2. HEADLINES
Rupee at 1-week low on euro weakness
The rupee falls to 53.815-53.825 after earlier hitting as
a session low of 53.88, the lowest since October 22.
The pair closed at 53.56-53.57 on Thursday. Weaker
euro spurring gains in the US dollar as traders await
Spain's request for a bailout and keep a wary eye on
Greece after the country's opposition leader said his
party would vote against an austerity package
expected to go before parliament this week. Foreign
bank dealer says USD/INR may remain well bid on
TRADING TIPS
the back of month-end dollar demand. Pair will take
BUY EUR/INR further cues from RBI's rate decision on Tuesday, with
ABOVE 69.53 any rate cut likely to feed rupee gains by improving
confidence in the economic outlook and potentially
FOR TGT
sparking foreign flows into stocks. However, The two
69.73/69.93
unnamed finance ministry officials the central bank
SL 69.33
was unlikely to cut key policy rates.
PAST RBI REFERENCE RATE
PERFORMANCE As on 29TH October 2012
SELL EUR/INR
BELOW 69.76 UNDERLYING RATE
FOR TGT USDINR 53.8065
69.56 SL 69.96
Target Achieved EURINR 69.4965
GBPINR 86.5209
JPYINR 67.5100
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6. FOREX FORTHCOMING DATA
TIME CURRENCY DATA ACTUAL FORECAST PREVIOUS
1:30pm EUR ECB President Draghi 5.24|1.3
Speaks
Tentative EUR Italian 10-y Bond Auction 0.5%
6:30pm USD S&P/CS Composite-20 1.9% 1.2%
HPI y/y
7:30pm USD CB Consumer Confidence 72.4 70.3
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