CURRENCIES
EUR/USD: The euro was trading marginally lower against the US dollar, continuing its trend from Tuesday when it fell due to lower-than-expected April inflation in Germany at 1.1%, lower than the expected 1.3%. A lower inflation in the region may prompt the European Central Bank to opt for further monetary easing, including asset purchases that would lead to an increase in supply of euros in the market. --$1.3807 per euro today vs $1.3812 Tuesday; $1.3849 Monday.
USD/JPY: Yen was marginally up against the US dollar early in trade, recovering from the lows of the previous session as traders cut some positions ahead of the outcomes of two crucial central bank meets. --102.50 yen per $1 today vs 102.64 Tuesday; 102.48 Monday.
CONFERENCES
CORP-TAX MEET: Income Tax Commissioner Soni to speak at a seminar on corporate valuation. 1000 IST, New Delhi.
MEDIA MEET: Information and Broadcasting Minister Tewari, Department of Electronics Joint Secretary Kumar to speak at 'SMAC: For Business Transformation seminar. 1000 IST, New Delhi.
EMPLOYER-EMPLOYEE: Labour & Employment Additional Secretary Pandey to speak at seminar on 'Managing Employer Employee Relationship for Competitiveness'. 1030 IST,New Delhi.
WOMEN IN COS: HSBC India Country Head Kidwai, Welspun Global Brands MD Goenka to speak at a panel discussion on 'Women in the Corporate World'. 1130 IST, New Delhi.
RBI COUNTER
DAILY LAF TENDERS: One set of 2-day reverse repo (at 7.00%) and 2-day repo(@8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.
T-BILL AUCTIONS: RBI to auction 90 bln rupees of 91-day T-bills, and 60 bln rupees of 364-day T-bills.
+ 91-DAY: Yield seen at 8.81-8.85% vs 8.85% a week ago.
+ 364-DAY: Yield seen at 8.85-8.95% vs 8.96% a fortnight ago.
MARKETS
Call : Seen opening firm on tight liquidity, banks' daily fund needs. May ease intraday. 2-day call: 8.70-8.85% vs 1-day 8.50-8.55% Tue.
Bonds : Seen steady ahead of weekly gilt auction Fri, US FOMC decision. Supply may weigh. 10-yr yld: 8.80-8.88% vs 8.83% Tue.
Rupee : May open steady. Corporate dollar flows seen supporting. Mood seen cautious before US FOMC outcome. Range: 60.25-60.60/$1 vs 60.42/$1 Tue.
Stocks: Seen opening up on overseas cues; Jan-Mar earnings eyed. Nifty range 6650-6750; Tuesday end 6715.25, down 46.00 points
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EUR/USD: The euro was trading marginally lower against the US dollar, continuing its trend from Tuesday when it fell due to lower-than-expected April inflation in Germany at 1.1%, lower than the expected 1.3%. A lower inflation in the region may prompt the European Central Bank to opt for further monetary easing, including asset purchases that would lead to an increase in supply of euros in the market. --$1.3807 per euro today vs $1.3812 Tuesday; $1.3849 Monday.
USD/JPY: Yen was marginally up against the US dollar early in trade, recovering from the lows of the previous session as traders cut some positions ahead of the outcomes of two crucial central bank meets. --102.50 yen per $1 today vs 102.64 Tuesday; 102.48 Monday.
CONFERENCES
CORP-TAX MEET: Income Tax Commissioner Soni to speak at a seminar on corporate valuation. 1000 IST, New Delhi.
MEDIA MEET: Information and Broadcasting Minister Tewari, Department of Electronics Joint Secretary Kumar to speak at 'SMAC: For Business Transformation seminar. 1000 IST, New Delhi.
EMPLOYER-EMPLOYEE: Labour & Employment Additional Secretary Pandey to speak at seminar on 'Managing Employer Employee Relationship for Competitiveness'. 1030 IST,New Delhi.
WOMEN IN COS: HSBC India Country Head Kidwai, Welspun Global Brands MD Goenka to speak at a panel discussion on 'Women in the Corporate World'. 1130 IST, New Delhi.
RBI COUNTER
DAILY LAF TENDERS: One set of 2-day reverse repo (at 7.00%) and 2-day repo(@8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.
T-BILL AUCTIONS: RBI to auction 90 bln rupees of 91-day T-bills, and 60 bln rupees of 364-day T-bills.
+ 91-DAY: Yield seen at 8.81-8.85% vs 8.85% a week ago.
+ 364-DAY: Yield seen at 8.85-8.95% vs 8.96% a fortnight ago.
MARKETS
Call : Seen opening firm on tight liquidity, banks' daily fund needs. May ease intraday. 2-day call: 8.70-8.85% vs 1-day 8.50-8.55% Tue.
Bonds : Seen steady ahead of weekly gilt auction Fri, US FOMC decision. Supply may weigh. 10-yr yld: 8.80-8.88% vs 8.83% Tue.
Rupee : May open steady. Corporate dollar flows seen supporting. Mood seen cautious before US FOMC outcome. Range: 60.25-60.60/$1 vs 60.42/$1 Tue.
Stocks: Seen opening up on overseas cues; Jan-Mar earnings eyed. Nifty range 6650-6750; Tuesday end 6715.25, down 46.00 points
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