MARKET EYE WEEKAHEAD-India FX/Debt markets await parliament vote, OMO

Fri Nov 30, 2012 2:46pm IST

Related Topics

* The Indian rupee's fortunes will be closely linked with the
vote on FDI in multi-brand retail in parliament next week. The
ruling Congress-led alliance is expected to muster a majority in
the lower house, but faces a tougher challenge in the upper
house.
* The vote is non-binding but any loss will sharply reduce the
government's ability to carry forward with further bold reforms
and hurt the rupee's fortunes.
* State-run bank dealer tips USD/INR in 54.10-54.90 band next
week.
* Bond markets will be closely watching how much of paper and at
what cutoffs the central bank buys at the OMO on Tuesday. The
RBI has said it will buy up to 120 billion rupees of bonds,
including the benchmark 10-year paper.
* India to sell 120 billion rupees of bonds next week.
      
KEY FACTORS/EVENTS TO WATCH: 
Sat: RBI Governor Duvvuri Subbarao, PM Economic Advisory Council
Chairman C. Rangarajan at IGIDR event in Mumbai.
Mon: India Manufacturing PMI for November.
Wed: India Services PMI for November.
     Reserve Money data.
Thurs: RBI board meet in Kolkata, likely followed by press
briefing.
      3-day International tax conference begins in Mumbai.
Fri: RBI to release forex, bank lending data.

 (subhadip.sircar@thomsonreuters.com /
subhadip.sircar.thomsonreuters.com@reuters.net)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Literary Giant Dies

Literary Giant Dies

Nobel winner Garcia Marquez, master of magical realism, dies at 87.  Read 

Election 2014

Election 2014

India holds biggest day of voting with BJP gaining strength  Full Article | Full Coverage 

Insider Trading

Insider Trading

Ex-Goldman director Gupta starts prison term on June 17.  Full Article 

Market Eye

Market Eye

Sensex jumps 351 points, snaps 3-day losing streak  Full Article 

Expansion Plans

Expansion Plans

Reliance Industries, HPCL Mittal plan refinery expansions.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Deal Talk

Deal Talk

Piramal to buy 20 percent stake in Shriram Capital for $334 million.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage