Treasury Dep Forex Market Outlook Treasury Department, Kuwait

Treasury Department, Kuwait.
Forex Market Outlook
June 11, 2015
EUR/USD: Euro slightly higher against dollar:
• The euro rose modestly on Wednesday to reverse mild losses one session earlier, as
Germany reportedly neared a breakthrough with Greece on an incremental cash-forcash
reforms package that could help the cash
cash-strapped nation
on avoid default on its sovereign
debt.
• EUR/USD gained 0.0045 or 0.40% to move to 1.1324 on Wednesday against its
American counterpart. EUR/USD traded between 1.1264 and 1.1386 on a choppy day of
trading. The pair remained over 1.10 for the seventh consecutive se
session
n.
• In the week ahead, investors
stors will be focusing on revised data on first quarter growth from
the euro zone, while reports on euro zone industrial production will also be closely
watched. The ECB also revised up its inflation forecast for this year and said it saw no
reason add more
e monetary stimulus following the recent rally in European bond yields.
yields
EUR/USD-Chart:
Hourly EUR=
Cndl, EUR=, Bid
8:00 AM 11/06/15, 1. 1300, 1. 1313, 1. 1300, 1. 1306, -0. 0018, (-0. 16%)
12:00 AM 08/06/15 - 4:00 AM 11/06/15 (KWI)
Price
USD
1.14
1.136
1.132
1.128
1.124
1.12
1.116
1.112
1.108
1.104
Auto
07:00
15:00
08 June 2015
23:00
09:00
17:00
09 June 2015
01:00
09:00
17:00
10 June 2015
01:00
GBP/USD: Sterling higher against dollar
dollar:
• The pound rose to session highs against the softer dollar on Wednesday after data
showed that U.K. industrial output was stronger than expected in April, but manufacturing
output declined unexpectedly
unexpectedly.
• GBP/USD hit highs of 1.5471, the most since May 26, up from around 1.5442 ahead of
the data on Wednesday.
• The
he U.K. Office for National Statistics said industrial output rose by 0.4% in April, ahead
of forecasts for a 0.1% increase, following an upwardly revised increase of 0.6%
0.6 in
March. The U.S. dollar index
index,, which measures the greenback’s strength against a tradetrade
weighted basket of six major currencies, was down 0.49% to 94.35
94.35.
• In the week ahead, Thursdays U.S. retail sales report and Fridays report on consumer
sentiment will be scrutinized for signs that the world’s largest economy is gaining
momentum in the current quarter
quarter.
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Treasury Department, Kuwait.
GBP/USD Chart:
Hourly GBP=
11:00 PM 07/06/15 - 4:00 AM 11/06/15 (KWI)
Price
USD
1. 556
Cndl, GBP=, Bid
8:00 AM 11/06/15, 1. 5495, 1. 5508, 1. 5493, 1. 5499, -0. 0030, (-0. 19%)
1. 552
1. 548
1. 544
1. 54
1. 536
1. 532
1. 528
1. 524
1.52
Auto
23:00
07:00
15:00
08 June 2015
23:00
09:00
17:00
09 June 2015
01:00
09:00
17:00
10 June 2015
01:00
USD/CAD: dropped against Canadian dollar
dollar:
• The U.S. dollar dropped to two
two-and-a-half
half week lows against its Canadian counterpart on
Wednesday, as demand for the greenback continued to weaken after rising sharply in last
week's sessions.
• USD/CAD hit 1.2217 during Wednesday trade, the pair's lowest
west since May 22; the pair
subsequently consolidated at 1.2207, tumbling 1.03%
1.03%.
• The greenback weakened as investors continued to lock
lock-in
in profits from the currency's
recent rally after an above forecast U.S. jobs report on Friday underlined expectations
that
hat the Fed could start to raise rates at its September meeting
meeting.
• In the week ahead, Thursdays U.S. retail sales report and Fridays report on consumer
sentiment will be scrutinized for signs that the world’s largest economy is gaining
momentum in the current quarter
quarter.
USD/CAD Chart:
Hourly CAD=
Cndl, CAD=, Bid
8:00 AM 11/06/15, 1. 2270, 1.2273, 1. 2262, 1. 2272, +0. 0019, (+0. 16%)
10:00 PM 05/06/15 - 4:00 AM 11/06/15 (KWI)
Price
/USD
1. 251
1. 248
1. 245
1. 242
1. 239
1. 236
1. 233
1.23
1. 227
1. 224
1. 221
Auto
23:00
07:00
15:00
08 June 2015
23:00
09:00
17:00
09 June 2015
01:00
09:00
17:00
10 June 2015
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01:00
Currency Levels:
Currency Levels on 10.06.2015
Currency
EUR/USD
GBP/USD
USD/CAD
USD/JPY
USD/CHF
USD/ZAR
USD/LKR
High
1.1384
1.5488
1.2352
124.62
0.9321
12.482
134.15
Low
1.1261
1.537
1.2217
122.47
0.9231
12.31
133.8
10.06.2015
USD/INR
Open
64.030
0.006013
166.299
Close
63.830
0.006032
165.779
High
64.050
0.006011
166.351
Low
63.780
0.006037
165.649
OMR
0.43832
0.59633
0.31171
0.003090
0.4131
0.030847
0.002870
INR/OMR OMR/INR
Euro and GBP are now trading at 1
1.1304 and 1.5493 levels respectively.
