#Markets a head! #evening star formation # Data heavy week ahead
US Markets
Stronger-than-expected jobs data cooled expectations that the Federal Reserve will soon slow its tightening campaign. The Labor Department's closely watched employment report showed that the economy added 263,000 jobs last month while average hourly earnings unexpectedly increased. Elsewhere, Private payrolls in the United States increased by 221K in November of 2022, the least since April of 2021, but beating market forecasts of 190K
Week ahead
Investor will focus on #ISM Non-Manufacturing PMI, the University of Michigan's consumer sentiment, and #PPI data.
Euro Markets
The latest inflation report for the Eurozone showed that annual inflation slowed to 10% in November, while the core CPI stood unchanged at 5%. Despite some early evidence that inflation is slowing among developed economies, it remains still uncomfortable high for policymakers. The ECB remains committed to raising interest rates to tame price growth, market expects a smaller 50bps increase in December
Week ahead
Investors will be looking towards the GDP growth rate of Euro in addition to ECB president Lagarde speech
Indian markets- #Nifty
Indian market made a fresh highs in the previous week, while lessor than the estimated auto sales numbers have raised concern on the economic slowdown. On the policy front, economist polls show that the central bank is expected to raise its key rate by 35bps next week, as the RBI’s bulletin signaled expectations that inflation was slowing. Meantime, the Reserve Bank of India is set to revise downward the country's GDP growth for FY 2023 to between 6.5 to 7%, from currently at 7%, amid softening exports and an expected global slowdown next year
Week ahead
Investors will follow interest rate decisions by RBI in week a head along with the S&P PMI Data
Technically
A small negative candle at 18800 after triple shoulder suggest a some profit booking likely at the upper levels till the trendline support of 18500. Any drop below 18500 is likely to reflect trend reversal.
Stronger-than-expected jobs data cooled expectations that the Federal Reserve will soon slow its tightening campaign. The Labor Department's closely watched employment report showed that the economy added 263,000 jobs last month while average hourly earnings unexpectedly increased. Elsewhere, Private payrolls in the United States increased by 221K in November of 2022, the least since April of 2021, but beating market forecasts of 190K
Week ahead
Investor will focus on #ISM Non-Manufacturing PMI, the University of Michigan's consumer sentiment, and #PPI data.
Euro Markets
The latest inflation report for the Eurozone showed that annual inflation slowed to 10% in November, while the core CPI stood unchanged at 5%. Despite some early evidence that inflation is slowing among developed economies, it remains still uncomfortable high for policymakers. The ECB remains committed to raising interest rates to tame price growth, market expects a smaller 50bps increase in December
Week ahead
Investors will be looking towards the GDP growth rate of Euro in addition to ECB president Lagarde speech
Indian markets- #Nifty
Indian market made a fresh highs in the previous week, while lessor than the estimated auto sales numbers have raised concern on the economic slowdown. On the policy front, economist polls show that the central bank is expected to raise its key rate by 35bps next week, as the RBI’s bulletin signaled expectations that inflation was slowing. Meantime, the Reserve Bank of India is set to revise downward the country's GDP growth for FY 2023 to between 6.5 to 7%, from currently at 7%, amid softening exports and an expected global slowdown next year
Week ahead
Investors will follow interest rate decisions by RBI in week a head along with the S&P PMI Data
Technically
A small negative candle at 18800 after triple shoulder suggest a some profit booking likely at the upper levels till the trendline support of 18500. Any drop below 18500 is likely to reflect trend reversal.