There is no sign China and resultant slowdown being discounted as yet, says Nick Parsons of National Australia Bank.
The range today for rupee is seen between 66.15-66.45/dollar, says NS Venkatesh of IDBI Bank.
Micheal Every of Rabobank expects the US non-farm payroll data to come in at 217,000 in August versus 215,000 In July.
This time the culprit was not Greece but China, as it unexpectedly devalued its currency and pulled several about-faces on whether it was letting the yuan float freely and whether it was propping up blue chip stocks.
Fears over the health of the Chinese economy kept world markets on edge last week and China country will remain in focus, along with the question of whether the Federal Reserve will raise interest rates next month.
Addressing the famous Jackson Hole economic symposium of the Kansas City Federal Reserve in Wyoming, Rajan said politics and history both have been important forces in determining the economic policymakers' goals and tactics globally.
Five years later, after the biggest bailout in the fund's history, Greece failed to make a USD 1.7 billion payment as required at the end of June â€“ the first advanced economy ever to default on the IMF. Worse, after having received more than 240 billion euros in international aid, Greece economy is still in tatters.
Markets across the globe have been taken for a ride this week, with the Dow Jones industrial average having traveled more than 10,000 points ahead of Friday's open amid global growth concerns.
El-Erian told CNBC on Sunday that what markets needed to stabilize was positive economic news or announcements of further stimulusâ€”not from the Federal Reserve or the European Central Bank, but the emerging world.
The country, which represents the "S" in "PIIGS," a term coined as a catch-all for Europe's most troubled economies, is growing at its fastest pace in seven yearsâ€”3.1 percent in the second quarter. Of the other PIIGSâ€”Portugal, Italy, Ireland and Greeceâ€”only Ireland is growing faster.
The repayment to the European Central Bank marked another step for Greece away from near financial collapse, but Prime Minister Alexis Tsipras must now tackle a political crisis after anti-bailout rebels robbed his government of its parliamentary majority.
Greece received the first tranche of funds from its new bailout loan on Thursday after the European Stability Mechanism approved a rescue of up to 86 billion euros on Wednesday.
The Bundestag vote cleared one of the final obstacles to Greece getting funding so that it can make a 3.2 billion-euro debt repayment to the European Central Bank on Thursday.
After lawmakers bickered through the night on procedural matters, Tsipras comfortably won the vote on the country's third financial rescue by foreign creditors in five years thanks to support from pro-euro opposition parties. That clears the way for euro zone ministers to approve the deal later on Friday.
The vote was held after daybreak on Friday after lawmakers bickered through the night over procedural matters. Euro zone finance ministers are expected to approve the vital aid for Athens later on Friday.
The news came as a rare ray of light for the debt-swamped eurozone country, as its parliament prepares to vote today on a new 85 billion euro (USD 94 billion) bailout deal with international creditors - its third rescue plan in half a decade.
Stocks fell in Asia and Europe as investors worried about the implications of a move designed to support China's slowing economy and exports.
The indebted country is hoping to wrap up a deal for 86 billion euros (USD 94.75 billion) in fresh loans so it can get parliamentary and other approvals for aid to flow by Aug. 20, when a 3.2 billion euro debt payment is due to the ECB.
The Greek official told Reuters that the budget agreement targeted a primary deficit of 0.25 percent of gross domestic product in 2015, improving to a 0.5 percent surplus in 2016, a 1.75 percent surplus in 2017 and a 3.15 percent surplus in 2018.
Greece's finance and economy ministers were locked in negotiations with representatives of creditors on Sunday, which stretched until the early hours of Monday.
Athens is racing to wrap up the bailout agreement of as much as 86 billion euros by as early as Tuesday in a bid to get the first disbursement of aid by August 20, when it faces a debt payment to the European Central Bank.
Commission spokeswoman Mina Andreeva said today that Greece and the lenders are hoping to stick to an "ambitious yet possible timetable" to finalise the agreement in time for a major Greek debt repayment on August 20.
Greece needs a deal that will unlock bailout funds by August 20, when it must repay some 3.4 billion euros (USD 3.7 billion) due to the European Central Bank.
"The first phase of negotiations ends today and the second phase starts, which really contains the details of drafting (the deal)," Gerovasili told Skai TV station.
The Athens stock exchange was trading around 19 percent lower by mid-morning on Monday, after falling nearly 23 percent after it reopened for the first time in five weeks.