India’s forex reserves rise by $2.79 billion to $309.44 billion

India’s foreign exchange reserves jumped by $2.797 billion to $309.444 billion in the week ended April 11 on the back of a healthy rise in currency assets. 

The total reserves had shot up by $2.974 billion to $306.647 billion in the previous week. 

Foreign currency assets (FCAs), a major part of the overall reserves, rose by $2.746 billion to $281.552 billion for the week ended April 11, RBI said on Friday. 

Economic Events dated 17th April 2014/valuerupee/SunilBehki

TimeCur.Imp.EventActualForecastPrevious
Thursday, April 17
All DayHolidayMexico – Holy Thursday
All DayHolidayNorway – Maundy Thursday
01:00  JPYHousehold Confidence40.238.3
02:00  EURGerman PPI (YoY)-0.7%-0.9%
02:00  EURGerman PPI (MoM)0.1%0.0%
08:00  BRLBrazilian Unemployment Rate5.4%5.1%
08:30  CADCore CPI (MoM)0.3%0.7%
08:30  CADCore CPI (YoY)1.3%1.2%
08:30  CADCPI (YoY)1.4%1.1%
08:30  CADCPI (MoM)0.4%0.8%
08:30  USDContinuing Jobless Claims2,795K2,776K
08:30  USDInitial Jobless Claims315K300K
08:30  USDJobless Claims 4-Week Avg.316.25K
10:00  USDPhiladelphia Fed Manufacturing Index10.09.0
10:00  USDPhilly Fed Business Conditions35.4
10:00  USDPhilly Fed Employment1.7
10:30  USDNatural Gas Storage34B4B
13:00  USD5-Year TIPS Auction
21:30  CNYChina House Prices (YoY)8.7%

U.S. stocks hammered by tech selloff; Dow plummets 1.62%

U.S. stocks plunged on Thursday fueled by a sell-off in the technology and biotechnology sectors, as investors viewed valuations have grown too lofty.

U.S. stocks hammered by tech selloff; Dow plummets 1.62% Stocks take a nose dive on concerns market has grown too frothy

At the close of U.S. trading, the Dow 30 fell 1.62%, the S&P 500 index fell 2.09%, while the Nasdaq fell 3.10%.

Biotech, Internet and other tech companies, bigt beneficiaries of a five-year bull market fueled in part by loose monetary policies, took a pounding on Thursday on sentiments valuations have grown too high.

Facebook shares plunged 5.21%, search-engine giant Google fell 3.59% while Apple shares fell 1.29%.

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Economic Events dated 10th April 2014

Categories Categories
TimeCur.Imp.EventActualForecastPrevious
Thursday, April 10
00:00  USDChain Store Sales (MoM)2.7%
02:00  JPYMachine Tool Orders (YoY)26.1%
02:45  EURFrench CPI (MoM)0.6%0.5%
02:45  EURFrench Industrial Production (MoM)0.3%-0.2%
Tentative  CNYChinese M2 Money Stock (YoY)13.0%13.3%
Tentative  CNYChinese New Loans1,000B645B
04:00  EURECB Monthly Report
04:00  EURItalian Industrial Production (MoM)-0.2%1.0%
04:00  EURItalian Industrial Production (YoY)0.7%1.4%
04:00  NOKNorwegian Core Inflation (MoM)0.4%0.6%
04:00  NOKNorwegian CPI (MoM)0.2%0.5%
04:00  NOKNorwegian PPI (YoY)4.0%
04:45  EURSpanish 12-Month Letras Auction0.544%
04:45  EURSpanish 6-Month Letras Auction0.366%
05:10  EURItalian 12-Month BOT Auction0.592%
07:00  GBPBoE QE Total375B375B
07:00  GBPInterest Rate Decision0.50%0.50%
08:30  CADNew Housing Price Index (MoM)0.2%0.3%
08:30  USDContinuing Jobless Claims2,850K2,836K
08:30  USDImport Price Index (MoM)0.2%0.9%
08:30  USDInitial Jobless Claims320K326K
08:30  USDJobless Claims 4-Week Avg.319.50K
09:45  USDBloomberg Consumer Confidence-30.0
10:30  USDNatural Gas Storage13B-74B
13:00  USD30-Year Bond Auction3.630%
14:00  USDFederal Budget Balance-78.0B-193.5B
18:45  NZDFPI (MoM)-1.0%
19:50  JPYCGPI (YoY)1.7%1.8%
19:50  JPYCGPI (MoM)0.1%-0.2%
19:50  JPYM2 Money Stock (YoY)3.9%4.0%
19:50  JPYMonetary Policy Meeting Minutes
21:30  CNYChinese CPI (MoM)-0.5%0.5%
21:30  CNYChinese CPI (YoY)2.5%2.0%
21:30  CNYChinese PPI (YoY)-2.2%-2.0%
23:45  JPY30-Year JGB Auction1.635%

U.S. stocks rally as Fed ditches rate hike target

U.S. stocks rallied on Wednesday after the minutes from the Federal Reserve’s March policy meeting revealed monetary authorities unanimously agreed to ditch a target it was preparing to use to raise interest rates.

