Highlights of the commodity podcast:

-Commodities ended lower as firmer US dollar and growth worries offset China’s stimulus expectations.

-Industrial metals and crude oil ended well off the lows on China’s stimulus expectations; gold hovered near 9-month low.

-The US dollar index rose to a fresh 2002 high on safe haven buying and Fed’s tightening outlook.

-US DJIA index ended higher for a second time in three weeks; Chinese equities fell for the first time in six weeks.

-US non-farm payrolls rose by 372K in June as against forecast of 268K growth; unemployment rate was steady at 3.6%.

-FOMC minutes show that Fed is likely to keep raising interest rates for longer to prevent higher inflation from becoming entrenched.

-Governor Christopher Waller and St. Louis Fed President James Bullard backed the need for restrictive policy to curb price pressures but argued the US can still avert a contraction.

-Most ECB officials want to raise interest rate by 0.25% in July but some said central bank should not make an unconditional commitment.

-China’s Ministry of Finance is considering allowing local governments to sell $220 billion of special bonds in the second half to accelerate infrastructure spending.

-Beijing said people eligible for COVID-19 vaccinations will have to take the shot before they enter crowded venues.

-Former Japanese Prime Minister Shinzo Abe was assassinated at a campaigning event in Japan.

-Key events in the coming week include US inflation data and China’s GDP, industrial production and retail sales.

Get forex market and rupee movement updates on the go with Kotak Securities Currently in Currency podcast by Anindya Bannerjee.

USDINR has an upward drift and that can get some impetus from a strong USD overseas and rising US bond yields. In crosses, JPY remains weak as USDJPY is trading at the highest levels since 1998.

Get a fundamental perspective on the trading week with Rini Mehta.

- Equities continued the past week’s recovery trend on increasing hopes of ‘peaking inflation’ with both Sensex & Nifty Index gained 2.75%.

- On the economy front, GST collections for May came in at Rs 1.44 trillion.

- Manufacturing PMI declined from 54.6 in May 2022 to 53.9 in June 2022, while services PMI increased from 58.9 in May to 59.2 in June.

- FIIs continued to be a net sellers till date in the month of July’22 to the tune of Rs 4,543 crore.

- Inflation would be a key driver to watch out for in the near term.

- Weekly pick: Tech Mahindra - The company’s annual report highlights improvement in margins of certain acquired entities such as Pininfarina that were a drag in the earlier year.

- Other picks: Axis Bank - The company's corporate portfolio is nearing peak profitability while retail is showing improvement in asset quality.

Get forex market and rupee movement updates on the go with Kotak Securities Currently in Currency podcast by Anindya Bannerjee.

USDINR may continue to trade within a positive bias as strong US Dollar Index and rebound in US bond yields offer support. Large options OI to be supportive as well. In crosses, Euro remains weak.

Join Shrikant Chouhan, Research Head, Kotak Securities, as he takes us through the Trade Talk Podcast.

Nifty 16,050 will act as a major support level today, while Nifty 16,250 will be a major resistance level, says Shrikant Chouhan in our daily Trade Talk podcast. Get a full trading strategy here for Nifty, Bank Nifty, and select stocks from the auto and FMCG space

Join Shrikant Chouhan, Research Head, Kotak Securities, as he takes us through the Trade Talk Podcast.

Nifty 16,070 will act as major support level for today. Above 16,070, the Nifty could rally up to 16,200 which is an ultimate resistance level for the market, says Shrikant Chouhan in our daily Trade Talk podcast. Get a full trading strategy here for Nifty, Bank Nifty, and select stocks from the auto and financials space.

Get forex market and rupee movement updates on the go with Kotak Securities Currently in Currency podcast by Anindya Bannerjee.

Rupee is going to marginally benefit from RBI measures on capital flows but the extent of impact can be limited. A bigger positive remains weak oil and commodity prices. All in all as long 78.90 intact on futures, $ buying interest may remain.

Get forex market and rupee movement updates on the go with Kotak Securities Currently in Currency podcast by Anindya Bannerjee.

USDINR may open lower due to lower oil prices but bias remains upward. In crosses, Euro and GBP can remain under pressure due to worsening macro outlook.

Join Shrikant Chouhan, Research Head, Kotak Securities, as he takes us through the Trade Talk Podcast.

Nifty 15,930-16,050 will be the key levels to watch out for today. The strategy should be to buy if the market drops with a stoploss at 15,650, says Shrikant Chouhan in our daily Trade Talk podcast. Get a full trading strategy here for Nifty and Bank Nifty and select stocks from the FMCG and financial space.

Get forex market and rupee movement updates on the go with Kotak Securities Currently in Currency podcast by Anindya Bannerjee.

USDINR remains in a slow upward drift. FPI outflows, Carry trade unwinding and low ECB inflows would continue to drive The pair upward. But we expect aggressive intervention from the central bank.