Daily Buzz
Rouble slided in early trade on Tuesday in thin, volatile holiday trading and under pressure from weak oil prices. By 0703 GMT Rouble was downward 0.3 percent against the dollar at 61.05 roubles and 0.4 percent weaker against the euro at 73.00.
Oil prices which hit a 5-1/2-year low-lying on Monday on desired of a supply glut, would constantly to weigh heavily on the Russian currency, making it extra vulnerable to sharp moves in thin trade. "$/RUB in the current circumstances is in a most harmful position, especially since the majority of Russian traders have yet to return from the New Year holiday. That means in the upcoming days we desired sharp movements in riposte to the dynamics of US dollar to other pairs, and the movement of Brent oil, which constantly to strike new 'anti-records' since the beginning of 2015." Russian shares were mixed, highly reflecting moves in the rouble.
Market Calls For Forex:
REVIA I FOREX: BUY USDJPY ABOVE 119.50 TGTS 119.70/120.00 SL 119.30REVIA I FOREX: USDJPY HIT 1ST TGT 119.70 BOOK PARTB PROFIT
REVIA I FOREX: SELL EURUSD BELOW 1.1860 TGTS 1.1840/1.1810 SL 1.1880
REVIA I FOREX: EURUSD HIT 1ST TGT 1.1840 BOOK PART PROFIT
RBI REFERENCE RATE
As on 07th JANUARY 2014
UNDERLYING RATE
USDINR 63.4495
EURINR 75.2765
GBPINR 95.9864
JPYINR 53.3000
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