CFTC: Speculators More Bullish on Stocks, Gold, Oil, Japanese Yen, CAD
The brokerage believes positive earnings surprise is unlikely, given the sharp appreciation of Japanese yen against Indian rupee and capacity constraints.
RC Bhargava, Chairman, Maruti Suzuki is not overly worried about the impact of stronger yen because the company has reduced its dependence on yen in the last two quarters, adding that for all the new models the royalty is also rupee denominated.
However, Yen is holding up quite well in the current environment, but concerns loom over Japan if it becomes too strong that will eventually give rise to intervention in the currency, says Paul Mackel of HSBC in an interview to CNBC-TV18.
The Indian rupee has started off last day of the week on a positive note, rising to 66.48 a dollar compared to 66.52 per dollar in previous session.
In last three months, Maruti shares lost 15 percent. Analysts say every 10 percent appreciation in yen have 200 basis points negative impact on company margins.
CLSA likes Maruti on a 2-3-year view given its strong franchise, product cycle and likelihood of a strong demand revival but expects modest stock returns on a 12-month view.
The Carriage by Air (Amendment) Bill was passed in Lok Sabha on December 2015 and by the Rajya Sabha, with certain amendments, on March 2.
Hartmut Issel, Head Equity & Credit APAC, Chief Investment Office WM, UBS speaking about the turmoil seen in global markets said he is not sure if the market is reading all the fundamentals rightly.
Asian markets were trading mixed, taking a cue from the late pull back on Wall Street. Nikkei was trading with gains, though the index has lost 10 percent in 2016 and is down 20 percent from its June 2015 highs.
The report on the KCNA website came within hours of reports from various agencies that a large earthquake had been detected near a known North Korean nuclear test site.
The Japanese currency strengthened 0.1 percent to 122.44 per dollar in early Asian trading, after rising 0.4 percent last week. The euro weakened 0.5 percent at 131.23 against the yen, falling below the support levels at mid-131.
Japan's Nikkei 225 fell in early trade, with a stronger local currency taking a toll on export-oriented plays.
The rupee resumed lower at 63.58 per dollar as against yesterday's level of 63.52 at the Interbank Foreign Exchange (Forex) Market.
The rupee resumed steady at yesterday's closing level of 63.70 at the Interbank Foreign Exchange (Forex) market. However, it failed to maintain initial gains and was quoted at 63.72 per dollar at 1040 hours on bouts of dollar demand.
Japanese stocks gained ground on Friday as a weaker yen helped exporter stocks, while falling oil prices were seen as likely to stimulate global demand, supporting investor sentiment.
Emkay's latest assessment of EM currencies highlights conspicuous misalignment against the backdrop of generalized dollar strengthening -- a situation that can induce renewed volatility in EMs
Revenue is seen going up by 17 percent to Rs 12,242 crore in the second quarter of current financial year 2014-15 from Rs 10,468.1 crore in the year-ago period driven by higher sales volumes.
The yen`s near-term outlook hinges on the direction of the US dollar, say analysts, who expect further downside in the Japanese currency.
Maruti Suzuki India (MSI) Chairman R C Bhargava said the company enhancing its research and development capabilities and playing greater role in joint product development with Suzuki, the royalty payout will also decrease.
Technically, the dollar-yen pair is in a clear uptrend. After breaching the symmetrical triangle on the upside, the pair has been consistently moving northwards. A sustained closing above 103.70 will lead the pair higher towards 105 levels.
IBM Corp , the world's largest technology services company, reported an increase in first-quarter earnings, but missed estimates due to the depreciation of the Japanese yen.
Nirmal Bang has come out with its report on Japanese Yen. According to the research firm, the new governor of Bank of Japan (BoJ) will deliver by enhancing asset purchase program, albeit at a slower pace; the yen valuations could be a constraint on any significant fall in Q2 2013.
Nirmal Bang has come out with its report on currency quarterly outlook. According to the research firm, the rise in inflationary expectations on onset of QEIII is likely to push the US benchmark note yields higher which is likely to favor dollar against the Japanese Yen.
The US Dollar Index is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies. Generally dollar index goes up when US Dollar gains against other currencies. It a indication of US Economic activity or any other activity which can strengthen or weaken US dollar.