Market Macros by Shrikant Chouhan, Head Equity Research, Kotak Securities
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Below the Quote on Market Macros by Shrikant Chouhan, Head Equity Research, Kotak Securities
Oil prices continued to climb in early Asian trading on Thursday, building on significant gains from the previous session. This increase followed the assassination of a Hamas leader in Iran, which heightened the risk of a broader Middle East conflict, along with indications of robust oil demand in the US. The Federal Reserve maintained its current benchmark rate, and Fed Chair Jerome Powell suggested that a rate cut in September is possible if economic data maintains its current trajectory. In the US, pending home sales jumped by 4.8%, significantly surpassing the expected 1.4%, indicating a strong housing market. Meanwhile, India's manufacturing PMI came in at 58.1, slightly below the forecast of 59. US unemployment claims and PMI data are set to be closely monitored later today.
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