India managed to maintain last april’s exports value that was a pretty big jump from April 2010 at a 20% groth but there was no growth. Auto sales have started trickling in weak though markets and currency having over corrected ere more comfortable rising back than staying don Nifty stay near 4850 levels at the close.
Maruti’s downtick in sales or the recent spiralling ccosts continue to orry the behemoth as the Yen also rushes up t o cover its global strength. in that case however, the Yen Yuan trade will likely cut down the aged triggers appreciating a “deflated and downtrodden” currency like the Yen as China welcomes Japanse trade to grow its yuan tentacles and rejuvenate larger ties beteen China and Japan.
Indian exports survived the duties on Gold and the clampdown on Gems trade hich though large categories apprecaiate distinctly standalone cycles for the rupee including Laundering in the Gems trade. The Auto Sales in the meantime seem still likely to cross 3 million for the year if not 3.5 M despite Maruti’s losing share.
Most BRIC and ASEAN nations reported an export contraction in the mean time in April incl China and Japan as shared earlier and South Africa here the trade deficit for April ballooned to ZAR 6B (Google it!)
China’s Export data is likely to bounce back in may from data of the first fortnight. Indian export groth ould be fine as long as it remains above $25 B or near the number as the May PMI came in really strong compared t global oes at 54.8 showing the strength of the 5-6% groth number as we return at our worst to the Hindu rate of growth ith Q1 bottomlines still up in double digits and topline up by 20%