Due to concern relating high CAD rupee is loosing strength and and has touched 54.81 and may touch 55.50 level in the short term . Fiscal deficit concern will put additional pressure and it may touch 56 level by April 12
The latest FOMC Meeting Minutes indicate that the FOMC members are concerned about the Assets purchase program (QE) presently going on to support market and indicate that it need to be stopped before the end of 2013
Japanese Yen has been weakning against USD since the new Prime Minister took charge in Japan . Japan being an Export driven Country it is beneficial to it . On the other hand Korean Won has been appreciating which is not good for Korean economy being export dependent .
Euro has lost its strength due to the Banking concern in Greece . The NPA assets of Greece Bank has gone up to 24% as against 18% earlier . GreeceBank may need additional financial support very shortly .
Indian Equity Market is seeing lot of upward move due to strong FII investment after the end of Holiday season . It has touched two year high yesterday . But the impact is getting minimised due to agressive selling by Indian Institution and profit taking by retail Investors . Strong Corporate Profit data is expected for Dec quarter which will drive the SENSEX to 20K+ very shortly .
In an interesting move RBI has supported and appreciated the Business Model of Gold based lending Companies which has been very active in the last few years . RBI appreciated them as they help to unlock the unproductive Gold reserve for economic growth .
The latest FOMC Meeting Minutes indicate that the FOMC members are concerned about the Assets purchase program (QE) presently going on to support market and indicate that it need to be stopped before the end of 2013
Japanese Yen has been weakning against USD since the new Prime Minister took charge in Japan . Japan being an Export driven Country it is beneficial to it . On the other hand Korean Won has been appreciating which is not good for Korean economy being export dependent .
Euro has lost its strength due to the Banking concern in Greece . The NPA assets of Greece Bank has gone up to 24% as against 18% earlier . GreeceBank may need additional financial support very shortly .
Indian Equity Market is seeing lot of upward move due to strong FII investment after the end of Holiday season . It has touched two year high yesterday . But the impact is getting minimised due to agressive selling by Indian Institution and profit taking by retail Investors . Strong Corporate Profit data is expected for Dec quarter which will drive the SENSEX to 20K+ very shortly .
In an interesting move RBI has supported and appreciated the Business Model of Gold based lending Companies which has been very active in the last few years . RBI appreciated them as they help to unlock the unproductive Gold reserve for economic growth .
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