US Fed's FOMC Minutes today after best housing data in 8 years

[Raam]

TIME TELLS: US Fed's FOMC Minutes today after best housing data in 8 years

QUOTE: Long term vision is the luxury of "Profit", Striving for break-even is the necessity of "Loss"

MARKET PULSE Shanghai Composite index fell 6% yesterday extended decline today OEC-The yen is 18 % undervalued based on purchasing power parity Today release of US Fed's FOMC minutes of July 28-29 meeting US -New homes under construction rose to their highest level since 2007 US- Unexpected decline in the number of new housing permits Today: Euro-zone construction output Euro-area finance officials hold call on Greek loan Germany's parliament is expected to support Greece's bailout ECB reduces maximum Greek bank aid as bailout eases cash tension Ukraine's IMF aid offers no panacea for currency after 61% decline South African rand's at a 14-year low Vietnam's central bank devalues dong for 3rd time in 2015 Indian Govt focusing on reforms to accelerate economic growth, junior FM Sinha says Indian PM Modi vows $19b for Indian state before Nov. elections Goldman Sachs sees USD/INR at 64.5, 65.0 and 65.0 in 3-, 6- & 12-months India CPI eased to an 8M low of 3.78 % in July India Factory output has grown an average 1.6 % each month since January 2013 India FM - Need to focus on the manufacturing sector to boost growth to 8 % India FM-Completed framing bankruptcy rules and will unveil them "anytime soon INR MARKETS INR drops 0.1% to 65.3800 per USD 1-month implied volatility falls 9 bps at 7.8625%; average for past 12Mis 6.6861% INR 1-month forwards drop 0.1% to 65.80 per USD USD/INR Pivot point at 65.2779 USD/INR support at 65.1795, 65.0466 and 64.8153 USD/INR resistance at 65.4108, 65.5092 and 65.7405 USD/INR MACD above signal line, both rising FACTORS Indian Central Bank urged to ease rates as FM says inflation curbed Global investors added net $70.8m of Indian stocks on Aug. 14 Indian Govt focusing on reforms to accelerate economic growth, junior FM Sinha says Indian PM Modi vows $19b for Indian state before Nov. elections Goldman Sachs sees USD/INR at 64.5, 65.0 and 65.0 in 3-, 6- and 12-months India CPI eased to an 8M low of 3.78 % in July India Factory output has grown an average 1.6 % each month since January 2013 India FM - Need to focus on the manufacturing sector to boost growth to 8 % India FM-Completed framing bankruptcy rules and will unveil them "anytime soon FOREIGN EXCHANGE MARKETS USD/JPY -0.13% at 124.25 (range 124.25-124.43) EUR/USD +0.18% at 1.1044 (range 1.1022-1.1053) AUD/USD -0.19% at 0.7327 (range 0.7314-0.7346) USD/CAD -0.01% at 1.3058 (range 1.3040-1.3062) GBP/USD +0.05% at 1.5669 (range 1.5656-1.5678) USD/CHF -0.04% at 0.9768 (range 0.9766-0.9779) FACTORS Shanghai Composite index fell 6% yesterday extended decline today Today release of US Fed's FOMC minutes of July 28-29 meeting US -New homes under construction rose to their highest level since 2007 US- Unexpected decline in the number of new housing permits Today: Euro-zone construction output Euro-area finance officials hold call on Greek loan Germany's parliament is expected to support Greece's bailout ECB reduces maximum Greek bank aid as bailout eases cash tension Ukraine's IMF aid offers no panacea for currency after 61% decline South African rand's at a 14-year low Vietnam's central bank devalues dong for 3rd time in 2015 OEC-The yen is 18 % undervalued based on purchasing power parity GOLD MARKETS Gold spot traded at $1,117.95 in Asia from $1,117.71 on Tuesday Gold futures Dec. flat at $1,117.20 Silver spot rose 0.2 % to $14.9176 after falling 3 % at the close on Tuesday. FACTORS Release of Federal Reserve minutes today U.S. housing starts boosted the case for a rise. U.S. new-home construction in July reached a 8 year high