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Global cues to dominate market sentiment this week, say experts

Monday, August 20, 2018

Trade talks between China and the US, movement of Turkish lira and rupee would take centre stage this week and dictate the trend in the equity markets, say experts.

"This week seems positive. On the macro front, investors are expecting a positive outcome of the trade talks between Chinese delegation and the US, to be held on 22nd and 23rd August," said Gaurav Jain, Director, Hem Securities.

"It will be important to watch developments of recent fresh talks between the US and China and crude oil movement. Any rebound in Turkish lira and cooling off in the relations of the US and Turkey will bring some relief for INR in short term," said Mustafa Nadeem, CEO, Epic Research.

Also, Federal Open Market Committee (FOMC) minutes on Wednesday will be watched.

"Global clues will continue market sentiments, in absence of any major domestic events. Traders will continue to watch out for new developments on the US-China trade front as a Chinese delegation will meet US representatives in Washington in the coming week," said Rahul Sharma, Senior Technical Research Analyst, Equity99.

Further, the US Federal Open Market Committee will release the minutes from its July 31-August. 1 policy meeting next week. The FOMC minutes will likely provide more information on the Committee's assessment on trade-related risk to its economic outlook. The Federal Reserve kept the target range for the federal funds rate at 1.75% to 2% during its August 2018 meeting, in line with the market expectations, he added.

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