USD INR: DAILY UPDATE

SWASTIKA INTELLIGENCE GROUP 3rd January 2014

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ting We expect the rupee to trade on a neutral to negative note against the dollar taking cues from weak global markets, stronger dollar index and positive economic data from USA. Technical Outlook: As seen on the daily chart, USDINR has breached a crucial down sloping trend line resistance and closed above that. It is likely that the counter will move higher till the 63.15 mark. On the downside, 62.16 will be an important support.

Currency Time Event

INR 10:30 AM HSBC Markit Services PMI

EUR 2:30 PM M3 Money Supply y/y

GBP 3:00 PM BOE Credit Conditions Survey & Net lending to individuals

USD 9:30 PM Crude Oil Inventories

Rupee shed previous gains and closed at 62.6150 against the dollar in futures. FIIs invested a total of Rs. 881.21 crores in the cash and derivatives market of India on Thursday. Dollar index is currently trading at 80.55 down 0.1 percent from the previous close. The HSBC India Manufacturing Purchasing Managers' Index (PMI) - a measure of factory production - dropped slightly from 51.3 in November to 50.7 in December. The number of Americans seeking unemployment benefits dipped 2,000 last week to a seasonally adjusted 339,000, evidence that layoffs are low and hiring will likely remain steady. US ISM Manufacturing PMI dipped to 57.0 last month from a reading of 57.3 in November.

RBI REFERENCE RATES: ALL CURRENCIES

Currency Rate Previous close %

Change

USD INR 61.9020 61.9335 -0.05

GBP INR 102.7418 102.3885 0.35

EUR INR 85.1556 85.1235 0.04

JPY INR 58.7900 58.8900 -0.17

ONLINE TRADE: USD INR

Instrument Turnover (Cr) Open Interest

Futures 6550.03 732825

Options 1489.27 386280

Total 8039.3 1119105

OUTLOOK FOR TODAY: USD INR

MARKET OVERVIEW

KEY STATISTICS: 2nd January 2013

IMPORTANT ECONOMIC DATA TODAY

USD INR: DAILY UPDATE

SWASTIKA INTELLIGENCE GROUP 3rd January 2014

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CURRENCY CONTRACT S2 S1 LTP R1 R2 TREND

USDINR January 62.2400 62.4700 62.7000 63.0000 63.2400 Sideways to Bullish

EURINR January 85.2400 85.4800 85.8100 85.9600 86.2000 Sideways to Bullish

GBPINR January 102.8000 103.1800 103.6725 104.0200 104.5000 Sideways to Bullish

JPYINR January 58.9400 59.2400 59.4975 59.7600 60.0100 Sideways to Bullish

Report Prepared by Designation E-mail ID Sonakshi Bahety Research Associate sonakshi.bahety@swastika.co.in RESEARCH TEAM SWASTIKA INTELLIGENCE GROUP research@swastika.co.in Santosh Sahu Research Head santosh.sahu@swastika.co.in Santosh Meena Derivatives & Technical Analyst santosh.meena@swastika.co.in Amit Khare Commodity Analyst amit.khare@swastika.co.in Vishnu Shreekar Commodity Analyst vishnu.shreekar@swastika.co.in Saloni Gupta Research Associate salony.gupta@swastika.co.in

CURRENCY TRACKER: 3rd January 2013