SMC Global Currency Daily Report

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Information about SMC Global Currency Daily Report

Published on March 7, 2014

Author: moneywisebewise



This report updates the major global events that can affect currency markets in a day trading. It also contains major news related to global currency market and economies.
On technical part it contains major support and resistance levels along with expected trading direction for intraday purpose. Moreover, international currency pairs are also included in the report to take an idea and to gauge the direction of the market and its impact on local currency pairs.

411983 lladollatop 07/03/2014 CURRENCY OUTLOOK FOR THE DAY Currency Dollar Index EUR/USD USD/JPY GBP/USD USD/INR (Mar) EUR/INR (Mar) JPY/INR (Mar) GBP/INR (Mar) Rate* Trend Support 79.66 DOWN 1.3857 UP 1.3813/1.3783 102.90 SIDEWAYS 102.56/102.32 1.6740 UP 1.6713/1.6680 1.6794/1.6826 61.17 DOWN 61.00/60.75 61.40/62.65 84.78 SIDEWAYS 84.65/84.40 85.10/85.30 59.47 DOWN 59.30/59.10 59.85/60.20 102.39 DOWN 102.20/102.00 102.80/103.20 79.47/79.24 Resistance 80.06/80.28 1.3887/1.3917 103.22/103.47 BOND FUTURES (INTEREST RATE FUTURES) OUTLOOK FOR THE DAY 883GS2023 Futures 100.14 SIDEWAYS TO UP 100.00/100.05 100.40/100.45 Note: The above levels are only for intraday trading. Today’s Major Economic Releases Time (IST) 16:30 Currency EUR Event EUR German Industrial Production n.s.a. and w.d.a. (YoY) Forecast Previous Adverse/Favourable/Neutral 3.90% 2.60% Favourable

Major Market Update Improved macros like lesser current account deficit and balance of payment surplus are driving bond yields down. Liquidity tightness may limit bond prices Fewer Americans than projected applied last week for unemployment benefits, showing companies are confident economic growth will rebound after winter weather depressed demand. Stepping up verbal intervention may be the Reserve Bank of Australia’s only option to curb the Aussie as strengthening economic data and a neutral policy stance drive the currency toward a three-month high. Bank of England policy makers extended unprecedented stimulus into a sixth year today as they seek to ensure the economy fully recovers from the damage wrought by the financial crisis. The European Central Bank kept interest rates unchanged as stronger inflation and economic output reduced the need for officials to take action. The dollar was set for its biggest weekly gain in three months versus the yen before the release of U.S. payrolls data, with Federal Reserve officials reiterating the threshold for changing its stimulus tapering is high. Canada’s currency strengthened beyond C$1.10 per U.S. dollar for the first time in more than two weeks as building permits climbed more than forecast, adding to signs the global economy is picking up. *For commodities and Currency queries during market hrs (9:00 AM- 11:30 PM) Contact: 011-25754373.; Ext: 436; 437. Direct Line- 9650507651 Disclaimer: This report is for personal information of the authorized recipient and doesn’t construe to be any investment, legal or taxation advice to you. It is only for private circulation and use. The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such. No action is solicited on the basis of the contents of the report. The report should not be reproduced or redistributed to any other person(s) in any form without prior written permission of SMC. The contents of this material are general and are neither comprehensive nor inclusive. Neither SMC nor any of its affiliates, associates, representatives, directors or employees assume any responsibility for any loss or damage that may arise to any person due to any trading/action taken on the basis of this report. It does not constitute personal recommendations or take into account the particular investment objectives, financial situations or needs of an individual client or a corporate/s or any entity/s. All investments involve risk and past performance doesn’t guarantee future results. The value of, and income from investments may vary because of the changes in the macro and micro factors given at a certain period of time. The person should use his/her own investigations and judgment while taking any positions or investment decisions. Please note that we and our affiliates, officers, directors, and employees, including persons involved in the preparation or issuance if this material;(a) from time to time, may have long or short positions in, and buy or sell the currencies thereof, mentioned here in or (b) be engaged in any other transaction involving such currencies and earn brokerage or other compensation (c) may have any other potential conflict of interest with respect to any recommendation and related information and opinions. All disputes shall be subject to the exclusive jurisdiction of courts at Delhi.

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