Late Morning Trading Strategies India August 22, 2012

Oil has been enjoying the weakness of the dollar and still going strong at above 5400. Agri commodities have started responding to global shortage cues with wheat,  soyabean and rice firing up the kilns as infrastructure building activity comes close to the only economic activity likely in the Indian markets. Seriously though. Copper ain’t a buy and the rest is a house of cards as Euro’e new found week of stability is likely to flake off back to 1.22-1.23 levels tomorrow if not today after the resurgence to 1.25 on the shortened trading week in Asia

Euro stability is hidebound by liquidity responsive flows and Spain’s bailout process is unlikely to move for the next 6-8 weeks let alone keeping the flows of August in September, when more report based political action is awaited as eagerly as the rate cut, belied in Australia, UK and even the Euro zone many times in the last six months



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