Yesterday, the jobless rate in the US stood at 7.6% for the month of June. It seems the
jobless data is forming a bottom at these levels. Further, 195,000 new jobs were created
in the previous month, much better than what the market was anticipating. On the back
of these developments, speculations are rife in the market that tapering of the monetary
stimulus program is just around the corner.
Locally, the President of India has approved the Food Security Ordinance. It is
anticipated that the Food Bill is likely to put pressure on the government exchequer to the
extent of Rs.125,000 crore.
In the light of these developments, equity markets in India for the coming week are
likely to remain under pressure.
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ReplyDeleteCrude price gained mildly in Asia on Monday with the market looking ahead to an update on February crude output as early as this week and new demand figures later in the month from the International Energy Agency.
ReplyDeleteCrude Intraday Tips