• Rupee strengthened against the dollar after weakness in dollar was seen against basket of currencies
• Rupee weakened yesterday on dollar demand by state run metals importing company and also demands by gold
importers. Gold importers demand will continue for the time being
• On Tuesday the US heads to the polls to vote for the next President of the USA. The latest polls data put President Obama
slightly ahead of his Republican rival Mitt Romney
• The other major political event next week is the 18th Communist Party Congress in China. This will see the beginning of
the power shift from current President Hu Jintao to a younger leader Xi Jinping
• Investors’ focus would be on the Greek vote of the additional €13.5 billion worth of spending cuts, ahead of the
discussion of the domestic budget for 2013 over the weekend
• The EUR/USD lost the 1.2800 ahead of the European opening and made a low at 1.2764 as the mixed Markit Services
PMI data were released during the morning, with uplifting Spain and Italy figures contrasting with disappointing French,
German and Eurozone data
• EU's Juncker admitted that the euro is still in crisis, with some countries facing real difficulties and others avoiding
responsibilities
• Meanwhile, the Greek Finance Minister Stournaras points to the importance of passing the austerity bill tomorrow, to
ensure the next aid tranche and avoid bankruptcy
• The Reserve Bank of India may ease monetary policy as early as January, Governor Duvvuri Subbarao said on Monday, as
price pressures ease in Asia's third-largest economy in the first part of next year on the back of slower growth
• Overall, Indian rupee is likely to take cues from the direction of dollar against major currencies in overseas market ahead
of one of the most important events in the U.S
• Rupee weakened yesterday on dollar demand by state run metals importing company and also demands by gold
importers. Gold importers demand will continue for the time being
• On Tuesday the US heads to the polls to vote for the next President of the USA. The latest polls data put President Obama
slightly ahead of his Republican rival Mitt Romney
• The other major political event next week is the 18th Communist Party Congress in China. This will see the beginning of
the power shift from current President Hu Jintao to a younger leader Xi Jinping
• Investors’ focus would be on the Greek vote of the additional €13.5 billion worth of spending cuts, ahead of the
discussion of the domestic budget for 2013 over the weekend
• The EUR/USD lost the 1.2800 ahead of the European opening and made a low at 1.2764 as the mixed Markit Services
PMI data were released during the morning, with uplifting Spain and Italy figures contrasting with disappointing French,
German and Eurozone data
• EU's Juncker admitted that the euro is still in crisis, with some countries facing real difficulties and others avoiding
responsibilities
• Meanwhile, the Greek Finance Minister Stournaras points to the importance of passing the austerity bill tomorrow, to
ensure the next aid tranche and avoid bankruptcy
• The Reserve Bank of India may ease monetary policy as early as January, Governor Duvvuri Subbarao said on Monday, as
price pressures ease in Asia's third-largest economy in the first part of next year on the back of slower growth
• Overall, Indian rupee is likely to take cues from the direction of dollar against major currencies in overseas market ahead
of one of the most important events in the U.S
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