from previous forecast of 57.50, adding the cross has "likely" hit the high for the year India's forex reserves rise to $289.99 billion: RBI India's foreign exchange reserves rose to $289.99 billion as of June 29, from $288.63 billion in the previous week, the central bank said in its weekly statistical supplement on Friday Euro falls to 2-year low against US dollar. The euro has lost 3.08 percent against the dollar this week, and at current prices is on track for its worst weekly performance since the week ended Sept. 11. The dollar is down 0.27 percent against the yen. www.epicresearch.co+919993959693 Weekly trends of the market EUR/USD sideways ahead of US nonfarm payrolls: Ahead in the American session is the nonfarm payrolls report, with expectations of improvement from 69K to 90K in June Rupee expected to weaken, Gold, Silver to be impacted Indian Rupee is expected to weaken against US dollar index on risk aversion in global markets. India’s Reserve Bank would announce the foreign exchange reserves data for the week on Friday India Rupee to depreciate on rising dollar index Rupee is expected to depreciate on account of rise in risk aversion in the global markets which will lead to rise in demand for DX and add pressure on the Rupee. Additionally, dollar demand from the oil importers will also act as a negative factor for the currency. . The Australian dollar was pressured by euro zone concerns as well as a dovish quarterly statement from the Reserve Bank of Australia and data showing a slump in Chinese imports The dollar also fell against the high –yielding Australian and New Zealand dollar, with the Australian dollar hitting a three month peak at $0.9108. www.epicresearch.co +919993959693 www.epicresearch.co+919993959693 WEEKLY CHARTS EUR/USD USD/JPY www.epicresearch.co +919993959693 www.epicresearch.co+919993959693 GBP/USD USD/INR www.epicresearch.co +919993959693 www.epicresearch.co+919993959693 Disclaimer The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE. The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for . Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved. Investment in equity & bullion market has its own risks. We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above epic research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken. www.epicresearch.co +919993959693