Boby Michael

All the measures of consumer price inflation released surprised markets on the higher side in a big way.

Moody's cited stabilisation in the country's external liquidity position for outlook upgrade, but kept Pakistan's rating at Caa1 citing large fiscal imbalances and weak debt metrics.

The WPI index for June rose 5.43% while the market had been expecting a rise of 5.8-6.0%.

Precious metals declined on Monday as fears that the funding issues at Banco Espirito Santo might spill over into the wider Eurozone banking system eased.

The Canadian dollar's sharper gains after the June policy will increase risks of a more dovish bias at the BoC on 16 July, and a growth-focused US Fed underpins that case.

Global markets are now waiting for fresh interest rate cues from major central banks, making the upcoming week a significant one.

Gold hovers at three-and-a-half month high thanks to the funding crisis at the Portuguese Bank Espirito Santo.

Fitch and Moody's Investors Service say they are happy with the fiscal and growth targets in budget.

A lack of specific measures in budget means reversal of fiscal and economic weakness will be slow.

Prime Minister Narendra Modi's maiden budget was expected to announce major reform measures but the document didn't meet such expectations, analysts said.

Import tax on gold remains at record-high 10%.

Rupee opens slightly firmer at 59.69/dollar on hopes that the budget will boost outlook for foreign inflows.

USD/INR had fallen 0.3% on Tuesday as the railway budget proposed more foreign direct investment into infrastructure development.

China's June CPI came in at 2.3% year-on-year from 2.5% in May and compared with the consensus of 2.4%. The PPI declined 1.1% while analysts had been expecting a 1% drop.

Spot silver has performed the best against the US dollar compared to gold and major currencies while palladium has rallied to a new 13-year high.

Continued increase in the buy-side speculative positioning in Sterling underpins the case for a stronger reversal in it unless there is an even more hawkish central bank to support.

USD/CAD had been trading higher since 3 July despite the better than expected trade and building permits data released since then.

For Mark Carney, BoE policy review provides an opportunity to clarify present situation or future.

Palladium rallies most in group, ending week 2.65% higher while platinum strengthens 1.63%, silver 0.91% and gold 0.26%.

US dollar index shrugs off recent dovish rhetoric by Fed officials and rallies to a one-week high in the week to 4 July

Gold reverses previous day's losses after US jobs data reflecting yellow metal's inherent strength.

German economic data in the week to 4 July generally surprised on the downside.

Rally in recent weeks and steadily increasing buyside speculative positions in GBP raise reversal risks

Weak monsoon so far this year and dim forecasts increase inflation and growth concerns in India.

Governor Glenn Stevens says at 94 US cents to dollar, Australia's current exchange rate far too high.

Euro fell across the board on Wednesday as data from Italy and Germany surprised on the downside and strong numbers from the UK drove it to a new multi-year low.

With the recent price moves, the metal has shaped a flag pattern and is now testing resistance at $1334.50.

The near 4% rally of USD/INR since 22 May failed below 60.91, a main Fibonacci level. Also, a bearish signal has been triggered for the pair by the MACD on the daily chart.

Forex markets have already got many indications that the Federal Reserve is not in hurry to hike rates, but negative surprise in the jobs data prints will deepen the recent slide in the dollar.