Indian Rupee to Stay Cautious ahead of HSBC PMI and the Much Awaited RBI Policy Review, Dollar Trades Firm against Peers Rupee is likely to remain cautious as the investors now turn their attention towards the much awaited RBP policy review which is due to be held on Tuesday. Asian markets are trading mixed with Hang Seng trading deeply in red terrain. SGX Nifty is pointing towards an 8poinst lower start. On data front, the HSBC Markit Manufacturing PMI will be released today. The Indian Rupee ended 0.25% lower at 62.39 against the dollar on Friday with cautiousness sustaining ahead of key economic data. Friday was an important day for the domestic investors who keenly eyed the Indian GDP data which came in at 5.3% after the markets closed. Hefty gains in the domestic equity markets failed to support the Rupee as importers sort to heavy dollar buying to meet their month end import commitments. Dollar traded little changed against peers during the Asian trading hours on Monday with the greenback currently trading at 88.37 levels. A series of manufacturing data is due across the globe today, which can cause some volatility in the markets. Among the major currency pairs, EUR/USD is down 0.03% at 1.2448, GBP/USD is down 0.19% at 1.5611, USD/JPY added 0.22% to 118.87 while AUD/USD pair is down 0.71% at 0.8443 levels. Aussie fell sharply after the Chinese PMI disappointed the markets.
Posted on: Mon, 01 Dec 2014 03:20:12 +0000
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