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2. HEADLINES
Rupee snaps three-day gains as euro falters
The rupee snapped a three-day winning streak after
hitting a one-week high early in the session on Friday
as sharp losses in the euro prompted banks to cover
their short dollar positions heading into the weekend.
The euro fell to a three-week low against the greenback,
pushing the dollar index to a seven-week high, with
traders citing option-related selling of the euro by
macro investors.
Rupee edges down against dollar
RBI REFERENCE RATE The rupee edged down to 53.76/77 versus its previous
close of 53.6950/7150 as a sharp fall in the euro to
As on 2ND November 2012
three week lows helped the dollar index gain to a
seven-week high. Traders say the euro's losses triggers
dollar short-covering in the domestic market, while
UNDERLYING RATE
demand from oil and gold importers to a small extent
USDINR 53.6645 adds to the rise.
EURINR 69.2425
Sterling rises to 1-month high versus euro
GBPINR 86.3676 Sterling rose to a one-month high against the euro on
JPYINR 66.8500 Friday, with investors viewing the UK relatively
optimistically as the euro zone economy faces a sharp
downturn.
But sterling slipped against a broadly stronger dollar
before a crucial U.S. jobs report that could bolster
expectations of a recovery in the world's biggest
economy.
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6. FOREX FORTHCOMING EVENTS
DAY TIME CURRENCY DETAILS ACTUAL FORECAST PREVIOUS
MONDAY 1.30 PM EUR Spanish Unemployment Change 90.3K 79.6K
MONDAY 8.30 PM USD ISM Non-Manufacturing PMI 54.6 55.1
TUESDAY 3.00 PM GBP Manufacturing Production m/m 0.3% -1.1%
THURSDAY 7.00 PM EUR ECB Press Conference
THURSDAY 7.00 PM USD Trade Balance -44.9B -44.2B
THURSDAY 7.00 PM USD Unemployment Claims 373K 363K
FRIDAY 8.25 PM USD Prelim UoM Consumer Sentiment 82.6 82.6
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