Macro data, global cues to chart market direction this week: Analysts

Release of key macroeconomic numbers, monthly derivatives expiry, and global cues are likely to drive stock market movement this week, according to analysts. Markets will also be reacting to remarks made by the US Federal Reserve Chair Jerome Powell, they said. "This week, we expect the market to witness a gradual up-move with stock-specific action. The focus will shift to monthly F&O expiry as well as global cues. Markets on Monday would react to commentaries of the US Fed Chair at the Jackson Hole Symposium," Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd, said. US Fed Chair Jerome Powell on Friday signalled that the central bank would cut its interest rate in the September meeting. Powell made a crucial speech that laid the groundwork for future interest rate reductions. Powell said, "The time has come for policy to adjust". "The market has been expecting an interest rate cut during the next Federal Reserve meeting in September. There are ...