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Market Eye Week Ahead: Global cues key for India debt as 2013 closes

Dec 27 2013, 19:29 IST
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SummaryThe key trigger will remain the proposal for a change in the monetary policy framework due by end of Dec.

India's debt and foreign exchange markets will closely monitor global developments next week as trading is likely to remain thin towards the end of 2013.

The key trigger will remain the proposal for a change in the monetary policy framework in India due by the end of December.

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The report is expected to delve into which inflation indicator should be the focus of the monetary policy, the objectives for the central bank, and its liquidity management, among other factors. It, however, may not have immediate market impact.

The benchmark 10-year bond yield is expected to take cues from the U.S. treasury prices in the absence of any key domestic triggers.

The partially convertible rupee is seen moving in a 61.50 to 62.60 per dollar range next week, traders said.

Foreign fund inflows into the domestic share and debt markets, which have reached more than $3.5 billion so far in December, have been a key support for the rupee and debt prices and will remain crucial for further direction.

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