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India Markets Weekahead - CPI in focus for FX market

Source : REUTERS
Last Updated: Fri, Aug 17, 2012 12:17 hrs
An employee uses an electronic machine to check an Indian currency note inside a bank in Allahabad

The July consumer price index due on Tuesday will be the focus for Indian bond and FX markets in a holiday-shortened week.

CPI data comes a week after the crucial wholesale price inflation data showed an unexpected fall.

Global risk factors also will be in play, with Brent crude having hit three-month highs.

Investors also expected to look at the minutes from the Federal Reserve's last meeting that ended on August 1, when the U.S. central bank disappointed by holding off on further bond purchases. Minutes are due out on Wednesday.

The benchmark 10-year bond yield is seen trading in a 8.15-8.30 percent range for the week.

The rupee is expected to hold in a 55 to 56/dollar range.

Markets will be closed for a public holiday on Monday.




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