Forex Update

S&P500 Looking For New High Towards 1990-2000

{{166|S&P 500}} made a third leg down on Thursday that now already appears complete after a strong bounce through 1967 swing. A decline from the high now looks like a completed zigzag that can lift the prices back to all time highs. As such, we are bullish again on the S&P, and will be looking for a new high and towards 1990/2000 as long as 1944 support holds.

Forex Analysis by Gregor Horvat at ForexPros. com


USD/INR Update by KediaCommodity

USD/INR Update by KediaCommodityRupee gained on Friday on dollar sales by a large corporate, but that was not enough to prevent its first weekly fall in three as markets reeled on disappointment over the lack of specifics in the federal budget. Concerns about the banking sector in Portugal also contributed to the declines, with the BSE share index posting its biggest weekly loss since December 2011. Investors will also look out for the data this week from India, US, Europe & China for direction.


Forex reserves up $614.6 mn at $316.4 bn

Forex-reservesMumbai: The forex reserves rose USD 614.6 million to touch USD 316.393 billion in the week to July 4, on account of rise in currency assets.

In the previous week, reserves had risen by USD 856.6 million to USD 315.778 billion.

With this, the reserves are close to the record high reported in late 2011 at USD 321 billion.

Foreign currency assets (FCAs), a major constituent of the overall reserves, rose USD 760.6 million to USD 289.573 billion in the reporting week, the Reserve Bank said in its weekly statement here Friday.


Rupee edges lower after surging to three-week highs

RupeeMumbai: The rupee Thursday surged to three-week highs in early trade but closed four paise lower at 59.73 against the dollar on weakness in local stocks and persistent demand for the American currency from importers, including oil firms.

A firm dollar overseas ahead of crucial US payrolls data and a meeting of the European Central Bank also weighed on the rupee, say forex dealers.


Rupee gains most in over 10 days, ends at 60.07 Vs US dollar

Rupee gains most in over 10 days, ends at 60.07 Vs US dollarMumbai: In line with rise in stocks, the rupee Tuesday rose by 10 paise -- its biggest single-day rise in over ten days -- to end at 60.07 against the dollar after the government hiked fuel and LPG prices to ease subsidy burden.

Fresh dollar selling by exporters too aided the rupee rise but gains were capped as the dollar index was marginally up against its global peers, a forex dealer said.


Gold: A Move Into 1320-1350 Region Before Turning Bearish

On {{8830|Gold}} we are tracking a big triangle placed in wave 4) for a while now which is still incomplete. Recently we have seen a completed wave D at 1240 so now we will focus on another three wave move, this time up in wave E that can retrace even more up to 1320/1350 zone where we will be looking for a bearish reversal signs.

Gold: A Move Into 1320-1350 Region Before Turning Bearish

Forex Analysis by Gregor Horvat at ForexPros. com


Gold: Recovery Ahead?

Gold-Recpvery-Ahead{{8830Gold}} rallied back to 1260 in the last 24 hours which now looks like a start of a new bigger recovery. In fact, decline from 1303 can be counted in five waves for completed wave (c) of D which means that it may be a time for a new three-leg rally back in wave E. If we are on the right track then price is now in wave (a).


India's forex reserves fall $273.8 mn to $312 bn

India-forex-reservesMumbai: India's forex reserves fell by USD 273.8 million to USD 312.382 billion in the week to May 30, mainly on account of a drop in currency assets.

After weeks of gains, the reserves nosedived by a whopping USD 2.268 billion to USD 312.656 billion in the previous week.

Foreign currency assets (FCAs), a major constituent of the overall reserves, dipped by USD 269.3 million to USD 285.291 billion in the period under review, Reserve Bank said in a statement.


Rupee ends flat at 59.33 Vs USD ahead of ECB policy decision

Rupee-vs-DollarMumbai: In lacklustre trade, the rupee closed flat at 59.33 against the US dollar on alternate bouts of buying and selling as investors await a European Central Bank policy decision later on Thursday .

The rupee commenced better at 59.27 a dollar from last close of 59.33 at the Interbank Foreign Exchange (Forex) market. It was later trapped in a narrow range of 59.24 and 59.36, before settling at overnight closing level of 59.33.

The dollar index was down 0.10 percent against a basket of six major global currencies.


India's forex reserves down by $2.26 bn

India-forexMumbai, May 31 : India's foreign exchange (forex) reserves declined by $2.26 billion to $312.65 billion for the week ended May 23, led by a sharp fall in overseas currency assets, Reserve Bank of India (RBI) data showed.

The reserves have fallen for the first time in the last five weeks.

The reserves had risen by $1.09 billion to $314.92 billion for the week ended May 16. For the week ended May 9, the Forex had gained by $1.97 billion to $313.83 billion.


