Monday, November 5, 2012

FOREX REPORT - 5-11-2012

• USDINR pair recuperated some of its losses in the last session and managed to close in green.
• Domestic equity markets opened higher and closed around a percent higher. Sensex closed at 18738.11, higher by around 176 points

• Several of the European manufacturing PMI readings came in worse than expected. The most closely observed was the
UK PMI data which revealed that the British manufacturing sector shrunk further to 47.5, which is almost the worst result
in a year
• German Chancellor Angela Merkel praised Ireland's progress in implementing reforms which proves that it is possible to
effectively fight the crisis. She added that the priorities for the Irish EU presidency, which begins next year on January 1,
would be stimulating growth and employment
• ADP national employment report showed U.S. employment increased by 158,000 private sector jobs in October
• U.S. Q3 Non-Farm Productivity came at 1.9 pct against the consensus of 1.6 pct
• US jobless claims fell to 363,000 for the week ending Oct 27 against the consensus of 370,000
• US October consumer confidence index came at 72.2 as against expectation of 72.5. September’s revised figure was 68.4
• US September construction spending remained at 0.6 pct and was in line with market expectations
• Euro lost against dollar in previous trading session as sentiments dampened after news of delay in Greek’s next bailout
tranche
• Nikkei closed at 9051.22, higher by almost 105 points
• Overall, Indian rupee is likely to take cues from the direction of dollar against major currencies in overseas market


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