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Below the Quote On Market Macros by Shrikant Chouhan, Head Equity Research, Kotak Securities Ltd

Oil prices edged lower on Tuesday due to concerns about a slowing Chinese economy impacting demand. However, expectations that the U.S. Federal Reserve might begin cutting its key interest rate as early as September limited the declines. In his Monday speech, Fed Chair Jerome Powell acknowledged that second-quarter inflation data has bolstered confidence in inflation returning sustainably to the bank’s 2% target. Nevertheless, Powell emphasized the need for more positive data before committing to rate cuts. The U.S. Retail Sales data for June, a crucial measure of consumer spending that influences consumer inflation, is estimated to have remain unchanged month-on-month.

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