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MARKET EYE-USD/INR seen inching lower; shares watched for cues
May 30, 2013 / 3:17 AM / 4 years ago

MARKET EYE-USD/INR seen inching lower; shares watched for cues

* USD/INR is expected to edge lower versus its
Wednesday's close of 56.17/18, tracking gains in regional
currencies. However, domestic shares will be watched closely for
trading during the session. 
* Asian currencies are mostly trading stronger versus the
dollar. See for a snapshot.
* The Nifty India stock futures traded in Singapore are
down 0.09 percent, while MSCI's Asia-ex Japan index
 is 0.47 percent lower.
* The dollar remained under pressure in early Asian trading on
Thursday, after tumbling more than one percent against the yen
in the previous session, on growing expectations that the U.S.
Federal Reserve will maintain its stimulus for the time being.
* Dealers will watch the gross domestic product data scheduled
to be released on Friday, and are hoping weaker growth will push
the RBI to cut interest rates again next month.


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