US Markets The Dow Jones closed 150 points on Friday as investors reassessed the outlook for monetary policy. US 10 Year Government Bond Yield decreased to a 7-week low of 3.6595%, after meeting minutes released the Federal Reserve's meeting showed a potential slowdown in interest rate hikes Week Ahead
In the US, the labor report will take the central stage followed by speeches by several Fed officials, 2nd estimate of GDP growth, ISM manufacturing PMI, CB consumer confidence, and personal income and spending.
European Markets
The accounts of the central bank's October policy meeting showed, European Central Bank policymakers agreed that the central bank should continue normalizing and tightening monetary policy to combat high inflation. The Euro jumped to $1.04 after FOMC minutes suggested the Fed will soon start slowing the pace of rate increases. Week Ahead Investor to brace the Inflation numbers for Euro Area, Germany, France, Italy, Spain.
Indian Markets After a consolidation in the previous week, the Indian market followed its global counterparts and resumed its uptrend and ended 1 percent higher in the previous week. Week ahead The focus will shift to domestic cues as monthly auto sales numbers and second quarter GDP data will likely to keep the Investor busy. Technically Nifty to face the resistance at the all-time high levels 18664 sustaining above can take the markets to 18880 while 18080 to act as a strong support. On the oscillators the data is positive with RSI at 71.6, MACD at 51.6. Derivative data suggest 18500 with 32Mn call OI and 27Mn Put OI to act as a critical zone to break followed by 18300 to act as a critical support zone with 144K Put OI added on Friday session.
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