Asian markets are trading on a negative note due to ongoing concerns of
the Euro debt crisis and German Chancellor Angela Merkel resist sharing
the Euro area debt causing the crisis to worsen further thereby limiting
growth of the entire global economy.
Moody’s the credit rating agency downgraded 28 Spanish banks due to
piling sovereign debt and souring real-estate loans. The agency
downgraded six banks by four levels and 10 by three grades and the rest
getting one- and two-tier declines.
US New Home Sales increased by 26,000 to 369,000 in May as against a
previous rise of 343,000 a month ago.
China’s Conference Board (CB) Leading Index rose by 1.1 percent in May
when compared to earlier rise of 0.9 percent in April.
US Dollar Index
US Dollar Index (DX) gained by 0.3 percent yesterday on back of rise in the
risk aversion in the global markets ahead of the EU summit to be held on
June 28-29 in Brussels. U.S. equities settled on a negative note in
yesterday’s trading session. The currency touched an intra-day high of
82.83 and closed at 82.66 on Monday.
Dollar/INR
The Indian Rupee swung between gains and losses in yesterday’s trading
session and settled with appreciation of 0.2 percent. The currency
appreciated on the back of series of measure taken by the Reserve Bank
of India (RBI) to curb the fall in Indian Rupee.
The RBI raised the External Commercial Borrowing (ECB’s) by $10 billion
and also raised FIIs investment in corporate bonds to $20 billion and
government bonds by $15 billion respectively.
However, further appreciation in the Indian Rupee was capped taking
cues from weak domestic equities. The currency touched an intra-day
high of 56.37 and closed at 56.98 on Monday.
For the current month, FII outflows totaled at Rs 350.60 crores till 25th
June 2012. While on a year to date basis, net capital inflows stood at Rs
42,143.80 crores till 25th June 2012.
Outlook
We expect Rupee to depreciate today on the back of rise in risk aversion
in the global markets which will lead to increase in demand for DX and
exert downside pressure on the Indian Rupee.
the Euro debt crisis and German Chancellor Angela Merkel resist sharing
the Euro area debt causing the crisis to worsen further thereby limiting
growth of the entire global economy.
Moody’s the credit rating agency downgraded 28 Spanish banks due to
piling sovereign debt and souring real-estate loans. The agency
downgraded six banks by four levels and 10 by three grades and the rest
getting one- and two-tier declines.
US New Home Sales increased by 26,000 to 369,000 in May as against a
previous rise of 343,000 a month ago.
China’s Conference Board (CB) Leading Index rose by 1.1 percent in May
when compared to earlier rise of 0.9 percent in April.
US Dollar Index
US Dollar Index (DX) gained by 0.3 percent yesterday on back of rise in the
risk aversion in the global markets ahead of the EU summit to be held on
June 28-29 in Brussels. U.S. equities settled on a negative note in
yesterday’s trading session. The currency touched an intra-day high of
82.83 and closed at 82.66 on Monday.
Dollar/INR
The Indian Rupee swung between gains and losses in yesterday’s trading
session and settled with appreciation of 0.2 percent. The currency
appreciated on the back of series of measure taken by the Reserve Bank
of India (RBI) to curb the fall in Indian Rupee.
The RBI raised the External Commercial Borrowing (ECB’s) by $10 billion
and also raised FIIs investment in corporate bonds to $20 billion and
government bonds by $15 billion respectively.
However, further appreciation in the Indian Rupee was capped taking
cues from weak domestic equities. The currency touched an intra-day
high of 56.37 and closed at 56.98 on Monday.
For the current month, FII outflows totaled at Rs 350.60 crores till 25th
June 2012. While on a year to date basis, net capital inflows stood at Rs
42,143.80 crores till 25th June 2012.
Outlook
We expect Rupee to depreciate today on the back of rise in risk aversion
in the global markets which will lead to increase in demand for DX and
exert downside pressure on the Indian Rupee.
No comments:
Post a Comment
If you have any doubts, Please let me know