DATE: Friday, 02nd December, 2016
USD/INR: as on 01st December, 2016
Extending gains for the third straight day, the rupee on Thursday ended at one-week high of 68.34 against the resurgent dollar following robust macro-economic data even as crude prices jumped after the historic OPEC deal. Stretching its strong recovery momentum for the third straight day, the home currency managed to sidestep the early volatility to end higher by 4 paise. At the Interbank Foreign Exchange (forex) market, the local unit resumed substantially lower at 68.48 and weakened further to hit an intra-day low of 68.51 on fresh demand for the American currency from banks and importers. However, it staged a strong come back in mid afternoon deals to touch a high of 68.31 before ending at 68.3450, showing a modest gain of 4 paise.
USD/INR as on 01st December, 2016
Highest till date: 68.8650 on 24th November, 2016
Forward premium(%) as on 01st December, 2016
USD/INR Cash/Tom/Spot Levels: (in Paisa)
(Updated as on 02nd December, 2016 @10.00am)
Cash/Spot: 3.00/4.50 Cash/Tom: 2.00/3.00
Tom/Spot: 0.50/1.50 Spot/Next: 0.50/1.50
Cash Date: 02nd December, 2016
Tom Date: 05th December, 2016
Spot Date: 06th December, 2016
MAJOR WORLD CURRENCIES: as on 01st December, 2016
USD: The dollar fell on Thursday against a basket of currencies as traders booked gains following a solid November on bets of a stronger U.S. economy under a Trump administration and on caution ahead of Friday's government payrolls report. The dollar index, which measures the greenback versus a basket of six currencies, fell 0.4 percent to 101.06. It reached a 13-1/2-year peak of 102.05 last week, and for the month of November it gained 3.1 percent.
EUR: The euro strengthened on Thursday after Reuters reported the European Central Bank will extend its bond purchases beyond next March and consider sending a formal signal next week that the asset purchase program will eventually end. The euro was boosted further after French President Francois Hollande said he will not seek a second term, a move seen paving an easier path for conservative Francois Fillon to defeat Marine Le Pen, head of the National Front party, in 2017. EURUSD was up by 0.75 percent to close at 1.0660.
GBP: Sterling rose sharply on Thursday against the greenback on a perceived crack in Britain's "hard Brexit" line on leaving the European Union after Brexit minister David Davis said Britain would consider paying into the EU budget for market access. The pound rose to a three-week high against the dollar to touch 1.2695, before closing at 1.2591, showing a gain of 0.87 percent.
GOLD: Gold prices ended modestly lower on Thursday and sunk to fresh 10-month low. The technical postures for gold market remain solidly bearish. Fundamentally, traders and investor optimism remain generally upbeat and that’s also negative for safe-haven gold.
Outlook for the day (02nd December, 2016)
USD/INR is expected to trade in a range between 68.25 and 68.50 with higher bias. Major currencies are expected to be range bound against the Greenback.
MAJOR WORLD CURRENCIES:
as on 01st December, 2016
(Updated: 17:30 hrs. on 01st December, 2016)
1 EUR =
1 GBP =
100 JPY =
1 AUD =
1 CHF =
(Updated: 17:30 hrs on 01st December, 2016)
(As on 01st December, 2016)
Major Economic Data Releases for the Day
Spanish unemployment change
Average hourly earnings m/m
Non-farm employment change
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