Debt/FX markets await OMO next week

Reuters Market Eye - The Indian bond market will await an OMO announcement for next week as cash is expected to tighten further due to advance tax payments in mid-March.

Bonds, which have sold off after the higher-than-expected gross borrowing numbers for 2013/14, will await any comments from the government on the buyback schedule and papers to be bought.

Focus will now shift to the Reserve Bank of India (RBI) policy on March 19 and the factory, inflation data before that for cues.

USD/INR likely to trade in a 54-55.10 range next week, while the 10-year bond yield is likely to be in a 7.85-7.95 pct band.

A host of central banks including ECB, BOJ, BoE and RBA meet next week on policy.

KEY FACTORS/EVENTS TO WATCH

Tues: Feb Services PMI at 10.30 am

Wed: Money Supply data at 3.00 pm

Fri: Foreign exchange reserves data to be released at 5.00 pm

(Reporting by Subhadip Sircar)


Updated Date: Mar 02, 2013 10:15 AM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent