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Date Created: 12/21/15
hmttp://www.trifidresearch.com R W EE E K L Y P 22 JULY - 26 JULY 2013 O Buy on fear, sell on greed. R Buy on the rumor, sell on the news. The trend is your friend. T Amateurs want to be right. Professionals want to make money. http://www.trifidresearch.com MARKET EVENTS MARKET OUTLOOK India's measures to protect its currency Rupee defence drives up govt sent government borrowing costs borrowing costs. sharply higher at a bond auction on Friday and RBI appeared to have intervened anew in the forex market in India's forex reserves support of the rupee. Earlier, the marginally up at $ 280.19 embattled currency fell close to where it had been before a dramatic rescue billion. mission by the RBI late on Monday, which sent bond yields surging and crimped the growth outlook for Asia's Rupee gains on rumoured RBI third largest economy. India's intervention; second week of benchmark 10-year bond ended its worst week in four-and-a-half years, win. with the yield rising 40 basis points, disrupting government debt sales and Sterling takes a breather after undermining central bank efforts to mop up liquidity to make it harder to gains, outlook remains soft. speculate against the rupee. KEY RATES As on 19/07/2013 PREVIOUS CURRENT CURRENCIES % CHANGE RATE RATE REFERENCE RATE 59.7950 USDINR 60.0950 59.5925 -0.83 (USD) REPO RATE 7.25% EURINR 78.3200 78.2100 -0.14 REVERSE REPO 6.25% GBPINR 90.7125 90.9975 0.31 CRR 4% JPYINR 60.4400 59.4300 -1.67 INFLATION 4.86% http://www.trifidresearch.com USDINR USDINR consolidated around 23.6% retracement last week and if correction will continue then 38.2 % retracement of 58.5000 will act as major support below which further bearishness will take it to deeper support levels. On higher side, 60.3100 is seen as immediate resistance above which strength can be said. EURINR EURINR on daily charts is consistently finding resistance of 78.8500 since last three weeks and if it is able to surpass this level then it may lead towards new highs. While on lower side 76.8000 is seen as major support. It needs to give a breakout from this consolidation zone to decide the http://www.trifidresearch.com PIVOT TABLE CURRENCIES S1 S2 S3 R1 R2 R3 USDINR 58.9500 58.3000 57.5000 60.3000 60.9000 61.5500 EURINR 77.5000 76.6000 75.7000 78.8500 79.6500 80.2000 GBPINR 90.4000 89.6500 89.0000 91.5000 92.5500 93.6000 JPYINR 58.4800 57.6500 56.8000 60.0000 60.8800 61.6000 INTERNATIONAL UPDATES Canada Dollar Falls on Fed View to Trail Higher-Yielding Assets. U.S. Outlook Revised by Moody’s to Stable on Deficit Reduction. Rupiah Leads Decline in Asian Currencies Amid China Slowdown. BLOOMBERG PREVIOUS DATE TIME COUNTRY EVENT ESTIMATE LEVEL 22-July-2013 7:30 US Existing Home 5.27M 5.18M PM Sales 24-July-2013 07:30 US New Home Sales 482k 476k PM 25-July-2013 06:00 US Core Durable 0.5% 0.5% PM Goods Orders 06:00 Unemployment http://www.trifidresearch.com DISCLAIMER http://www.trifidresearch.com
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