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2. HEADLINES
Rupee gains by 11 paise against dollar in early
trade
The rupee today strengthened by 11 paise to 54.73 against
the US dollar in early trade at the Interbank Foreign
Exchange, aided by selling of the American currency by
exporters and banks and strong capital inflows. Besides, a
higher opening in the domestic equity market and
continued capital inflows, strengthening of the euro
against the dollar overseas, also supported the rupee,
forex dealers said. The rupee had gained 11 paise to end at
one-week high of 54.84 against the US dollar in
yesterday's trade on sustained selling of the US dollar by
exporters and capital inflows.
TRADING TIPS Rupee down; stocks give up gains
SELL USD/INR Rupee is trading down versus $ in thin trade as local
stocks gave up gains, some buying on rupee futures
BELOW 54.83
settlement, says dealer. Currently the pair is at 54.88/89,
FOR TGT off 54.72 highs, versus 54.8350/8450 close on
54.68/54.53 Wednesday. Local stocks gave up early gains and are now
SL 54.98 trading flat. Pair has short term resistance at 55.05-55.10,
PAST with 55.25 to provide extremely good resistance on further
PERFORMANCE rallies.
SELL USD/INR REFERENCE RATE
BELOW 54.89
As on 27TH December 2012
FOR TGT 54.76
SL 55.04 UNDERLYING RATE
TARGET ACHIEVED USDINR 54.8465
EURINR 72.6330
GBPINR 88.5497
JPYINR 63.9800
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6. FOREX FORTHCOMING DATA
TIME CURRENCY DATA ACTUAL FORECAST PREVIOUS
1:15pm EUR French Consumer 0.0% -0.2%
Spending m/m
Tentative EUR Italian 10-y Bond Auction 4.45|1.2
8:15pm USD Chicago PMI 51.2 50.4
8:30pm USD Pending Home Sales m/m -0.3% 5.2%
9:30pm USD Crude Oil Inventories -1.6M -1.0M
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