RESEARCH VIA FOREX REPORT 13 JUNE 2014

  
                                                           MARKET HEADLINES

Rupee down 9 paise against dollar in early trade
The rupee today depreciated by 9 paise to 59.36 against the dollar in early trade on the Interbank Foreign Exchange market. Dealers said the US dollar strengthened against the rupee in line with its gains against other Asian currencies. However, early gains in stock markets capped rupee's losses against the American currency, they added. The rupee had snapped its two days of losses and edged up by two paise to close at 59.27 against the dollar following late selling of the US currency by exporters yesterday. Meanwhile, the benchmark BSE index Sensex was up by 55.77 points, or 0.22 per cent, at
25,529.66 in early trade.

UK to toughen rules for massive forex market
UK Treasury chief George Osborne is set to propose new criminal sanctions covering foreign exchange markets that a number of banks are alleged to have manipulated. Osborne is set to use his annual speech on the state of the British economy Thursday to promise new regulation to protect the integrity
of London as a financial center. In excerpts released ahead of the speech, he pledged to deal with abuses, "tackle the unacceptable behavior of the few and ensure that markets are fair for the many who depend on them." The decision comes amid a global scandal over the alleged manipulation of foreign
exchange markets. Regulators in Europe and the US are investigating a number of banks, and Citigroup and Barclays are among the institutions who have suspended traders.

Rupee wedged in tight band; retail inflation in focus 
The rupee held in a tight range on Wednesday as lack of fresh domestic triggers prompted investors to stay on the sidelines while mixed Asian currencies and shares also failed to provide any clear direction. Traders will now focus on retail inflation data, due to be released after market hours on Thursday, for direction. However, a large impact is unlikely on Friday unless the data is significantly off market expectations. A Reuters survey of economists found consumer price inflation probably eased to 8.4 per cent in May, from April's three-month high of 8.59 per cent as food prices fell slightly. Industrial output data due around the same time is expected to show output expanded 1.9 per cent annually in April after falling 0.5 per cent in March. The partially convertible rupee closed at 59.27/28 per dollar, little
changed from 59.29/30 on Tuesday. The unit moved in a tight range of 59.22 to 59.36 during the session.

Research Via is a leading financial advisory provides free tips on Indian share market like equity tips, stock tips, stock options tips, bullions tips, agro tips, commodity tips, nifty tips, base metals & energy tips, comex tips, international forex tips, domestic forex tips, agri tips, commodity (mcx& ncdex) tips.