Research Report
Global Market – Gold, ECB Meeting & U.S. Fed – Powell ‘s testimony
This week we will focus on ECB meeting outcome, ECB kept interest rate unchanged and commentary is important to watch out for. U.S. Fed chair Jerome Powell testimony this week provided further cues on interest rate trajectory and we would be focus on gold which is currently trading at above $2150.
This week global market including Indian market is trading at fresh 52-week high and momentum likely to see positive triggers in coming weeks. Next U.S. Fed meeting is scheduled on 20-Mar-24 and incoming jobs & inflation data likely to be provide much needed cues ahead of next US FOMC meeting.
Global Market – Gold, Cryptocurrency & U.S. Govt averts shutdown
Last week, we have discussed how global market continues to trade at recent high on hope of interest rate peaked out and hope of economic stability. This week we will focus on Gold which has now trading around $2050 & BITCOIN which is now above $60000 almost after two years. We will also discuss China’s continues effort to boost economy.
This week’s news focus on another round of stimulus from China, US Congress deal to avert shutdown can been seen as another round of expansion. We remain cautious on Japan ‘s change in monitory policy which was -0.10 interest rate since 2016. Japanese currency official warning against unstable FX at G-20 needs to see with cautious.
Global Market – US Market at record high – DOW30 above 39000 & S&P500 above 5000
This week we will discuss US market which are trading at record high, US FOMC meeting minutes released this week and how China continue to provide support to its economy which continue to struggle despite opening up in last January.
We are certainly cautious as rally seen in market globally seems to be running ahead of its on positive expectation and events will follow later on. Risk-On sentiment continue to provide much needed boost as economy remains strong.