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Archive for July, 2008

Dealers reluctant to short the greenback ahead of GDP data

- Forex: The USD traded in tight ranges, with some dealers saying they are reluctant to head into tomorrow's GDP report short USD. The consensus continues to edge up for Q2 GDP, but investors are likely to stay on the sidelines ahead of Friday's U.S. jobs data. For USD/JPY, key focus remains 108.60 on the upside. Traders said they continue to see Japanese retail investor demand for AUD/JPY, with chartists pointing out that the AUD/JPY has moved above the top of its Ichimoku cloud at 101.89

Readings: Food & energy, Treasury yields, Divestment drive

BCA Research: Food And Energy Prices: A Prolonged Correction Underway? Capital Spectator: Pondering Real Yields Remember that this gives a good sense of what our $300B+ forex reserves earn. Mint: Divestment drive may breathe life into market India’s equity capital markets could see a revival around the fourth quarter of this calendar year (October-December) if the government goes ahead with reforms as it is expected to, according to investment bankers who are looking forward to at le