DAILY FOREX REPORT BY EPIC RESEARCH- 8 JANUARY 2013

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DAILY FOREX REPORT BY EPIC RESEARCH- 8 JANUARY 2013 Powered By Docstoc
					                DAILY FOREX REPORT

                  8TH JANUARY 2013




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                        HEADLINES
                        Rupee falls to 1 month low on euro, share losses

                        The rupee fell to an over 1-month low in late trade on
                        Monday as local stocks slipped and the euro weakened as
                        last week's Federal Reserve minutes continued to cast
                        doubt over future US monetary stimulus. The BSE stock
                        index gave up early gains to end down 0.47 per cent. The
                        rupee was at 55.26/27 per dollar as of 1010 GMT, it’s
                        weakest since Nov 29, and down from its previous closes
                        of 55.07/08.

                        Rupee slips 13 paise against dollar; fails to
                        maintain upward momentum

 TRADING TIPS          Failing to maintain its initial upward momentum, the
                        rupee today slid by 13 paise to 55.03 against the dollar in
 BUY USD/INR           late morning trade due to bouts of demand for the US
  ABOVE 55.47           currency from banks and oil importers amid firm cues
  FOR TGT               overseas.The rupee had gained 17 paise in the early

  55.62/55.77           morning trade and was trading at 54.90.The local
                        currency resumed higher at 55 per dollar as against the
  SL 55.32
                        previous closing level of 55.82 at the Interbank Foreign
 PAST
                        Exchange (Forex) Market. It traded in a range of 54.90
  PERFORMANCE           and 55.04 before quoting 55.03 at 1110 hrs.
 BUY EUR/INR
  ABOVE 71.97                          REFERENCE RATE
  FOR TGT                              As on 7THJanuary 2013
  72.12/72.27
                                 UNDERLYING                RATE
  SL 71.82
                                   USDINR                 54.9780
  TARGET ACHIEVED
                                   EURINR                 71.6690

                                   GBPINR                 88.1077

                                    JPYINR                62.6700




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                               DAILY MARKET STATISTICS

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

 Symbol     Series/Expiry       Unit             Open         High        Low         Close      Prev. Close
 CHANA      7/19/2012       4556        4573        4525         4560      4532      -28          -0.61

 EURINR     29-Jan-2013        1 EUR            72.0200      72.4000     71.8675     72.3375      71.9600
 CHILLI     7/19/2012       5060        5060        5018         5120      5018      -102         -1.99


  GUR       7/19/2012       1188        1188        1178        1183.5     1178      -5.5         -0.46
 EURINR     26-Feb-2013        1 EUR            72.3175      72.6200     72.0875     72.5650      72.1825

 JEERA      7/19/2012       14955      14960        14650      15052.5     14800    -252.5        -1.68
 GBPINR     29-Jan-2013        1 GBP            88.5750      89.1300     88.3250     89.0200      88.5950
 KAPAS      7/19/2012       1044        1053        1035         1049      1041       -8          -0.76


 GBPINR
 PEPPER      26-Feb-2013 42300 GBP 4255588.8500
            7/19/2012        1               42250 89.4000
                                                       42390             88.6000
                                                                           42435     89.3000
                                                                                      45          88.8575
                                                                                                  0.11


REF SOYA    7/19/2012       780.5       783.6       777.4       782.85     781.3     -1.55        -0.2
 JPYINR     29-Jan-2013       100 JPY           62.5925      63.2700     62.5425     63.1600      62.7100

SOY BEAN    7/19/2012       4309        4330        4265.5       4303      4315       12          0.28

 JPYINR     26-Feb-2013       100 JPY           62.8750      63.4750     62.7450     63.3525      62.9050
TURMERIC    7/19/2012       4600        4676        4518         4664      4540      -124         -2.66


 USDINR
 WHEAT       29-Jan-2013
            7/19/2012          1USD 1282 55.2325
                                              1251 55.5350
                            1251                       1246              55.1125
                                                                            1282     55.4700
                                                                                      36          55.3325
                                                                                                  2.89



 USDINR     26-Feb-2013        1 USD            55.4200      55.7700     55.3675     55.7175      55.5800



 USDINR     27-Mar-2013        1 USD            55.6925      56.0100     55.6200     55.9575      55.8275




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                               DAILY USD/INR CHART




ANALYSIS
OPEN: 55.1800
HIGH: 55.5350
LOW: 55.1200
CLOSE: 55.4700

    USD/INR LOOKS UPWARDS
    TREND: BULLISH

    STRATEGY: BUY ON DIPS




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                              DAILY EUR/INR CHART




ANALYSIS
OPEN: 72.3375
HIGH: 72.4000
LOW: 72.3375
CLOSE: 72.3375

    EUR/INR LOOKS UPWARDS
    TREND: BULLISH
    STRATEGY: BUY ON DIPS




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                              FOREX FORTHCOMING DATA
    TIME                CURRENCY                           DATA                    ACTUAL          FORECAST           PREVIOUS
   3:30pm                   EUR                    Retail Sales m/m                                    0.5%               -1.2%

   3:30pm                   EUR                 Unemployment Rate                                     11.8%               11.7%


   4:30pm                   EUR                German Factory Orders                                   -1.4%              3.9%
                                                      m/m

   8:30pm                   USD                  IBD/TIPP Economic                                     46.3                45.1
                                                     Optimism

   9:30pm                   USD                 Crude Oil Inventories                                  -1.6M              -1.0M


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          www.epicresearch.co                                                                       +919752199966

				
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