QUOTE: A good head and a good heart are always a formidable combination.
MARKET PULSE
EU creditors want 50b euros in collateral & tough reforms passed by Wed
EU demands could cause “political meltdown” in Athens
Pantheon says in note; Bild says Tsipras eyeing deal, then new elections
Treasury futures surge at Asia open; 10yr yield was up 8 bps
S&P 500 rallied 1.2%
Fed’s Yellen maintained her call for a 2015 rate increase on Friday
Chinese Premier Li said govt will step up measures to prevent systemic risk
China’s exports are forecast to grow for first time in 4 months
Iran nuclear deal that could be announced as soon as today
India May industrial production rises 2.7% Y/y; Misses est. +4% as consumer goods fall
Monsoon rainfall 2% below normal as of July 10
India FX reserves -$704m to $354.5b in week to July 3: RBI
Indian Labor unions to go on nation-wide strike Sept. 2
India-June indirect tax collections raise 33.3% y/y
India Monsoon likely to be better than last year: FM Jaitley
INDIAN INR
MARKETS
INR trading .06 points down at 63.4637
USD/INR: pivot 63.3996; support 63.3254; resistance 63.4742
EUR/INR: pivot 70.7525; support 70.4145; resistance 71.2609
USD/INR: 14-day RSI 42.5451
1-Month USD/INR NDF at 63.58
3-Month USD/INR NDF 64.19
Sensex +0.32%; 14-day RSI 51.3
MSCI Asia Pacific Index +0.8%
SGX CNX Nifty future for July contracts +0.2% to 8,388.5
FACTORS
India May industrial production rises 2.7% Y/y; Misses est. +4% as consumer goods fall
Monsoon rainfall 2% below normal as of July 10
FX reserves -$704m to $354.5b in week to July 3: RBI
Global fund sold 4.65 b rupees of Indian stocks
Indian Labor unions to go on nation-wide strike Sept. 2
Tribunal allows Factorial Fund access to Indian markets: BSE
India-June indirect tax collections raise 33.3% y/y
India Monsoon likely to be better than last year: Jaitley
FOREIGN EXCHANGE
MARKETS
The euro declined 0.2 % to $1.1136 dipping as low as $1.1089.
Euro weakened 0.3 % to 136.58 yen
Yen rose 0.1 % to 122.66 per dollar after earlier climbing by 0.7 %
The AUD depreciated 0.1 % to 74.36 U.S
EUR/USD 3 month volatility was at 11.24 %
FACTORS
EU creditors want 50b euros in collateral & tough reforms passed by Wed
The demands could cause “political meltdown” in Athens
Pantheon says in note; Bild says Tsipras eyeing deal, then new elections
Treasury futures surge at Asia open; 10yr yield was up 8 bps
S&P 500 rallied 1.2%
Fed’s Yellen maintained her call for a 2015 rate increase on Friday
Chinese Premier Li said govt will step up measures to prevent systemic risk
China’s exports are forecast to grow for first time in 4 months
Iran nuclear deal that could be announced as soon as today
GOLD
MARKETS
Gold spot fell 0.3 % to $1,160.85 was trading at $1,161.59
Gold rose in the 3 days to Friday, it still ended last week lower for a 3rd weekly drop
Gold declined 1.9 % this year
Gold Futures August rose 0.3 % to $1,161
Gold in China fell as much as 0.3 % to 232 yuan a gram ($1,162.11) on SGE
Spot silver fell 0.1 % to $15.5657 after three days of gains
FACTORS
Chair Janet Yellen on Friday maintained her call for a rate rise this year
Greece was given three days to enact reforms
Dollar Spot Index rose 0.1 % on Monday and is 5.2 % higher this year
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