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WEEKLY FOREX REPORT BY EPIC RESEARCH-01 OCTOBER 2012

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WEEKLY FOREX REPORT BY EPIC RESEARCH-01 OCTOBER 2012 Powered By Docstoc
					                      WEEKLY FOREX REPORT
                       1ST OCTOBER 2012




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                                    HEADLINES


                                    Rupee to touch 50-mark against dollar in 2-4
                                    months: Govt
                                    The government on Friday said the rupee could touch
                                    the 50-mark to a dollar in the next four months on the
                                    back of strong inflow of foreign currency."If rupee
                                    further strengthens, which we hope it will, with the
                                    steps the government is taking, we expect it could even
                                    touch 50 in the next 2-3 months or four months,"
                                    Department of Economic Affairs secretary Arvind
                                    Mayaram told reporters here.


    RBI REFERENCE RATE             Forex reserves slip $ 500 million to $ 293.97
                                    billion
       As on 28th September 2012
                                     The foreign exchange reserves fell by $ 502.4 million
                                     to $ 293.97 billion due to fall in the currency assets,
                                     according to Reserve Bank data released today. The
 UNDERLYING           RATE
                                     total reserves had risen $ 2.44 billion to $ 294.47
   USDINR             52.6970        billion in the previous reporting week.

   EURINR             68.1485
                                    Sterling falls vs euro on Spain's draft budget
   GBPINR             85.7117       Sterling fell against the euro on Friday after investors
    JPYINR            68.0000       gave a cautious welcome to Spain's 2013 draft budget,
                                    although losses were expected to be capped by
                                    uncertainty over when the country may ask for a
                                    bailout.




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PRODUCT      EXP DATE        OPEN       HIGH        LOW        CLOSE          LTP        CHG    PERCENTAGE
 NAME                                                                                             CHANGE


            DAILY MARKET STATISTICS (As on 28thSeptember 2012)
 CHANA       7/19/2012       4556       4573        4525        4560          4532        -28      -0.61

                                                                                                  Prev.
  Symbol     Series/Expiry       Unit          Open         High        Low           Close
 CHILLI      7/19/2012       5060       5060        5018        5120          5018       -102      -1.99
                                                                                                  Close


  EUR-INR
  GUR         29-Oct-2012
             7/19/2012       1188 EUR 1188 68.4000
                                1                1178 68.6600 68.2000
                                                           1183.5   1178 68.5550
                                                                             -5.5                 68.6025
                                                                                                    -0.46

  EUR-INR
 JEERA                       1               14650 68.7850 68.4150
              27-Nov-2012 14955EUR 1496068.5300
             7/19/2012                                 15052.5   14800 68.7250
                                                                          -252.5                  68.8300
                                                                                                    -1.68

  GBP-INR
 KAPAS        29-Oct-2012
             7/19/2012       1044 GBP 1053 86.1000
                                1                1035 86.1000 85.5125
                                                           1049     1041 85.9050
                                                                              -8                  86.3625
                                                                                                    -0.76

  GBP-INR
 PEPPER                      1               42250 86.1800 85.7800
              27-Nov-2012 42300GBP 4255586.1000
             7/19/2012                                  42390    42435 86.1450
                                                                            45                    86.5550
                                                                                                    0.11


  JPY-INR
REF SOYA      29-Oct-2012
             7/19/2012       780.5 JPY 783.668.3000
                               100                777.4 68.3400 67.8400
                                                             782.85   781.3 68.2875
                                                                                -1.55             68.6325
                                                                                                    -0.2


  JPY-INR
SOY BEAN      27-Nov-2012
             7/19/2012       4309 JPY 4330 68.2900
                               100              4265.5 68.5250 68.0600
                                                            4303     4315 68.4675
                                                                               12                 68.7825
                                                                                                    0.28


  USD-INR
TURMERIC      29-Oct-2012
             7/19/2012       4600 USD 4676 53.1000
                                1                4518 53.1100 52.7225
                                                           4664     4540 53.0525
                                                                             -124                 53.3400
                                                                                                    -2.66


  USD-INR
 WHEAT        27-Nov-2012
             7/19/2012       1251 USD 1282 53.2525
                                1                1251 53.3225 52.9350
                                                           1246     1282 53.2550
                                                                              36                  53.5275
                                                                                                    2.89


  USD-INR    27-Dec-2012        1 USD          53.5100     53.5200     53.1600        53.4800     53.7925




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                         WEEKLY USD/INR CHART




ANALYSIS
OPEN: 53.5200
HIGH: 53.5375
LOW: 52.7225
CLOSE: 53.0525

      USD/INR LOOKS DOWNWARDS
      TREND: BEARISH
      STRATEGY: SELL ON RISE
                          WEEKLY EUR/INR CHART




ANALYSIS
OPEN: 69.2100
HIGH: 69.2850
LOW: 68.2000
CLOSE: 68.5550

      EUR/INR LOOKS DOWNWARDS
      TREND: BEARISH
      STRATEGY: SELL ON RISE




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                                FOREX FORTHCOMING EVENTS

DAY           TIME       CURRENCY DETAILS                                  ACTUAL       FORECAST      PREVIOUS

MONDAY        10.00PM USD              Fed Chairman Bernanke Speaks

TUESDAY       7.30 PM    USD           ISM Non-Manufacturing PMI                           50.0             49.6

WEDNESDAY      7.30PM    USD           New Home Sales                                     381K              372K

THURSDAY      6.00 PM    EUR           ECB Press Conference

THURSDAY        11.30    USD           FOMC Meeting Minutes
                 PM
FRIDAY        6.00 PM    USD           Unemployment Rate                                  8.2%              8.1%

FRIDAY        6.00 PM    USD           Non-Farm Employment Change                         111K               96K


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