NRI Newsletter - Market News

NRI Newsletter - Market News

 

 

DATE: Friday, 30th  January 2015               

USD/INR: as on 29th  January, 2015

USD/INR as on 29th January, 2015

Currency

OPEN

HIGH

LOW

CLOSE

USD/INR

61.43

61.87

61.42

61.86

Highest till date: 68.85 on 28th August, 2013

 

Forward premium (%) as on 29th January, 2015

Periods

1 Mth

3 Mth

6 Mth

12 Mth

Premiums

7.47/7.69

7.73/7.86

7.38/7.44

6.96/6.99

The Indian rupee on Thursday slid by 45 paise, its worst singe-session drop in nearly seven weeks, to end at 61.86 against the greenback on month-end dollar demand from importers and banks amid speculation that US Fed is considering raising interest rates later this year. Dollar demand from importers, mainly oil refiners, affected the rupee value against the dollar. However, persistent foreign capital inflows into equity market restricted the rupee's fall. The rupee resumed lower at 61.43 as against Wednesday's closing level of 61.41 at the Interbank Foreign Exchange (Forex). It moved down further to 61.87 before concluding at 61.86, showing a loss of 45 paise or 0.73 per cent. This is its worst daily show since 59-paise drop on December 16, 2014.




 

 

 

 USD/INR Cash/Tom/Spot Levels: (in Paisa)                                      

 (Updated as on 30th January 2015@ 10.00 am )

 

Cash/Spot:      4.00/6.00              Cash/Tom:     3.00/4.50

Tom/Spot:     1.00/1.50               Spot/Next:     1.00/1.50

 

 

Cash Date:  30th   January 2015

         Tom Date: 2nd February 2015.

                  Spot Date: 3rd  February 2015.

 

 

MAJOR WORLD CURRENCIES: as on  29th   January, 2015

USD: The dollar remained broadly supported near more than 11-year highs against the other major currencies on Thursday, after data showed that U.S. jobless claims fell to the lowest level since the year 2000. The dollar also remained supported after the Federal Reserve signaled that interest rates could start to rise around mid-year. The Dollar Index which measures the greenback’s strength against a trade-weighted basket of six major currencies, held steady at 94.85, not far from Friday’s more than 11-year highs of 95.77.

 

 

 

 

EUR: The euro held steady against the dollar on Thursday despite preliminary data showing that Germany fell into deflation for the first time since July 2009 this month.EUR/USD was last at 1.1319, up slightly from around 1.1296 ahead of the data. Consumer prices in the euro area’s largest economy were down 1% from a month earlier, compared to expectations for a 0.8% drop after a flat reading last month. Demand for the dollar continued to be underpinned after the Federal Reserve indicated that interest rates could start to rise around mid-year.

 

 

 

GBP: The pound held steady against the U.S. dollar on Thursday, trading close to recent multi-month lows after data showed that U.K. house prices rose as expected this month and after the Federal Reserve indicated that interest rates could start to rise around mid-year.GBP/USD hit 1.5015 during European morning trade, the pair's lowest since Tuesday; the pair subsequently consolidated at 1.5065.

 

 

 

 GOLD: Gold prices closed sharply lower and hit a two-week low on Thursday, in the aftermath of an FOMC statement that is being read as more hawkish than dovish. A higher U.S. dollar index on this day also helped to pressure the precious metals. Thursday saw the biggest one-day drop in gold and silver prices in months. Spot gold was last down $27.20 at $1,268.75.

 

Outlook For The Day (30th    January 2015)

Expect USD/INR is expected to trade in a range between 61.65 to 61.90 with higher bias. US dollar is expected to weaken against the Majors.

 

MAJOR WORLD CURRENCIES:

as on 29th January, 2015

 

CURRENCY

OPEN

HIGH

LOW

CLOSE

EUR/USD

1.1286

1.1368

1.1260

1.1319

GBP/USD

1.5133

1.5162

1.5015

1.5065

AUD/USD

0.7888

0.7905

0.7717

0.7758

JPY/USD

117.53

118.48

117.36

118.26

 

 

 

 

 

 

 

Foreign Currencies  

(Updated: 17:30 hrs on 29th January, 2015)

 

USD/INR 61.8650

Against

        USD

           INR

1 EUR    =

1.1306

69.94

1 GBP    =

1.5142

93.67

100 JPY =

117.98

52.43                          

1 AUD    =

0.7788

48.18                          

1 CHF    =

0.9167

67.48

 

 

Precious Metals 

(Updated: 17:30hrs on  29th January, 2015)
 

Gold ($/oz)

1268.61

Silver ($/oz)

    17.96

 

Stock Indices

(As on  29th January, 2015)

 

Index Close

28th  January

29th January

BSE Sensex

29559.18

29681.77

NSE Nifty

8914.30

8952.35

Dow Jones

17387.21

17191.37

NASDAQ

4681.50

4637.99

 

 

    Major Economic Data Releases for the Day

Date

Region

Time(IST)

Description

30.01.2015

EUR

12.30

German Retail sales

30.01.2015

EUR

3.30

CPI Flash estimate

30.01.2015

   USD

7.00

Advance GDP

 

 

The views contained herein are those of individuals and not necessarily those of the Bank.  This is for information purpose only and no recommendations are intended.  While due care has been taken in preparationof this communication, IOB cannot be held responsible for any consequences of any decisions based on this information. Comments/Suggestions may be freely emailed to feddeal@iobnet.co.in