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Stock Market Tips-Indian rupee slips 29 paise Vs dollar in early trade at 65.05

Recent negative developments in Indian banking sector has put pressure on the rupee. The USD-INR is expected to trade in a range of 64.75-65.05 for the day, says Mohan Shenoi of Kotak Mahindra Bank.

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Stock Market Tips-Indian rupee slips 29 paise Vs dollar in early trade at 65.05

The Indian rupee declined in the early trade on Thursday. It has opened lower by 29 paise at 65.05 per dollar versus 64.76 Wednesday.

Mohan Shenoi of Kotak Mahindra Bank said, “US FOMC minutes caused market volatility with US treasury yields touching a new high, US stock markets reversing early gains and dollar strengthening further.”

“Recent negative developments in Indian banking sector has put pressure on the rupee. The USD-INR is expected to trade in a range of 64.75-65.05 for the day.”

“RBI MPC minutes for February highlighted upside risk to inflation due to rising crude prices, MSP increases, fiscal slippage and Pay Commission implementation.”

“The G-Sec market is expected to continue to be bearish with low demand and falling trading volumes. The 10-year benchmark bond yield is expected to trade in a range of 7.74-7.79 percent for the day,” he added.

The US dollar wobbled last night after minutes from the Federal Reserve’s policy meeting pointed to more rate hikes in months to come.

The dollar index, dropped about 0.20 percent after the release of the minutes, before regaining much of its losses.

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Free Stock Tips-Indian ADRs: Tata Motors, HDFC Bank, Wipro slip 2%

Indian ADRs ended lower on Wednesday. Tata Motors fell 2.27 percent and ICICI Bank was down 0.81 percent.

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Free Stock Tips-Indian ADRs: Tata Motors, HDFC Bank, Wipro slip 2%

Indian ADRs ended lower on Wednesday. In the IT space, Infosys gained 0.17 percent at USD 17.67 and Wipro shed 1.99 percent at USD 5.43.

In the banking space, ICICI Bank was down 0.81 percent at USD 9.85 and HDFC Bank declined 1.95 percent at USD 97.57.

In the other sectors, Tata Motors fell 2.27 percent at USD 27.97 and Dr Reddy’s Laboratories fell 1.44 percent at USD 33.56.

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Commodity Market Tips-Cardamom futures up on increasing demand

Commodity Market Tips-Cardamom futures up on increasing demand

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Cardamom futures were trading higher during the morning trade in the domestic market on Wednesday as investors and speculators extended their positions in the agri-commodity amid rising in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions supported the upward trend in the domestic cardamom prices.

At the MCX, cardamom futures for March 2018 contract was trading at Rs 1165 per kg, up by 0.31 per cent, after opening at Rs 1165, against a previous close of Rs 1161.40. It touched the intra-day high of Rs 1165.

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Commodity Tips – Lead futures dip on easing demand

Commodity Tips – Lead futures dip on easing demand

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Lead futures were trading lower during the afternoon trade in the domestic market on Wednesday as participants reduced their exposure amid subdued demand from consuming industries in the spot market. Marketmen said the weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets.

At the MCX, lead futures for February 2018 contract is trading at Rs 167.20 per kg, down by 0.48 per cent, after opening at Rs 167, against a previous close of Rs 168. It touched the intra-day low of Rs 166.75.

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Sensex extends gains, Nifty still below 10,400; metals fall

Almost all sectoral indices are trading in the green, with IT and PSU banks being top gainers. Meanwhile, midcaps are also trading positively.

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Sensex extends gains, Nifty still below 10,400; metals fall

Biocon gets observations: Biotechnology major Biocon said the US health regulator has made six observations after inspecting its Malaysia manufacturing facility.

“The USFDA has completed a pre-approval inspection of our manufacturing facility in Malaysia and issued a Form 483 with six observations,” Biocon said in a regulatory filing.

“As per the normal expectations of the agency, we intend to respond with a corrective and preventive action plan in a timely manner,” it added.

The company, however, did not share the details of the observations made by the US Food and Drug Administration (USFDA).

In a bold move which will end Coal India’s monopoly. The cabinet has approved opening up coal mining to the private sector for commercial mining.

Coal minister Piyush Goyal announced that allocation will be done through auctions and that there would be no restrictions on end users or on prices.

