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MARKET EYE WEEKAHEAD - Current account data key for debt/FX
December 28, 2012 / 10:38 AM / in 5 years

MARKET EYE WEEKAHEAD - Current account data key for debt/FX

Reuters Market Eye - The government will release current account data for July-September on Monday amid expectations it will show a record high deficit, sending the balance of payments into negative territory.

An employee uses an electronic machine to check a rupee note inside a bank in Allahabad December 16, 2011. REUTERS/Jitendra Prakash/Files

Global risk factors will also be key for Indian debt and FX markets as U.S. lawmakers continue negotiations over the “fiscal cliff”: failure to clinch a deal may send the dollar sharply higher.

However, hopes for interest rate cuts in January will gather steam in the new year.

RBI will also issue its T-bills issuance calendar for the Jan-March quarter, which will be watched closely to see whether RBI funds its extra borrowing with shorter-term paper.

Indian markets will remain open on January 1.

Reporting by Subhadip Sircar

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