Weekly Forex tips

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udittrifid

Udit Trifid
Currency Weekly Report for 15/April./2013 – 18/April./2013

The rupee ended flat on Friday as a slump in local stocks after a weak revenue guidance from IT bellwether Infosys, was evened out by hopes the RBI would cut interest rates next month after data showed slowing consumer inflation. The rupee gained a modest 0.5 per cent for the week, which has been marked by concerns about outflows after foreign investors sold a net $37.29 million in equities in April and a net $510.57 million of debt, according to the latest available regulatory data. Markets look ahead at WPI on Monday which will be key in setting expectations ahead of the RBI’s May 3 policy review.
 
Currency Weekly Report for 15/April./2013 %u2013 18/April./2013

The rupee ended flat on Friday as a slump in local stocks after a weak revenue guidance from IT bellwether Infosys, was evened out by hopes the RBI would cut interest rates next month after data showed slowing consumer inflation. The rupee gained a modest 0.5 per cent for the week, which has been marked by concerns about outflows after foreign investors sold a net $37.29 million in equities in April and a net $510.57 million of debt, according to the latest available regulatory data. Markets look ahead at WPI on Monday which will be key in setting expectations ahead of the RBI%u2019s May 3 policy review.
 
Currency Weekly Report for 22/April./2013 %u2013 26/April./2013

The rupee strengthened on Thursday with the underlying sentiment remaining bullish on the back of growing rate cut hopes from the central bank%u2019s upcoming annual monetary policy on May 3. Sharp gains in the domestic share market following the better-than-expected trade data also aided sentiment. India%u2019s exports fell 1.8 per cent in the 2012/13 fiscal year, the trade ministry said on Thursday, but they were up for the third straight month in March, offering some relief to the record current account deficit.
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Currency Weekly Report for 29/April/2013 – 03/May/2013

The Indian rupee ended down on Friday, falling 0.8 percent for the week, dragged by month-end dollar demand from importers and weak equities. Weakness in local stocks, which snapped a four-day winning streak, to end 0.62 percent lower hurt the currency. Continued month-end dollar demand from importers, particularly crude oil importers, had also been a drag on the rupee. The focus now shifts to the central bank’s rate setting meeting next week which is widely expected to lower policy rates by 25 basis points.
 
Domestic Forex Updates:

Forex reserves fall by $ 485 mn to $ 294.76 billion.
Rupee lower on month-end importer demand.
Dollar slips vs yen on profit-taking, Japan exporters.
PBOC guides yuan to another record high; groundwork for band widening.
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Domestic Forex Updates:

Rupee weakens as RBI policy disappoints; sentiment bearish.
Swiss franc steady against dollar ahead of US jobs data.

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Currency Weekly Report for 06/May/2013 – 10/May/2013

The rupee weakened on Friday as the RBI disappointed markets with a hawkish tone in its annual monetary policy, despite delivering a widely expected 25 basis point rate cut. The central bank cut its benchmark interest rate for the third time since January, as growth slows and inflation ebbs, but said there is little room to ease monetary policy further. The Govt on Monday cut the tax on interest payments to foreigners on govt and corporate debt to 5% from up to 20% for a two-year period starting June, in a bid to draw further inflows to bridge the current account deficit and polish its reformist credentials.
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Global Forex Updates:

Pound Climbs a Second Week Versus Dollar as Data Beats Estimates.
Asian Currencies Complete Best Rally Since September on Stimulus.
Canada Dollar Gains as Stimulus Pledge Spurs Appetite for Risk.

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