The Indian rupee snapped a three-day rise and retreated from a near one-month high hit early on Monday as heavy dollar demand from oil refiners hurt while sentiment was also cautious ahead of the conclusion of general elections next week. Although the rupee has been helped by continued foreign inflows into equities, which helped the currency gain in each of the previous three sessions, overseas investors have turned sellers in index futures totaling 2.43 billion rupees over the five previous sessions until Friday. The one-month implied volatility in the spot rupee stood at 11.3 percent, not far from 12.2 percent hit on April 28, which was its highest since mid-November.
Today’s Headlines
1) India’s Rupee Advances to One-Month High after U.S. Jobs Report
2) Yen Climbs after China Data as Kuroda Touts Recovery
3) EU Cuts Euro-Area Growth Outlook as Inflation Seen Slower
4) Fed’s Fisher Says Economy Strengthening as Payrolls Rise
5) Pound Climbs to 4-Year High on U.K.’s Resurgent Economic Growth
For more information please visit: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
Today’s Headlines
1) India’s Rupee Advances to One-Month High after U.S. Jobs Report
2) Yen Climbs after China Data as Kuroda Touts Recovery
3) EU Cuts Euro-Area Growth Outlook as Inflation Seen Slower
4) Fed’s Fisher Says Economy Strengthening as Payrolls Rise
5) Pound Climbs to 4-Year High on U.K.’s Resurgent Economic Growth
For more information please visit: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
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