Tuesday, 10 June 2014

What's Happening, and Where, on Jun 10

DATA ALERT
* from OVERSEAS
> JAPAN PRELIMINARY MACHINE TOOL ORDERS in May. 1130 IST
> GERMANY MANUFACTURING TURNOVER in Apr. 1130 IST
> FRANCE INDUSTRIAL PRODUCTION INDEX for Apr. 1215 IST
> ITALY INDUSTRIAL PRODUCTION in Apr. 1330 IST
> UK MONTHLY INDUSTRIAL PRODUCTION in Apr. 1400 IST
> ITALY GDP for Jan-Mar. 1430 IST
> FRANCE OECD COMPOSITE LEADING INDICATORS for Apr. 1530 IST
> US ICSC-GOLDMAN SACHS CHAIN STORE SALES in week to Jun 7. 1715 IST
> US JOHNSON REDBOOK RETAIL SALES INDEX for week to Jun 7. 1825 IST
> US WHOLESALE TRADE in Apr. 1930 IST

From INDIA
> SOCIETY OF INDIAN AUTOMOBILE MANUFACTURERS TO DETAIL AUTOMOBILE SALES for May. 1030 IST, Delhi.

CONFERENCES
* REFORM MEET: Finance Ministry Principal Economic Adviser Patnaik to speak at a panel discussion on reform agenda. 0945 IST, New Delhi.
* MINE REVIVAL: CII meet on Revival of Mining Industry. Mines Secy Pujari to be present. 1000 IST, New Delhi.

RBI COUNTER
* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.
* STATE DEVELOPMENT LOAN AUCTION: RBI to hold auction of bonds of eight states--Assam, Goa, Maharashtra, Manipur, Mizoram, Punjab, Rajasthan and Tamil Nadu--worth 41.30 bln rupees.

MARKETS Call : Seen opening above repo rate on likely strong demand from banks to meet reserve needs. 1-day call: 8.10-8.30% vs 8.00% Monday.
Bonds : Seen in a thin band. Traders to avoid big buys on lack of cues. 10-year yield: 8.51-8.57% vs 8.55% Monday.
Rupee : May open steady to tad up. RBI's dollar purchases likely to check gains. May track local shares. Range: 58.95-59.60/$1 Tue vs 59.20/$1 Monday.
Stocks: Seen testing record highs amid positive cues from overseas markets. Nifty range 7600-7700; Monday-end 7654.60, up 71.20 points.

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