US dollar has been in demand for last many trading sessions led by the strong economic growth in US, the data that were released last week were full of positive surprises. Non-farming payroll added about 175k (approx.) jobs, which was much better than expected number, also consumer confidence in the US economy has increased. Here are some of the reasons why I am seeing USD to be ... [Continue Reading]
Petrol Price Hiked by Rs.7.50 per liter, Diesel no change
Today the Oil marketing companies such as HPCL, BPCL and IOC has hiked petrol price by Rs.6.28 per liter, which will become effective from midnight 24-05-2012 i.e from Thursday, when included sales tax price hike stands at Rs.7.50 per liter. We were already highlighting this in our previous articles, as Indian rupee has been continuously falling against the US dollar, hence making the import cost ... [Continue Reading]
Why is USD Strong across the Globe, Strong USD Responsible for Panic Selling by FII
FII are selling from last 6 months, USD has been showing strength across the board. Panic selling by FII can be justified by strong USD, as most of these foreign players hold portfolios in USD and index they track for nifty stocks is NSE defty index. This index is simple conversion of USD asset to present INR asset, so for foreign players it’s quite common to keep track on USD investments. ... [Continue Reading]
How strong growth in US is bad for Nifty Future
US economy was growing with its fastest pace since 2008, we have seen Dow Jones Industrial Average and S&P500 index making fresh 52week high. This good news is not really good for India, as we see US Dollar was gaining strength across all other currencies. This impact was seen in Indian rupee INR, due to strong US dollar there was weakness in Indian rupee. Weakness was a bigger one as we saw, ... [Continue Reading]
How FII’s are losing more than Domestic investors, Nifty future made new low today
Panic selling is coming from FII as they are losing more than domestic investors, if this continues we will see more downside from current levels. Most of the FII track their asset in terms of USD and strength is USD across globe is creating extreme pressure in our economy, FII are now liquidating their positions and buying USD to take the advantage of strong USD. If you compare nifty future with ... [Continue Reading]