India's forex reserves gain $1.09 bn

India-forexMumbai, May 24 : India's foreign exchange (forex) reserves rose by $1.09 billion to $314.92 billion for the week ended May 16, led by a sharp jump in overseas currency assets, Reserve Bank of India (RBI) data showed.

The reserves had gained by $1.97 billion to $313.83 billion for the week ended May 9.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $1.26 billion to $287.81 billion in the week under review.

The foreign currency assets had jumped by $1.97 billion to $286.54 billion.


India's forex reserves up $1.94 bn

India-forexMumbai, May 10 : India's foreign exchange (forex) reserves rose by $1.94 billion to $311.85 billion for the week ended May 2, led by a sharp jump in overseas currency assets, Reserve Bank of India (RBI) data showed.

The reserves had gained $499.8 million to reach $309.91 billion for the week ended April 25.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $2.54 billion to $284.57 billion in the week under review.

The foreign currency assets had risen by $493.2 million to $282.03 billion in the previous week.


India's forex reserves rise by $500 mn

India's forex reserves rise by $500 mnMumbai, May 3 : India's foreign exchange (forex) reserves rose by $499.8 million to $309.91 billion for the week ended April 25, led by a sharp jump in overseas currency assets, Reserve Bank of India (RBI) data showed.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $493.2 million to $282.03 billion.

Foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.


India's forex reserves down by $31 million

India-forexMumbai, April 26 : India's foreign exchange (forex) reserves fell by $31.6 million to $309.41 billion for the week ended April 18, Reserve Bank of India (RBI) data showed.

There was a sharp decline in foreign currency assets component of forex in the week under review.

For the week ended April 11, the forex reserves had risen by $2.79 billion to $309.44 billion.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, fell by 16.2 million to $281.53 billion.


India's forex reserves rise to $306.64 bn

India-forex-reservesMumbai, April 12 : India's foreign exchange (forex) reserves increased by $2.97 billion to $306.64 billion for the week ended April 4, Reserve Bank of India (RBI) data showed.

The forex reserves have soared past $300 billion mark for the first time since December 2011.

This is the sixth consecutive week of increase in the country's forex reserves as overseas investors poured in money in local bonds and stock markets. The forex reserves had risen by $5.03 billion and $1.34 billion in the previous two weeks.


India's forex reserves soar to $303.67 bn

India's forex reserves soar to $303.67 bnMumbai, April 5 : India's foreign exchange (forex) reserves soared by $5.03 billion to $303.67 billion for the week ended March 28, Reserve Bank of India (RBI) data showed.

The forex reserves have soared past $300 billion mark for the first time since December 2011.

This is the fifth consecutive week of increase in the country's forex reserves as overseas investors poured in money in local bonds and stock markets.  The forex reserves had risen by $1.34 billion and $1.83 billion in the previous two weeks.


India's forex reserves rise to $298.63 bn

India's forex reserves rise to $298.63 bnMumbai, March 29 : India's foreign exchange (forex) reserves rose by $1.34 billion to $298.63 billion for the week ended March 21, Reserve Bank of India (RBI) data showed.

This is the fourth consecutive week of increase in the country's forex reserves as overseas investors poured in money in local bonds and stock markets.

The forex reserves had jumped by $1.83 billion for the week ended March 14.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, rose by $1.58 billion to $271.39 billion.


India's forex reserves jump by $1.83 billion

India's forex reserves jump by $1.83 billionMumbai, March 22 : India's foreign exchange (forex) reserves rose by $1.83 billion to $297.28 billion for the week ended March 14, Reserve Bank of India (RBI) data showed.

This is the third consecutive week of increase in the country's forex reserves as overseas investors poured in money in local bonds and stock markets.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $1.84 billion to $269.81 billion.


India's forex reserves up $1.45 bn

India's forex reserves up $1.45 bnMumbai, Feb 22 - India's foreign exchange (forex) reserves increased by $1.45 billion to $293.78 billion for the week ended Feb 14, Reserve Bank of India (RBI) data showed.

The foreign exchange reserves had increased by $1.26 billion to $292.33 billion for the week ended Feb 7.

According to the RBI's weekly statistical supplement foreign currency assets, the biggest component of the forex reserves, grew by $1.41 billion to $267.24 billion.

The foreign currency assets had grown $1.26 billion to $265.83 billion for the previous week.


AUD/USD: More Bearish Below 0.8925

AUD/USD: More Bearish Below 0.8925AUD/USD is once again trying to turn bearish from around 0.9080 area, where we think that wave (v) will complete wave C, final leg of running flat formation from mid-December.

Pair fell more than 100 pips from the highs, but we still need a decline beneath 0.8925 wave (iv) swing to confirm a bearish reversal.  In that case we would then be looking for a larger resumption of a downtrend back to January lows.

Forex Analysis by Gregor Horvat at ForexPros. com


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