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2. HEADLINES
US Dollar/Indian Rupee lower as custodial
banks sell; FOMC next
USD/INR trading near day's lows as custodial banks sell
on likely share sale related inflows, dealers say. The pair
at 54.19/20, off 54.30 high hit earlier in session,
54.26/27 last close. A state-run bank dealer says oilers
were present earlier in the session, but few now. INR
saw some bounce after higher-than-expected factory
data. The pair has been testing crucial support at 55.20
levels, if breached convincingly may see down move to
54.05.
Rupee gains after strong industrial output
TRADING TIPS data
USD/INR falls to 54.18/19 after data shows industrial
BUY EUR/INR
output jumped 8.2 per cent in October, well above
ABOVE 70.97 Reuters forecast for a 4.5 per cent rise. The pair was
FOR TGT trading at around 54.24/25 before the data. Other
71.12/71.27 markets show more muted reaction, given output data
SL 70.77 is known for its volatility. Investors also waiting to see
PAST the monthly inflation data due on Friday
PERFORMANCE RBI REFERENCE RATE
BUY USD/INR
As on 12TH December 2012
ABOVE 54.50
FOR TGT UNDERLYING RATE
54.65/54.80 USDINR 54.2725
SL 54.30 EURINR 70.5470
SL TRIGGERED GBPINR 87.4276
JPYINR 65.6600
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6. FOREX FORTHCOMING DATA
TIME CURRENCY DATA ACTUAL FORECAST PREVIOUS
12:30am USD FOMC Economic
Projections
12:45am USD FOMC Press Conference
7:00pm USD PPI m/m -0.4% -0.2%
7:00pm USD Retail Sales m/m 0.4% -0.3%
7:00pm USD Unemployment Claims 370K 370K
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