12/6/2013

Another rigging  in FX,to profit off the Clients themselves.....
An excerpt from the link above:-

"Concentrating Orders

By concentrating orders in the moments before and during the 60-second window, traders can push the rate up or down, a process known as “banging the close,” four dealers said.

Three said that when they received a large order they would adjust their own positions knowing that their client’s trade could move the market. If they didn’t do so, they said, they risked losing money for their banks.

One trader with more than a decade of experience said that if he received an order at 3:30 p.m. to sell 1 billion euros ($1.3 billion) in exchange for Swiss francs at the 4 p.m. fix, he would have two objectives: to sell his own euros at the highest price and also to move the rate lower so that at 4 p.m. he could buy the currency from his client at a lower price.

He would profit from the difference between the reference rate and the higher price at which he sold his own euros, he said. A move in the benchmark of 2 basis points, or 0.02 percent, would be worth 200,000 francs ($216,000), he said."

Sensex  -102 ;  19041  
Nifty Futures [Monthly]    about 17 points  Discount      12/6/2013
P/C  0.92
vix[fear index]:-
India                         18.85; -0.64; -3.28 %                                       
Foreign    D/M/Y :-    Rs Crores -      -1060    
Indian        Rs Crores :-                        +718
BDI   $           847 ;+22 ;+2.60%;ABOVE  200 DMA of 840.62.But still LOW.        
Gold       1388 $/US Oz   Rs 27935 / 10 grams { Manipulation as Crude price ONLY is going up on a weak Dollar but others fall,especially Gold and Silver to some extent.Big Oil and "THE" Bankers?]
 [CME has reduced Margins for Gold,Silver and Copper contracts on 15/11/2012]
Silver    700  $/kg      Rs 43491 / Kg [in India PHYSICAL Silver at about 10% premium] 
Copper   3.2190    $/Lb
Reuters CRB Index US $  285.22
Brent Crude    103.45  $/bbl      [43% Indian Crude basket]
Oman Dubai Crude   [57%R Indian Crude basket]
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Crude Oil (Indian Basket) 11/6/2013
-     In US Dollar ($/bbl) 100.79
-     In Indian Rupees (`/bbl)   5939.55
-     last fortnight      "   "          5618.48  [May    16th to 31 st, ,2013]
Exchange Rate  (`/$) 58.93
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US Dollar Index  80.93
Re V Dollar          57.82
HS BC manufacturing Purchasing Managers' Index (PMI) , compiled by Markit, 50.1 in May,2013.It was 50.7 in April.
The HSBC services Purchasing Managers' Index (PMI), based on a survey of around 400 companies, fell to 54.2 in February from January,2013, 57.5.
Above 50 indicates growth.