In an interview to CNBC-TV18, Susheel Kumar, Coal Secretary, Government of India spoke at length about the announcement.

Kumar said that next month we are likely to announce the timeline as well as name and number of coal mines which are going to be offered.

IIFL’s three day India conference begins today and about 180 corporate will be attending. It’s an impressive list.

In an interview to CNBC-TV18, GV Giri, Head of Research at IIFL Institutional Equities spoke at length about the conference and shared his views on the market.

Giri said that investor mood is reasonably optimistic in spite of the fact that some might think that the market is a bit overvalued.

After giving up some gains, the market is currently trading mildly higher. The Nifty continues to be below 10,400-mark. Selling pressure is visible among all sectoral indices, barring IT index. Nifty IT is currently up around 2 percent as tech stocks rose due to a weak rupee. Metal, pharma and PSU banks are currently the top losers. Among stocks, TCS, Dr Reddy’s and Infosys are the top gainers, while Coal India has lost the most.

Venezuela has formally launched its new oil-backed cryptocurrency in an unconventional bid to haul itself out of a deepening economic crisis.

The leftist Caracas government put 38.4 million units of the world’s first state-backed digital currency, the Petro, on private pre-sale from the early hours.

During the first 20 hours of the pre-sale, which runs through March 19, Venezuela received “intent to buy” offers to the tune of USD 735 million, according to President Nicolas Maduro.

“The Petro reinforces our independence and economic sovereignty and will allow us to fight the greed of foreign powers that try to suffocate Venezuelan families to seize our oil,” he said.

After a blockbuster rally in the year 2017, Indian markets are dancing on the tunes of global markets, a trend which is likely to continue in the near term, Pramod Gubbi, Ambit Capital said in an interview with CNBC-TV18.

Indian market is under pressure largely on account of both domestic as well as global factors. But, in the near term, it will be global cues which will give direction to the Indian market.

Investors should also keep a close eye on the dollar which is moving in its normal direction. We might have seen a bottom of the dollar which might not augur well for emerging markets like India.

Commenting on the earnings front, Gubbi said that the December quarter results demonstrated some sort of pick up. The last 3 years have not been that great for Indian markets and India Inc.

The CBI has arrested a General Manager-rank officer of the Punjab National Bank posted at the bank’s head office here in connection with the alleged Rs 11,400-crore fraud involving billionaire jewelers Nirav Modi and his uncle Mehul Choksi, officials said.

Rajesh Jindal, who was the head of the Brady House, Mumbai, branch of the bank during 2009-11, was taken into custody last night, they said.

It is alleged that the issuance of Letters of Undertaking (LOUs) to Nirav Modi group firms without sanctioned limits started during his tenure.

Jindal is presently posted as GM, Credit, PNB Head Office, New Delhi.

Shares of Coal India lost around 2 percent intraday after the government on Tuesday allowed the private sector to mine coal and sell it for commercial use.

The move ended state-owned CIL’s monopoly in a bid to cut imports by raising domestic output.

The Cabinet Committee on Economic Affairs (CCEA) approved the auctioning of coal mines to any firm bidding the highest per tonne price, Minister for Coal and Railways Piyush Goyal said briefing the media.

The market erased some of its gains from the gap-up opening seen.

The Sensex is up 74.55 points or 0.22% at 33778.14, and the Nifty up 8.00 points or 0.08% at 10368.40. The market breadth is narrow as 995 shares advanced, against a decline of 938 shares, while 157 shares were unchanged.

Dr Reddy’s, ITC, Tech Mahindra and HCL Tech are the top gainers, while Coal India, Sun Pharma, Hindalco and Bajaj Finance lost the most.

Shares of Ambuja Cements were up over 2 percent intraday on Wednesday as investors reacted to the December quarter performance of the company.

The company’s Q4CY17 beat analyst expectations as standalone net profit growth of 88.8 percent year-on-year at Rs 338 crore was far ahead of CNBC-TV18 poll estimates of Rs 251 crore.

Profit in the year-ago quarter stood at Rs 179 crore.

The cement maker said standalone revenue from operations increased 21.9 percent to Rs 2,712.6 crore in Q4, compared to Rs 2,224.5 crore in same quarter last year.

Oil prices witnessed a decline, weighed down by the rebound of the US dollar further away from three-year lows hit last week.

An expected rise in US oil production also weighed on prices, traders said.

US West Texas Intermediate (WTI) crude futures were at $61.32 a barrel at 0307 GMT, down 47 cents, or 0.8 percent, from their last settlement.

The equity market has begun the day on a positive note, with the Sensex gaining over 100 points, while the Nifty reclaimed 10,400.

The Sensex is up 168.98 points or 0.50% at 33872.57, while the Nifty is up 46.60 points or 0.45% at 10407.00. The market breadth is positive as 358 shares advanced, against a decline of 138 shares, while 81 shares are unchanged.

Almost all sectoral indices are trading in the green, with IT and PSU banks being top gainers. Meanwhile, midcaps are also trading positively.

In case of stocks, IT stocks are reacting positively to the rupee’s depreciation. TCS and Infosys are among Sensex gainers. Coal India, Sun Pharma, and ONGC are the top losers.

In the currency market, the rupee opened lower by 11 paise at 64.90 per dollar on Wednesday versus previous close 64.79.

Pramit Brahmbhatt of Veracity said, “Rupee will trade with a negative bias on back of stronger dollar as well as weakness in the domestic equity market. 64.80 is the immediate support for the rupee and more weakness can be seen beyond the support.”

“The trading range for the spot USD-INR is expected to be 64.50-65,” he added.

The US dollar rose to a six-year high as it extends the rebound from a three-year low helped by rising Treasury yields and profit-booking by forex traders.

Among global markets, stock markets dipped after a long winning run on Wall Street ended overnight, while the dollar gained momentum on Wednesday as yields on US Treasury debt headed for highs not seen in four years.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.15 percent. Japan’s Nikkei shed 0.2 percent. Australian stocks were down 0.05 percent and South Korea’s KOSPI fell 0.4 percent.

Meanwhile, the Dow and S&P 500 fell on Tuesday to snap a six-session winning streak as a sharp decline in Walmart weighed heavily, but gains in Amazon and chip stocks helped the Nasdaq hold near the unchanged mark.

Walmart, the world’s biggest brick-and-mortar retailer, reported a lower-than-expected profit and posted a sharp drop in online sales growth during the holiday period. Its shares slumped 10.2 percent and suffered their biggest percentage fall since January 1988.

Markets have been choppy in recent weeks, falling more than 10 percent from their January 26 high only to rebound last week with their best weekly gain in five years. Tuesday’s declines once again pushed the S&P 500 below the 50-day moving average, a technical support level.

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Top 4 stocks to buy in a volatile week which could give up to 11% return in short term

If Nifty see a close below 10350 in next few days then we may be going in for a deeper correction where price may see a downside move to 10100 – 9900.

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The Nifty50 ends down for the third consecutive day to close below 100-days SMA at 10,360. The Nifty has ended down for the third consecutive day which it hasn’t done since the first week of January.

BankNifty also ended down to 24870 on the back of rising news of frauds in the domestic banking system that is surfacing since PNB scam was unearthed. The recent scam of Rotomac also added jitters to current developments.

Overall cues for the Indian equity markets remained negative on the back of sentiments that have developed in the last two weeks or so.

A complete underperformance by banking stocks and correction in some of the blue-chips also aided in the current correction. A rise in volatility from 13.5 to 17 levels validates the increasing range of market we may see going forward and directional traders.

The Nifty has closed below its 100-days moving average which is a bearish sign. In the next few days, we may see a trend that may be established since Nifty has respected the 100-days MA last two times it tested it and gave a follow up buying on the underlying trend, i.e. Bullish.

It will be critical to see if buying is returning to the market at lower levels to validate the internal strength. If we see a close below 10350 in next few days then we may be going in for a deeper correction where price may see a downside move to 10100 – 9900.

Though, momentum oscillators suggest an oversold market while it will be all line in the sand for Nifty at 10350 and a weekly close below or above it.

