In an interview with CNBC-TV18, Chairman and MD of Sharda Cropchem, RV Bubna said that if the fluctuation in Euro-dollar continues, it could impact the company‘s topline growth adversely.
David Forrester, senior vice president of G-10 forex strategy at Macquarie expects further weakness for the dollar index.
Divergence among developed markets is the next theme, with the gap between US and European growth likely to remain wide and even widen on an annual average basis, it said.
In an interview to CNBC-TV18, Jurgen Michels of Citi expressed his views on Greece debt deal. The discussion continued on whether this deal will be successful in resolving the nation‘s long-term debt troubles or not an.
Dhiren Sarin of Barclays believes Indian equities have further upside potential if yields in the euro area remain low.
Partho Mukherjee of Axis Bank tells CNBC-TV18 that the Reserve Bank has very few or limited options at its disposal to defend the rupee.
Amrita Sen of Barclays Capital tells CNBC-TV18 that there may be more headwinds for Brent crude which could further pull down prices in the near-term.
Adam Cole, global head of forex strategy at RBC Capital Markets, says that if ECB’s long term refinance operations figure comes in above market expectations, it will add fuel to the rally in global assets.
According to Nomura’s Craig Chan, the liquidity infusion from the ECB has significantly reduced credit risks and has eased the pressure on the rupee.
The battered Indian rupee hit a record low against the US dollar on Tuesday. The rupee opened at 53.53 per dollar versus 53.23 yesterday. Moses Harding of IndusInd Bank feels the rupee weakness was not a surprise, but at the pace at which it fell from Rs 44 to Rs 54 levels in just five-six trading days is very worrying.
According to Olivier Desbarres of Barclays Capital, the rupee could continue to outperform its Asian peers even with the measures taken by the RBI.
The negativity has spread not just in India, but across the world. On the currency front, the rupee weakened to its lowest level in more than 16 months due to global dollar strength. CNBC-TV18's Latha Venkatesh reports on what would this mean for exports in the economy.
Gold rose back above USD 1,500 an ounce in Europe on Tuesday, recovering in line with oil prices as expectations that Greece's debt crisis may be contained tempered risk aversion, and as the euro regained some ground.