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USDINR closed at 60.47 against its open at 60.51. | Nifty provisionally gained 0.37 percent, marking its eighth session of gains in nine. | The Purchasing Managers' Index for Germany was 54.9 for August, well above the 50 mark that separates economic expansion from contraction, reassuring investors about Europe's biggest economy. | Gold held near a two-month low and was headed for its worst week in five, hurt by strong U.S. economic data and fears that the Federal Reserve could hike interest rates sooner than expected. | Geopolitical tensions in Ukraine and the Middle East were also being watched for any escalation in violence that could prompt safe-haven bids for gold. | The focus would be on Janet Yellen’s speech, in which investors will look for any fresh signals about the timing of U.S. interest rate increases. | Asian shares neared a six-and-half-year peak and was poised for a weekly gain, after upbeat U.S. economic data sparked another record. | The RBI is eyeing to limit stock market volatility.

Forex Talk

Minutes of the Federal open Market Committee

INDICES

LAST

BSE

26419.55

NSE

7913.20

OIL

102.23

102.28

GOLD

1280.76

1280.94

USD

0.2349

0.329

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Currency Futures

Currency Futures

Currency markets are the most liquid product around the world and trades across time zones. While it was not allowed before, traders ( both individuals and companies), can now trade currencies against margins. While individuals trade, companies can use it as a parallel plaform to hedge their risk. The Features of currency futures are:

High Liquidity
Simple and easy to understand
Standardized trading platform with Online/Offline modes
Less volatile market as compared to other trading products
Low Margin with High Leverage
Currency follows close correlations with Equities, Commodities
Currency Options are also available in USD/INR
Spread Trading - Inter Currency and Intra Currency Spread
Huge trading limits for Retail, corporate and Institutional clients
Exchange Traded Currency Derivatives are effective risk management tools

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