Market Wrap

Last two weeks have been highly volatile. All markets saw huge two sided moves as participants faced quite a few economic reports. US jobs picture deteriorated further and there is little evidence of a rebound in the economic activity in the near term in the US. The USD has rebounded against all majors as it is now better to own US$ than other paper currencies.

Economic scenario in western countries looks quite weak and Asian countries have already suffered due to poor western demand for goods.

Energy prices have declined significantly and the trend looks quite bearish in the medium term. Short term trend in precious metals and energy have already seen oversold levels.

Equity markets here in India have been quite volatile and there are signs of short term bottom being formed in S&P CNX Nifty.

I will be posting individual analysis of various markets in the next few days.