Top four stocks which could give up to 11% return in the short term:

Idea Cellular: BUY| Target Rs93| Stop Loss Rs80| Return 11%

The stock is trading in the oversold zone and is seeing a reversal in terms of the price structure. A double bottom formation at Rs81 odd levels coupled with a pullback in price seen in the last session suggests a short-term bullish structure that can take prices to Rs93. Investors can keep a trailing stop loss at Rs80

Coal India Ltd: BUY| Target Rs330| Stop Loss Rs295| Return 6%

It is one of the outperforming stocks in the oil and gas space which has been in a secular uptrend for the past few months. The recent consolidation seen at Rs290 – 310 levels makes it healthier for next move towards the projected target of 330.

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The W pattern along with a flag breakout suggest its overall bullish nature. We suggest buying on dips for the upside target of Rs330 and a stop loss placed at Rs295.

NTPC: BUY| Target Rs175| Stop Loss Rs160| Return 7%

The stock is making a reversal pattern on the higher timeframe charts while a recent base building is seen in the stock on the daily chart with the consolidation of more than a week.

A reversal from the oversold zone can also be seen which can take prices higher in the short term with prices retracing to 175 – 177. We suggest placing a stop-loss placed at Rs160.

Infosys: BUY| Target Rs1190| Stop Loss Rs1110| Return 5%

The stock has breached its upward sloping trendline and ended its recent price correction from 1200 odd levels to 1100.

A retest of the point of polarity at previous breakout levels and a breakout from bullish continuation pattern suggest that it may see next round of bullish levels. We expect the technical target of the pattern at 1190 while stop loss can be placed at the recent bottom of 1110.

Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

Global research firms tag ‘Outperform’ rating on Tata Steel, expect up to 32% return

Macquarie has maintained an outperform rating on Tata Steel with a target of Rs 800. The house feels that the Bhushan Steel bid appears 10–15 percent higher than expectations and sees Bhushan assets as an attractive strategic fit.

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Global research firm Credit Suisse has maintained an outperform rating on Tata Steel with a target of Rs 860. The house is of the view that the Bhushan Steel bid implies EV at 6x adjusted EBITDA adding that the valuation is not cheap, but with steel cycle picking up, the deal can be EPS accretive. The firm also said that minor working capital plus capex would be needed for the asset.

Macquarie has also maintained an outperform rating on Tata Steel with a target of Rs 800. The house feels that the Bhushan Steel bid appears 10–15 percent higher than expectations and sees Bhushan assets as an attractive strategic fit.

The firm is of the view that assets offer growth optionality and attractive strategic fit while valuations need to evaluate factors beyond headline capacity.

“The stock correction on headline bid provides a buying opportunity,” it added.

Tata Steel’s capital structure is set to change, which should help ease the burden of this transaction. A rights issue is underway to raise Rs12,800 crore and once the European steel business moves to a joint venture with ThyssenKrupp, the debt related to this business will also be lower. That should give Tata Steel breathing room for the increase in debt because of these acquisitions.

At 10:23 hrs Tata Steel was quoting at Rs 645.00, down Rs 5.75, or 0.88 percent. It has touched an intraday high of Rs 655.40 and an intraday low of Rs 642.50.

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Free Stock Tips – Indian rupee opens lower at 64.90 per dollar

The trading range for the spot USD-INR is expected to be 64.50-65, says Pramit Brahmbhatt of Veracity.

Free Stock Tips – Indian rupee opens lower at 64.90 per dollar

The Indian rupee opened lower by 11 paise at 64.90 per dollar on Wednesday versus previous close 64.79.

Pramit Brahmbhatt of Veracity said, “Rupee will trade with a negative bias on back of stronger dollar as well as weakness in the domestic equity market. 64.80 is the immediate support for the rupee and more weakness can be seen beyond the support.”

“The trading range for the spot USD-INR is expected to be 64.50-65,” he added.

The US dollar rose to a six-year high as it extends the rebound from a three-year low helped by rising Treasury yields and profit-booking by forex traders.

Dhawal Dalal of Edelweiss said,” Government bond prices continued to drift lower amid declining trading volumes and lack of appetite for bonds. Market participants are focussing on the trajectory of the rupee and crude oil for further cues in bond yields.”

“Market positions continue to remain light. Based on the recent move in bond yields, we expect the 10-year benchmark bond yield to trend towards 7.80 percent in the near term from a technical perspective,” he added.