Ranges for the Day:
Currency Pair
Previous Close
Range for the day
OMR
USD/INR
63.83
63.600
63.900
0.006054
0.006026
EUR/USD
1.1324
1.128
1.133
0.4343
0.4362
GBP/USD
1.5530
1.548
1.553
0.5960
0.5980
USD/CAD
1.2253
1.225
1.229
0.3143
0.3133
USD/PHP
44.98
45.000
45.150
0.008556
0.008528
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Currency Levels:
Currency Levels on 10.06.2015
Currency
EUR/USD
GBP/USD
USD/CAD
USD/JPY
USD/CHF
USD/ZAR
USD/LKR
High
1.1384
1.5488
1.2352
124.62
0.9321
12.482
134.15
Low
1.1261
1.537
1.2217
122.47
0.9231
12.31
133.8
BHD
0.42929
0.58405
0.30529
0.003026
0.4046
0.030212
0.002811
10.06.2015
USD/INR
INR/BHD BHD/INR
Open
64.030
0.005889
169.796
Close
63.830
0.005908
169.265
High
64.050
0.005888
169.849
Low
63.780
0.005913
169.133
PKR and PHP are now trading at 101.83 and 45.01 levels respectively.
Ranges for the Day:
Currency Pair
USD/INR
Previous Close
63.83
Range for the day
63.600
63.900
EUR/USD
1.1324
1.128
GBP/USD
1.5530
USD/CAD
USD/PHP
BHD
0.005929
0.005901
1.133
0.4254
0.4273
1.548
1.553
0.5838
0.5856
1.2253
1.225
1.229
0.3078
0.3068
44.98
45.000
45.150
0.008380
0.008352
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Currency Levels:
Currency Levels on 10.06.2015
Currency
EUR/USD
GBP/USD
USD/CAD
USD/JPY
USD/CHF
USD/ZAR
USD/LKR
High
1.1384
1.5488
1.2352
124.62
0.9321
12.482
134.15
Low
1.1261
1.537
1.2217
122.47
0.9231
12.31
133.8
10.06.2015
USD/INR
Open
64.030
0.004718
211.936
Close
63.830
0.004733
211.274
High
64.050
0.004717
212.002
Low
63.780
0.004737
211.108
KWD
0.34393
0.46792
0.24459
0.002424
0.32413
0.024204
0.002252
INR/KWD KWD/INR
CAD is trading at 1.2275 and INR 63.81 levels respectively.
Ranges for the Day:
Currency Pair
USD/INR
EUR/USD
GBP/USD
USD/CAD
USD/PHP
AUD/USD
Previous Close
63.830
1.1324
1.5530
1.2253
44.98
0.7738
Range for the day
63.600
63.900
1.128
1.1330
1.548
1.5530
1.225
1.2290
45.000
45.15
0.7710
0.7790
KWD
0.004751
0.3408
0.4677
0.2466
0.006714
0.2329
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0.004729
0.3423
0.4692
0.2458
0.006691
0.2354
Treasury Department, Kuwait.
USD/INR-Chart:
10 Minutes INR=IN
Cndl, INR=IN, Bid
7:50 AM 11/06/15, 63.7800, 63. 7900, 63.7750, 63. 7800, -0.0550, (-0.09%)
2:40 PM 05/06/15 - 7:50 AM 11/06/15 (KWI)
Price
64. 2
64. 15
64. 1
64. 05
64
63. 95
63. 9
63. 85
63. 8
63. 75
Auto
08:10
10:10
12:10
08 June 2015
14:10
08:10
10:10
12:10
09 June 2015
14:10
08:10
10:10
12:10
10 June 2015
14:10
USD/INR: Rupee gains against U.S. dollar in early trade:
•
Rupee strengthened by another 8 paise to 63.76 against the dollar in early trade today at
the Interbank Foreign Exchange on sustained selling of the US currency by exporters and
banks as the current account deficit shrank in the fourth quarte
quarter. CAD narrowed sharply
to $1.3 billion, or 0.2% of GDP, on a sequential basis, mainly on account of a lower trade
gap. A higher opening in domestic stock market supported the rupee, but the dollar's
strength against other currencies overseas limited the gain
gains.
•
The rupee had risen 8 paise to close at 63.84 against the greenback in yesterday's
ye
trade
on persistent dollar selling by banks and exporters on hopes of foreign capital inflows
amid a strong capital market
market. Meanwhile, the benchmark BSE Sensex reclaimed the
27,000 mark by surging 159.64 points, or 0.59%, to 27,000.14 in early ttrade
rade today.
toda
•
Investors will focus
ocus on US retail sales data due later today. Investors also await China
May industrial output, retail sales and investment data, due at 11:00 am India time today;
only marginal improvements expected, fueling expectations of more policy easing by
Beijing. Sentiment on the greenback remained vulnerable following rumors on Monday
that President Obama told the G7 summit in Germany that the strong dollar was "a
problem." The expected ra
range for the day is 63.60 – 63.90 per dollar.
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+96899108371.
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