The Indian rupee strengthened to an 11-month high

The Indian rupee strengthened to an 11-month high on Monday, gaining for a fourth consecutive session as strong foreign inflows led domestic equities to record closing highs after the election of a new government to be led by Narendra Modi. However, continued central bank dollar-buying capped broader gains, with traders expecting the Reserve Bank of India to continue stepping in as it looks to build up its foreign exchange reserves. Data on Friday showed India's dollar reserves surged to a more than two-year high of $313.83 billion for the week to May 9, the highest since Nov. 11, 2011.

 Today’s Headlines

1) Gold Climbs on Speculation of India Relaxing Import Restrictions
2) India’s Rupee Advances to 11-Month High After BJP Wins Majority
3) Yen Rises to 3-Month High versus Dollar on Risk Aversion
4) Pound Falls versus Euro as Carney Warns of Housing Risks
5) Kenyan Shilling Slumps on Concern Attacks May Cut Tourism

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

Ruble Drops Before Russia Reacts to East Ukraine Secession Votes!

The Indian rupee fell slightly on Monday, retreating from a nearly 10-month high hit earlier in the session, on the back of suspected heavy dollar buying by the central bank ahead of exit polls due out later in the day. Initial gains in the rupee tracked a rally in Indian shares to record highs on widespread hopes that those projections would show the Bharatiya Janata Party and its allies winning a majority in the elections, given the opposition is seen by markets as being more investor friendly. The partially convertible rupee closed at 60.05/06 per dollar compared with 60.02/03 on Friday. The unit gained to as high as 59.51.

Today’s Headlines

1) Asian Euro Near One-Month Low as Citigroup Predicts Drop; Pound Gains
2) Japanese Dump Most Euro Bonds on Record Amid Ukraine Tension
3) Draghi Drives ECB Toward Stimulus Even as Economy Grows
4) Ruble Drops Before Russia Reacts to East Ukraine Secession Votes

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India’s Rupee Advances to One-Month High after U.S. Jobs Report!

The Indian rupee snapped a three-day rise and retreated from a near one-month high hit early on Monday as heavy dollar demand from oil refiners hurt while sentiment was also cautious ahead of the conclusion of general elections next week. Although the rupee has been helped by continued foreign inflows into equities, which helped the currency gain in each of the previous three sessions, overseas investors have turned sellers in index futures totaling 2.43 billion rupees over the five previous sessions until Friday. The one-month implied volatility in the spot rupee stood at 11.3 percent, not far from 12.2 percent hit on April 28, which was its highest since mid-November.

Today’s Headlines

1) India’s Rupee Advances to One-Month High after U.S. Jobs Report
2) Yen Climbs after China Data as Kuroda Touts Recovery
3) EU Cuts Euro-Area Growth Outlook as Inflation Seen Slower
4) Fed’s Fisher Says Economy Strengthening as Payrolls Rise
5) Pound Climbs to 4-Year High on U.K.’s Resurgent Economic Growth

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Indian rupee rallied to an eight-month high!

The Indian rupee rallied to an eight-month high, boosted by continued foreign fund inflows into domestic shares, but suspected dollar purchases by the central bank prevented the currency from gaining much further. The RBI has long been expected to start buying dollars when the rupee strengthens to add to foreign exchange reserves of $297.29 billion-the highest since late December 2011. The central bank's Dollar purchases would reflect the strength of a rupee rally. The RBI had to regularly buy the domestic currency just about half a year ago to keep it from hitting record lows.

Today’s Headlines

1) India’s Rupee Climbs to Eight-Month High on Election Optimism
2) Aussie Rises to 4-Month High; Franc Falls
3) Pound Advances against Euro as Weale Says Rates Should Increase
4) Gold Trades above Five-Week Low as Ukraine, Weighed

Read detail analysis report: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

Yen Falls as IMF Sees Global Growth Improving!

The Indian rupee ended Monday at its highest closing level against the dollar in nearly eight months as continued foreign inflows sent shares to record highs, although further gains in the currency were capped by strong demand from oil firms. Traders said gains in other Asian units also underpinned sentiment for the rupee after the Yuan rebounded from its 13-month low. The partially convertible rupee closed at 60.77/78 per dollar compared with 60.8950/9050 on Friday, marking its strongest close against the dollar since Aug. 1. The unit rose as high as 60.6450 intra-days, its strongest since March 11.

Today’s Headlines

1) Yen Falls as IMF Sees Global Growth Improving.
2) Gold Falls on Fed as Palladium Reaches Highest Since 2011
3) Yuan Jumps Most Since October 2011 as PBOC Strengthens Fixing
4) Aussie Extends Gain as Traders Hold Rate Bets After China PMI

Read detail analysis report: - http://rrfcl.weebly.com/1/post/2014/03/-yen-falls-as-imf-sees-global-growth-improving.html