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Top 5 stocks to buy in a volatile market which can give up to 15% return in short term

The markets witnessed a sustained selling pressure throughout the trading day on Monday after opening but managed to hold above 10,300 levels. The recovery seen in the last hour of trade saw the Nifty regain half the losses and closed at 10,378, down by 0.7 percent for the day.

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Top 5 stocks to buy in a volatile market which can give up to 15% return on short-term

The index has formed a Bearish Belt hold type of candlestick pattern as opening and intraday were the same. After the last seven days of sideways price action, the index is showing signs of breakdown and resumption of downtrend with new closing low for the decline starting from its all-time high.

 The index closed below the rising support trendline originating from September 2017 low of 9,688 level. Also, the Nifty closed below 100-day moving which has been acting as support for the index.

The index is seeing supply pressure above 10,600 levels and is unable to sustain it. If Nifty sustains below 10,400 levels, the index is likely to see a continuation of the downtrend.

The next level for the index is seen at 10,170, and then at 10070 where 200-day moving average and November-December lows are seen. In Nifty options, strike price 10,400 calls witnessed a significant amount of open interest addition suggesting call writing activity.

Thus, the index immediate resistance is placed at 10,400-10,450 levels. For strength, the index should cross and sustain above 10650 levels on the tradable basis.

Here is a list of top 5 stocks which could give up to 15% return:

V-Guard Industries: BUY | CMP: Rs 234 | Stop loss: Rs 222| Target: Rs 270 | Return 15%

The stock is in long-term uptrend forming the higher top and higher bottom formation on its weekly chart. Last month, the stock hit an all-time high of Rs 250 on good volumes and price, and then corrected down to Rs 202 levels on below-average volumes; indicating market participants are holding on to the stock despite the decline.

The correction has taken support at 61.8 percent Fibonacci retracement of the rally from Rs 177 to Rs 250 levels. Also, the low coincides with a 200-day moving average indicates a strong support level and the stock has seen a strong bounce back from the previous level.

In the last four sessions stock has witnessed above average volumes and has moved higher – indicating buying participation in the stock, even in the current market scenario. Thus, the stock can be bought at current levels and on a dip to Rs 230 with a stop loss below Rs 222 for a target of Rs 270 levels.

United Breweries Limited: BUY | CMP: Rs 1,052| Stop loss: Rs 1,000 | Target: Rs 1,200 | Return 14%

The stock had touched a high of Rs 1,226 in April 2015 and then declined down to Rs 700 levels where it witnessed consolidation at lower levels and rallied back to Rs 1,200 levels.

The stock has been trading below Rs 1,200 levels and consolidating its gains for the last three months between Rs 1,200 and Rs 1,000 levels. In the process, the stock has formed a bullish cup and handle pattern on long-term charts.

Price has taken support at Rs 1,000 level i.e. lower end of the range and seen a bounce back. It has formed bullish engulfing candlestick pattern on the daily chart and closed above the previous day’s range.

The relative strength index (RSI) and Stochastic have given positive crossover with their averages suggesting reversal of short-term trend. Thus, the stock can be bought at current levels and on a dip to Rs 1,300 with a stop loss below Rs 1,000 for a target of Rs 1,200 levels.

InterGlobe Aviation Limited: BUY | CMP: Rs 1,282 | Stop loss: Rs 1,220 | Target: Rs 1,450 | Return 13%

The stock touched high of Rs 1,347 in August 2017 and then corrected down to Rs 1,022 levels. Since then the stock has been forming a higher low and closed above 78.2 percent after retracement of the fall.

Price has been consistently taking support at 200-day moving average and is moving higher – indicating that the long-term trend in the stock is up. For the last few months, the stock has been largely consolidating and now is closed at a six month high.

In the last seven sessions, the stock has consistently seen above average volumes with positive price action that indicates to a buying participation at even higher levels. ADX line, an indicator of trend strength has moved above neutral level reaffirming the strength in an uptrend.

Thus, the stock can be bought at current levels and on a dip to Rs 1,260 with a stop loss below Rs 1,220 for a target of Rs 1,450 levels.

Repco Home Finance Limited: SELL | CMP: Rs 537| Stop loss: Rs 560 | Target: Rs 480 | Return 11%

The stock has been in a decline mode for the last eight months. Last month’s pullback in the stock was unable to sustain above its 200-day moving average and price has continued to hit 52-week low confirming the downtrend.,

Last week, the stock witnessed a decline in high volume with follow-through price action yesterday. It has broken its pivotal low of Rs 549 and closed below. Thus, the stock can be sold at current levels and rising to Rs 545 with a stop loss of Rs 560 for a target of Rs 480 levels.

