New direction to the markets?
13 years ago
Thursday, August 2, 2007
USD INR 2nd August 2007
Should open near the 40.42-40.45 mark. May see a high of 40.49 or roundabouts and a low nearing 40.35. Not much fluctuations expected.
02-Aug-2007
As I had told yesterday in my main blog of the day and I quote
"No, I dont believe the Yen would make a further dent on the 119.00 mark with any conviction, if any. It should be playing more in the 118.20-118.60 range for most parts while Japan is on work. Though expect a few fireworks by evening (Yen weakening I mean) when Japan also will be celebrating the Worlds biggest firework display at Tondabayashi, Osaka".
Unquote.
Also refer my next quote
"Expect the Yen to strengthen just a little more, the 117 range to be more specific"
The currency lived up to it literally. It first played in the 118.20 to 118.60 range for most parts and then broke down below 118.00 staying there for a good while before weakening again in the evening while the Tondabayashi pyrotechnics(Fireworks) were on. It briefly scaled up above the 119 mark but has since come back in the 118 range.
Expect the Yen to remain in the 118.40 to 118.80 range for the day. Though it may move upto 118.85 for brief spells. The lower cap should be 118.15 which might be hard to break and if broken, the next stop should be 117.78 followed by 117.15, though I dont believe 117.15 is scalable before tommorow evening. The upper cap is 119.24 and I have doubts on the Yen moving towards it.
"No, I dont believe the Yen would make a further dent on the 119.00 mark with any conviction, if any. It should be playing more in the 118.20-118.60 range for most parts while Japan is on work. Though expect a few fireworks by evening (Yen weakening I mean) when Japan also will be celebrating the Worlds biggest firework display at Tondabayashi, Osaka".
Unquote.
Also refer my next quote
"Expect the Yen to strengthen just a little more, the 117 range to be more specific"
The currency lived up to it literally. It first played in the 118.20 to 118.60 range for most parts and then broke down below 118.00 staying there for a good while before weakening again in the evening while the Tondabayashi pyrotechnics(Fireworks) were on. It briefly scaled up above the 119 mark but has since come back in the 118 range.
Expect the Yen to remain in the 118.40 to 118.80 range for the day. Though it may move upto 118.85 for brief spells. The lower cap should be 118.15 which might be hard to break and if broken, the next stop should be 117.78 followed by 117.15, though I dont believe 117.15 is scalable before tommorow evening. The upper cap is 119.24 and I have doubts on the Yen moving towards it.
Wednesday, August 1, 2007
USD INR 1st August 2007
Should open near the 40.42-40.45 mark. May see a high of 40.52 or roundabouts and a low nearing 40.35. Not much fluctuations expected.
Wanna Take a bet ?
Expect the Yen to strengthen just a little more, the 117 range to be more specific. I see the Yen as being stable in this zone in the coming 6-8 weeks. And yes, you never know, it may show up just in a day or two if what has been happening in the last few days is anything to go by. If that happens this week, then expect to see the 116 range too with much ease, though I believe that the yen stability is there in the 117 range only.
Its a strange world.
The U.S. core personal consumption expenditure index, the inflation gauge most closely watched by Federal Reserve policymakers, was at 0.1 percent last month against market expectations of a rise of 0.2 percent. Still not bad though. But it indeed is a strange world. The Euro strengthened a bit further while the Yen fell to nearly 119.50. But then semblence reappeared and it is back in the 118's as of now. Traders say the yen was inversely tracking the fortunes of stock prices, which fell after mortgage lender American Home Mortgage Investment Corp. said it could not fund home loans and may have to liquidate assets.
Expect another round of shake off what with the Yen firm on its wicket near the 118.50 mark today after a rocking yesterday. There should be little cause of concern for those running short on the yen but as all wise men would tell you in these times of the Great Carry Trade Caravan, keep your ears and eyes open. Not that I am trying to frighten you. No, I dont believe the Yen would make a further dent on the 119.00 mark with any conviction, if any. It should be playing more in the 118.20-118.60 range for most parts while Japan is on work. Though expect a few fireworks by evening (Yen weakening I mean) when Japan also will be celebrating the Worlds biggest firework display at Tondabayashi, Osaka prefecture. I am going there to witness around 100,000 plus fireworks being displayed in just under One hour!!!
Expect another round of shake off what with the Yen firm on its wicket near the 118.50 mark today after a rocking yesterday. There should be little cause of concern for those running short on the yen but as all wise men would tell you in these times of the Great Carry Trade Caravan, keep your ears and eyes open. Not that I am trying to frighten you. No, I dont believe the Yen would make a further dent on the 119.00 mark with any conviction, if any. It should be playing more in the 118.20-118.60 range for most parts while Japan is on work. Though expect a few fireworks by evening (Yen weakening I mean) when Japan also will be celebrating the Worlds biggest firework display at Tondabayashi, Osaka prefecture. I am going there to witness around 100,000 plus fireworks being displayed in just under One hour!!!
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