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

Canada Shooting

Canada Shooting

Attack on parliament, killing of soldier stun Canada's capital.  Full Article 

Earnings Season

Earnings Season

Wipro sees rosier end to year as U.S. clients spend.  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Book Keeping

Book Keeping

RBI fires warning shots on companies' lack of FX hedging.  Full Article 

Policy Repo Rate

Policy Repo Rate

Most external members suggested rate cut in RBI's Sept review.  Full Article 

Reuters India Mobile

Reuters India Mobile

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