Free Currency Market Weekly News
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Transcript of Free Currency Market Weekly News
28 JULY – 01 AUGUST 2014
W E E K L Y
Buy on fear, sell on greed.
Buy on the rumor, sell on the news.
The trend is your friend.
Amateurs want to be right.
Professionals want to make money.
REPO RATE 8%
REVERSE REPO 7%
KEY RATES As on 25/07/2014
MARKET EVENTS MARKET OUTLOOK
Rupee fell 0.3% for the week and
was first weekly loss in three in a
week supported by foreign buying in
absence of major events or factors.
Range bound trading was seen as
heavy dollar demand from importers
was seen to meet month end
commitments was offset from
custodian banks. Major reason for
strength in dollar was US treasury
prices fell on Thursday after jobless
claims dropping to their lowest since
eight years. However, FOMC meet in
coming week, other Asian currencies
and moves in domestic shares are to
be monitored for further movement
Rupee edges up but snaps
two-week gaining streak.
Euro digs in after rebounding
Dollar Climbs Most in 4
Months before Fed on Jobs
China's Yuan breaks three-day
rising streak, guided by
RATE % CHANGE
USDINR 60.4000 60.1100 -0.48
EURINR 81.6850 80.8625 -1.00
GBPINR 103.2150 102.0575 -1.12
JPYINR 59.5950 59.0125 -0.97
USDINR last week showed sideways movement and closed on a flat note. On daily charts, rough
Head & Shoulder pattern is seen according to which if it breaks the neck line then major support
is seen near 59.8000 closing below which it may drag down. On higher side, immediate resistance
is seen around 60.3000 sustaining above which may confirm upmove.
EURINR last week surpassed the major support of 81.4000 and sustained below this mark. If this
bearishness continue then 80.2000 is seen as key support level. On higher side, any closing above
81.4000 may confirm strength which may result in upmove.
CURRENCIES S1 S2 S3 R1 R2 R3 USDINR 59.8000
59.5000 59.2000 60.5000 60.7000 61.0000
EURINR 80.5000 80.2000 79.9000 81.3000 81.6000 82.0000
GBPINR 101.7000 101.3000 100.8000 102.4000 102.8000
JPYINR 58.8000 58.4000 58.0000 59.3000
DATE TIME COUNTRY EVENT BLOOMBERG
Sales m/m -0.2% 6.1%
PM US FOMC Statement _ _
Claims 306K 284K
Rate 6.1% 6.1%
Brazil Real Falls as Overseas Turmoil Saps Emerging-Market
Pound Has Steepest Week Drop in Four Months as Rally Seen
Canada Dollar Drops to Five-Week Low on Economic Concern.