DATE: Friday, 28th April, 2017
USD/INR: as on 27th April, 2017
Snapping its three-day rise, the rupee on Thursday eased from a 21-month high to end 4 paise lower at 64.1550 against the US dollar on fresh demand for the American currency from importers. It breached the psychologically crucial 64-mark to touch a fresh intra-day high of 63.97 in early trade. The rupee had soared 15 paise on Wednesday to close near a fresh 21-month high of 64.12 against the US dollar. Modest month-end dollar demand from importers along with RBI's tight interventions to check the rupee's volatility largely weighed on the currency market. At the Interbank Foreign Exchange market, rupee opened firmly higher at 64.05 and strengthened further to hit a high of 63.97 on steady dollar unwinding. However, after scaling fresh multi-month highs, it suddenly turned volatile and relinquished all initial gains to trade range bound. It touched a low of 64.17 towards the fag-end trade before ending at 64.1550, showing a loss of 4 paise.
USD/INR as on 27th April, 2017
Highest till date: 68.8650 on 24th November, 2016
Forward premium(%) as on 27th April, 2017
USD/INR Cash/Tom/Spot Levels: (in Paisa)
(Updated as on 28th April, 2017 @10.00am)
Cash/Spot: 3.00/6.00 Cash/Tom: 2.50/4.50
Tom/Spot: 0.50/1.50 Spot/Next: 0.50/1.50
Cash Date: 28th April, 2017
Tom Date : 02nd May, 2017
Spot Date : 03rd May, 2017
MAJOR WORLD CURRENCIES: as on 27th April, 2017:
USD: The dollar continued its march higher for a second straight day, despite weaker than expected economic data as both Initial Jobless Claims and Durable Goods Orders were weaker than expected while pending Home Sales fell. The National Association of Realtors said on Thursday, its Pending Home Sales Index, declined 0.8 percent to 111.4. Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 257,000 for the week ended April 22, the Labor Department said on Thursday. Meanwhile, new orders for U.S. durable goods rose 0.7 percent in March, which was far less than the 2.3 percent rise in February and well below expectations for a 1.2 percent increase. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, up by 0.03% to 98.95.
EUR: The euro lost ground against the dollar on Thursday, after European Central Bank President Mario Draghi said the eurozone’s economic recovery is “increasingly solid” but tempered sentiment by insisting that inflationary pressure “remain subdued”. Draghi’s comments came fresh on the heels of an interest rate decision from the European Central Bank. The ECB left its benchmark interest unchanged at a record low 0.00%, in line with expectations. EUR/USD traded in a range between 1.0850 and 1.0932, before finally closing at 1.0872.
GBP: Sterling continued its uptrend on Thursday and gained further against the dollar ahead of prelim GDP figures due to be release on Friday. GBP/USD closed the day at 1.2902, up 0.41%, just shy of session highs but close to six-month highs. The pair traded in a range between 1.2834 and 1.2914, before finally closing at 1.2902.
GOLD: Gold was little changed on Friday but poised for the biggest weekly fall in seven weeks as investors sought out riskier assets, dampening demand for gold, which pays no interest. The generally upbeat trader and investor attitudes this week have been a significantly bearish element for the safe-haven metal.
Outlook for the day (28th April, 2017)
USD/INR is expected to trade in a range between 64.00 and 64.35 with higher bias. Major currencies are expected to weigh higher against the Greenback.
MAJOR WORLD CURRENCIES:
as on 27th April, 2017
Updated: 17:30 hrs (1200 GMT) on 27th April, 2017
USD/INR: 64.1550 [FXIR]
1 EUR =
1 GBP =
100 JPY =
1 AUD =
1 CHF =
(As on 27th April, 2017)
Major Economic Data Releases for the Day
German retail sales m/m
Spanish flash GDP q/q
M3 money supply y/y
Prelim GDP q/q
CPI flash estimate y/y
Core CPI flash estimate y/y
Advance GDP q/q
Advance GDP price index q/q
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