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MARKET EYE WEEKAHEAD-India GDP, parliament key for FX/debt
November 23, 2012 / 11:14 AM / 5 years ago

MARKET EYE WEEKAHEAD-India GDP, parliament key for FX/debt

* Indian bonds and forex markets will closely monitor
developments from the winter session of parliament currently
underway for signs of the government's resolve to pass key
* September-quarter gross domestic product data on Friday will
also be a key trigger, with growth seen slowing to its lowest in
nearly a decade for the year ending in March.
* Debt traders are also keenly awaiting to see whether the
central bank will buy bonds from the open market after repo
borrowings from the central bank surpassed 1 trillion rupees for
eight consecutive sessions. 
* The absence of open market operations could push the 10-year
bond yield towards 8.27 percent. 
* The rupee could weaken further and touch 56 levels
next week after hitting its lowest since early September. 
* However, RBI may intervene to prevent further weakness in the
rupee, while dollar demand from importers in the last week of
the month will also be watched. 
Sat-Sun: BANCON, an annual banking conference in Pune, to be
attended by senior officials including RBI deputy governors.
Wed: Markets closed for holiday
Thurs: Money supply data
Fri: India July-Sept GDP data, bank credit, and forex reserves 

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