Forex - India Flows: USD/INR; Bond auction attracts FIIs; Apr-Oct fiscal ...
USD/INR was smack-dunk to 51.70 lows soon after the opening bell on Thu, down from 52.20 conclusion yest. Bid EUR and hefty 3.0% rally on the local equity index weighed on the pairing, with exchange of end-month bids also fanning the pair's bearish bias. Convincing pullback below tech substructure of 51.75 will expose 51.42 next. Bond yields meanwhile treaded water at 8.75% in at cock crow hours as improved risk-uptake supported at dips, while news of oversubscribed FII treaty auctions yest weighed. Auction of USD 10bn increase in ceiling for FII interests in restricted bonds were oversubscribed according to sources cited by Reuters. Meanwhile in another sign of deteriorating universal finances, Apr-Oct fiscal deficit stood at INR 3.1tr (USD 58.7bn) or accounting for 74% of full-year aim and higher than 43% in the comparable period last year. Separately flagging a moronic IP outcome, Oct infrastructure output eased to 0.1% y/y from 2.3% in Sep - slowest in approximately six years. Nov PMI-manufacturing and Oct trade numbers will be released shortly. RR
Selling these rallies in the euro and Aussie dollar (UUP, FXE, FXA)
In overnight trading the U.S. dollar changed cheap against the other major currencies as forex markets took a breather from yesterday's furious volatility. Even the Aussie dollar slid some 0.8% against key counterparts when Chinese manufacturing PMI details fell short of expectations.
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...Early Gains Can’t Be Maintainted as Week Finishes in the Red (F, INTC)
After breaking into the week with gains to rebuff the Dow above 12,000, supply exchanges retreated to destroy with gains. Civil distress in Egypt, as riots and protests perpetuate through the week, has liberal investors disorganized and meddlesome as the undying budgetary...
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How do you let profit run... Attitude management #FOREX
Unfair Profit Taking in Forex — Does It Work?: “Cut your losses short and let your profits run.” — Platitude…