U.S. stocks rally as Fed ditches rate hike target; Dow gains 1.11% Stocks applaud dovish Federal Reserve minutes

At the close of U.S. trading, the Dow 30 rose 1.11%, the S&P 500 index rose 1.09%, while the Nasdaq index rose 1.72%.

The Federal Reserve Board of Governors unanimously voted to scrap a threshold at which interest rates would rise once the unemployment rate hits 6.5%, according to the minutes of the Fed’s March policy meeting.

In the past, the Fed had indicated rates could rise when the unemployment rate hits or approaches 6.5% provided that figure accompanied a 2.5% inflation rate.

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Trend for Nifty Future dated 9th April 2014/valuerupee/SunilBehki

Categories Categories

nifty-

 Last close 6744.20

 Nifty closed up 0.70 points at 6695.05 while Nifty Future closed at 6736.70, premium of 41.65 points. FIIs bought in Cash, net buy 703.71 Crore. DIIs sold in Cash, net sell 1081.36 Crore. FIIs sold in Index Option, Stock future but bought in Index Future, net sell 758.02 Crore..!!!

 Nifty making new highs, but what is good for all those investors who bought real estate, capital goods and infrastructure stocks in 2007. How would it matter to them whether Nifty is at a new high or not? Their wealth, which got destroyed in the last six years, has not been even half recovered, though Nifty has scaled new highs.

Guys just shut ears to the media hype on Nifty touching a new high every day. Trade with high caution now…!!! Now whether the number is 6800 or 7000, there is no point in guessing it. Traders put a trailing stop loss on their long trades.

On the lower side as long as 6609 remain intact this rally will going to last, if breaks and close below will show first major sign of weakness.

Economic Events dated 9th April 2014/valuerupee/SunilBehki

TimeCur.Imp.EventActualForecastPrevious
Wednesday, April 9
02:00  EURGerman Trade Balance17.8B17.2B
02:00  JPYBoJ Monthly Report
04:30  GBPTrade Balance-9.20B-9.79B
05:35  EURGerman 2-Year Schatz Auction0.150%
07:00  USDMBA 30-Year Mortgage Rate4.56%
07:00  USDMBA Mortgage Applications (WoW)-1.2%
08:00  BRLBrazilian CPI (YoY)6.08%5.68%
09:00  MXNMexican CPI (YoY)3.79%4.23%
10:00  USDWholesale Inventories (MoM)0.5%0.6%
10:30  USDCrude Oil Inventories1.329M-2.379M
10:30  USDEIA Weekly Distillates Stocks-0.086M0.554M
10:30  USDGasoline Inventories-0.729M-1.574M
11:30  BRLBrazilian Foreign Exchange Flows2.73B
13:00  USD10-Year Note Auction2.729%
14:00  USDFOMC Meeting Minutes
15:30  USDChicago Fed President Evans Speaks
17:00  KRWSouth Korean Exports (YoY)-3.60%
17:00  KRWSouth Korean Imports (YoY)-4.80%
18:30  NZDBusiness NZ PMI56.2
19:00  USDFOMC Member Tarullo Speaks
19:01  GBPRICS House Price Balance44%45%
19:50  JPYBank Lending (YoY)2.2%
19:50  JPYCore Machinery Orders (YoY)17.6%23.6%
19:50  JPYCore Machinery Orders (MoM)-3.0%13.4%
19:50  JPYForeign Bonds Buying-763.6B
Tentative  SGDSingaporean GDP (YoY)5.3%5.5%
Tentative  SGDSingaporean GDP (QoQ)0.2%6.1%
21:00  AUDMI Inflation Expectations2.1%
21:00  KRWSouth Korean Interest Rate Decision2.50%2.50%
21:30  AUDEmployment Change5.0K47.3K
21:30  AUDFull Employment Change80.5K
21:30  AUDParticipation Rate64.7%64.8%
21:30  AUDUnemployment Rate6.0%6.0%
22:00  CNYChinese Exports (YoY)4.0%-18.1%
22:00  CNYChinese Imports (YoY)2.4%10.1%
22:00  CNYChinese Trade Balance0.90B-22.98B
22:00  IDRIndonesian Retail Sales28.40%

Trend for Nifty Future dated 7th April 2014/valuerupee/SunilBehki

Categories Categories

nifty-futu

 Last close 6744.20

 Nifty closed down 41.75 points at 6694.35 while Nifty future closed at 6744.20, premium of 49.85 points. FIIs bought in Cash, net buy 232.46 Crore while DIIs sold big chunk, net sell 1125.06 Crore. FIIs sold in Index Future, Stock future but bought in Index Option, net sell 929.45 Crore..!!!

 Nifty making new high on daily basis, but what is good for all those investors who bought real estate, capital goods and infrastructure stocks in 2007. How would it matter to them whether Nifty is at a new high or not? Their wealth, which got destroyed in the last six years, has not been even half recovered, though Nifty has scaled new highs.

Guys just shut ears to the media hype on Nifty touching a new high every day. Trade with high caution now…!!! Now whether the number is 6800 or 7000, there is no point in guessing it. Traders put a trailing stop loss on their long trades.

On the lower side as long as 6609 remain intact this rally will going to last, if breaks and close below will show first major sign of weakness.