Power Finance Corporation: SELL | CMP: Rs 107 | Stop loss: Rs 112 | Target Rs 95 | Return 11%

The stock has seen a downtrend for last nine months and continues to hit new 52-week low. Recently, the stock price fell below 61.8 percent retracement level of the major up move from Rs 78 to Rs 169 levels which comes at Rs 113 levels.

Since then the price has been trading at lower levels for the last couple of weeks. Thus, the stock can be sold at the current level and on rising to Rs 109 with a stop loss of Rs 111 for a target of Rs 95.

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Sensex rises over 100 pts; PNB loses 3%, Gitanjali falls 10%

Fortis Healthcare, Bhushan Steel, Amtek Auto, Kaya and JSW Energy gained 1-5 percent.

Market Update: Benchmark indices continued to trade higher, with the Sensex rising more than 100 points supported by private banks, technology, metals stocks.

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Sensex rises over 100 pts; PNB loses 3%, Gitanjali falls 10%

Tata Steel was among top Sensex gainers after CLSA bet big on the Indian steel industry, saying tightening demand-supply will aid stock performance. Macquarie too maintained outperform rating on the stock, saying the recent correction has made the risk-reward attractive.

PNB fell for the fifth consecutive session, falling another 3 percent after 3 new arrests were made in the fraud case. Gitanjali Gems was locked at another 10 percent lower circuit, taking a total loss to more than 56 percent in February so far.

10:37 am Buzzing: JSW Energy shares gained as much as 2.5 percent in morning on signing pact with Maharashtra government for setting up manufacturing unit for electric vehicles (EV) and energy storage systems in the state.

10:32 am Drug Patent: Suven Life Sciences announced that the grant of one product patent from India and one product patent from South Korea corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases.

These patents are valid through 2029 and 2033, respectively.

10:12 am Market Update: Benchmark indices extended gains with the BSE Sensex rising over 157 points and the Nifty recapturing the 10,400-level on buying by investors in metal, capital goods and IT stocks amid a mixed trend at other Asian markets.

The 30-share Sensex was up by 157.24 points, or 0.46 percent, to 33,931.90. The index had lost 522.81 points in the previous two sessions.

Overseas, Asian stocks were trading mixed as Treasury yields climbed back toward recent four-year highs. Chinese markets will reopen on Thursday, 22 February. US markets remained closed yesterday, in observance of Presidents Day.

9:59 am Buzzing: Kaya shares rallied as much as 5.5 percent intraday after Porinju’s Equity Intelligence picked up minor stake in the company.

Portfolio Management clients of Equity Intelligence India Private Limited and EQ India Fund, which are owned by ace investor Porinju Veliyath, acquired 13,350 shares (representing 0.1 percent of total paid-up equity) of the company, as per disclosure available on the exchange.

Shares were bought through open market transactions.

Kaya is a provider of skincare, haircare and beauty solutions in India and overseas markets.

9:52 am Market Update: Benchmark indices recouped early losses, with the Sensex rising more than 100 points led by private banks, technology, and metals stocks.

Market Update: Benchmark indices recouped early losses, with the Sensex rising more than 100 points led by private banks, technology, and metals stocks.

Nifty50 traded above 10,400 levels while all sectoral indices were trading in the green.

Nifty Metal was the biggest gainer among sectoral indices, rising 1.5 percent.

About two shares advanced for every share falling on the BSE.

9:45 am Rupee Trade: The rupee depreciated 21 paise to 64.42 against the US dollar at the interbank forex market today on increased demand for the greenback from importers and banks.

A strong dollar in overseas markets weighed on the Indian rupee, a currency dealer said.

On Friday, the rupee had ended 30 paise lower at 64.21 against the US dollar on rising global crude prices and worsening trade deficit.

On a net basis, foreign investors withdrew Rs 895.79 crore from stocks yesterday, according to provisional FPI data.

The dollar recovered from a 15-month low against the yen to trade at 106.75, up 0.15 percent for the day.

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