Asian markets gloomy outlook

Japan's Q1 GDP was better than expected at 0.6% QoQ, 2.4% annualized while forecast was at 0.4% as reported by the Cabinet Office, Japan.

Indonesia left rates on hold as anticipated.

Shanghai stock index goes up 3.1%, but not yet a conducive investment destination.

High valuation of Indian stocks worrisome, says UBS.

Low interest rates crucial, but consumer demand a key concern, says Raguram Rajan (Governor RBI).

Trade tips: USD/INR

On ECB's confirmation of monthly debt purchasing may boost the dollar's strength against Euro.

In addition fresh statements from FOMC, related to interest rate hike in the US may provide more impetus for the rupee going forward. The pair going to be range bounded for the day between 63.55 & 64.10 per USD.