DGCX INR
www.dgcx.ae
DGCX INR
OPEN
HIGH
LOW
PD CLOSE
Wednesday, March 13, 2013
183.95
183.88
184.34
184.05
54.3626
54.3833
54.2476
54.3331
MARKET PULSE
EURO ZONE : ECB will maintain its accommodative stance "as long as necessary," according to Jens Weidmann, an ECB council member and head of Germany's Bundesbank.
UK:industrial output fell in January, which boosted opinion that BoE may add to stimulus.
U.K : inflation expectations climbed to a 4 1/2-year .
UK: GBP dropped to the lowest level against the USD since June 2010.
Japan : two opposition parties said today they will endorse Kikuo Iwatafor Bank of Japan deputy governor.
US: FORECAST: U.S. retail sales advanced in February for a fourth month.
GOLD : ETPs at 2,472.891 MT yesterday, the lowest since September.
Commodities
Gold Trades Near Two-Week High on Stimulus, Rising Asian Demand.
WTI Oil Trades Near Two-Week High as U.S. Crude Supplies Decline.
Gold Caps Longest Rally in Six Months.
MARKETS
DJIA
14450.06
2.7
EUR
1.3039
0.0
DINR1M
184.05
0
NSE1M
54.3675
-0.0475
NASDAQ
3242.321
-10.5
GBP
1.4938
0.0
DINR2M
182.85
0.04
NSE2M
54.74
-0.0525
FTSE
6510.62
7.0
JPY
95.66
-0.4
INR-Spot
54.1563
-0.0362
MCX1M
54.3675
-0.0525
NIKKEI
12280.48
-34.3
GOLD
1592.45
-0.4
NDF1M
54.57
-0.02
MCX2M
54.7325
-0.05
HANG-S
22703.31
-187.3
SILVER
29.1675
0.0
NDF2M
54.87
-0.01
WTI
92.71
0.17
NIFTY
5874.35
-39.8
3MCU
7830.25
0.3
SENSEX
19477.25
-87.67
BRENT
109.42
-0.23
INDIAN INR
MARKETS
INR rose 0.2% to 54.1025 , 1-month volatility slid 15 bps to 8.8850%. 12-month NDFs declined 0.1% to 57.60 . 1 Year IRS at 7.5925%, 5-year IRS at 7.2350%. 10 Year Benchmark at 7.891%.
FACTORS
Technical: INR breached pivot resistance at 54.1084; next resistance at 54.0242, 53.7892; pivot point at 54.2592; support at 54.3434, 54.4942, 54.7292.
Consensus forecast : Cumulative 50 bps of RBI policy rate cuts by year end.
RBI likely to ease further, though timing is more uncertain, market moves to neutral on INR from being positive prior to budget.
Global funds bought $ 76.2 m of local bonds more than they sold on March 11.
Government to sell 70 b INR of 91-day bills and 50 b INR of 182-day bills today.
GOLD
MARKETS
Spot gold at $1,593.20 in Asia rising from $1,592.80 yesterday, when it climbed to $1,598.80, the highest intra-day price since Feb. 28. Gold April was little changed at $1,592.70. Gold has had four days of gains, the best run since August. Cash silver rose 0.1 % to $29.1775.
FACTORS
Gold at a two week high on prospects for additional stimulus from central banks.
ECB will maintain its accommodative stance "as long as necessary," according to Jens Weidmann, an ECB council member and head of Germany's Bundesbank.
UK: industrial output fell in January which boosted opinion that BoE may add to stimulus.
Japan : two opposition parties said today they will endorse Kikuo Iwatafor as Bank of Japan deputy governor.
FORECAST: U.S. retail sales advanced in February for a fourth month.
Gold ETPs at 2,472.891MT yesterday, the lowest since September.
FOREIGN EXCHANGE
MARKETS
USD traded at 95.95 yen, having scaled a 3-1/2 peak of 96.71. The euro eased to 125.11 yen, but remained within easy reach of a one-month high of 126.03 set on Tuesday.
FACTORS
Bullish bets on the yen in the options market climbed to an eight-month high.
The Bank of England said it has the edge to be the first of G7 to sign a currency-swap agreement with the People's Bank of China after a meeting last month.
U.K. inflation expectations climbed to a 4 1/2-year .
GBP dropped to the lowest level against the USD since June 2010 .
Yuan forwards advanced for a seventh day, the longest winning streak since September 2010, on optimism China will embark on further currency reforms.
COPPER
Copper drifted on Wednesday from almost two-week highs hit in the previous session as a short-covering burst began to fade, while Chinese consumers stayed on the sidelines amid the country's ongoing policy-setting parliamentary meeting. Three-month copper slipped by 0.24 % to $7,811.50, reversing an advance from the previous session when it rose by 1 %.
OIL
Brent crude edged lower on Tuesday, seesawing with the euro and the USD, while U.S. crude rose after holding above a key technical level the previous two sessions. Brent April crude fell 20 cents to $110.02, having traded from $109.55 to $111.20. The Brent April contract expires on Thursday. U.S. April crude was up 90 cents at $90.96 a barrel,having reached $93.47.