Business in the Week Ahead in India: will feature speeches by central bank governors, Fed minutes, an IPO, macro indicators, and earnings phase, with more to come..
India is expected to reach 7% growth this financial year, making it the fastest-growing major economy. However, there are discrepancies between growth estimates and actual trends, such as slow recovery in private capex and unsatisfactory rural consumer demand curves.
The earnings season is drawing to a close, with economic growth being a concern. Political rumors are rife, with two more phases remaining. Market volatility indicates increased anxiety among participants. It’s advised to remain cautious about emerging COVID variants.
Monday – May 20
Powell Speech: The Federal Reserve maintained its target range for the federal funds rate at 5.25-5.50% during its May meeting, citing inflationary pressures and a tight labor market. Chairman Jerome Powell is scheduled to speak, but policymakers believe inflation remains sticky.
Earnings:-OIL India, ONGC
Tuesday – May 21
ECB President Lagarde Speech: ECB President Christine Lagarde is set to speak at an official event in the coming week, potentially giving more insights into the upcoming policy path, as the bank maintains record-high interest rates at 4.5%.
Earnings:- NMDC
Wednesday – May 22
FOMC Minutes: The Fed’s May meeting prompted a cautious approach to policy rates, with Chair Powell stating the current policy is restrictive enough to achieve the 2% inflation target.
IPO:- Peak XV, Ashish Kacholia, and Awfis Space Solutions are set to launch an initial share sale on May 22, with a price range of Rs 364-383 per share. The IPO will close on May 27.
Earnings: Grasim, Jubilant FoodWorks
Thursday– May 23
HSBC India Manufacturing PMI revised : HSBC India Manufacturing PMI revised downwards to 58.8, the second-fastest in over three years, due to rising demand. Services PMI was revised to 60.8, the 33rd consecutive month of growth in services activity. May flash readings are due on Thursday.
US Initial Jobless Claims: US Initial Jobless Claims for week through May 11 were revised to 222,000, a decrease of 10,000 from the previous week’s level, and up to May 18.
Earnings: PAGE Industries
Friday – May 24
India’s Foreign Exchange Reserves rose: India’s Foreign Exchange Reserves rose to $641.590 billion from $637.920 billion in the previous week, with the next set of figures expected on Friday.
Earnings: Bosch, Hindalco
Must read book about investing – check here Business in the Week Ahead in India: India’s inflation/manufacturing data, US inflation and initial jobless claims etc. in Focus.Business Business Business in the Week Ahead in India: India’s inflation and manufacturing data, along with US and Euro area data, will be released, with US inflation and initial jobless claims crucial for Federal Reserve rate cut speculation.