Daily Forex Report By www.epicresearch.co - 17 December 2012

HEADLINES: Rupee reverses losses after inflation rate eases The rupee recovered from early losses to trade higher on Friday after headline inflation surprised on the

Indore, India (prHWY.com) December 17, 2012 - Daily Forex Report by www.epicresearch.co - 17 December 2012

HEADLINES:
Rupee reverses losses after inflation rate eases
The rupee recovered from early losses to trade higher
on Friday after headline inflation surprised on the
downside, raising hopes the RBI could start cutting
interest rates as early as January. India's wholesale
price index rose a slower-than-expected 7.24 percent in
November, less than the 7.6 percent estimated by a
Reuters poll. While most economists and market
participants believe the central bank may hold rates
steady on Dec. 18., some are now expecting that it will
infuse some liquidity in the form of a cash reserve ratio
cut. "The trending and expectation in headline inflation
has improved, paving way for start of rate cut cycle in
January-March 2013," said Moses Harding, head of
asset liability management at IndusInd Bank. "A CRR
cut of 25 basis points is seen certain to maintain the
positive feel," he said. The government is trying to push
through more reforms, approving steps on Thursday to
speed
up
infrastructure
projects
facilitate
investment into the fertilizer sector.

TRADING TIPS
BUY EUR/INR
ABOVE 71.46
FOR TGT
71.66/71.86
SL 71.26
PAST PERFORMANCE
BUY EUR/INR
ABOVE 71.27
FOR TGT
71.47/71.67
SL 71.07
TARGET ACHIEVED
DAILY USD/INR ANALYSIS:
OPEN: 54.6375
HIGH: 54.7250
LOW: 54.3725
CLOSE: 54.6125
ï‚· USD/INR LOOKS SIDEWAYS
ï‚· TREND: CONSOLIDATED
ï‚· STRATEGY: BUY ON DIPS
DAILY EUR/INR ANALYSIS:
OPEN: 71.3525
HIGH: 71.5825
LOW: 71.1425
CLOSE: 71.4675
ï‚· EUR/INR LOOKS SIDEWAYS
ï‚· TREND: CONSOLIDATED
ï‚· STRATEGY: BUY ON DIPS

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