Markets upbeat but uptrend narrow

Early indicators for growth in July seem a little mixed. But we also know from historic data that a narrow market is rarely sustained for a great length of time

Good earnings reports, a lenient Fed and stabilising crude prices — all represented positive new for the market. A study by Motilal Oswal says that the Q1 results thus far indicate that earnings have either met or beaten expectations in 62 out of the 105 corporates under coverage.

Major central banks such as The Bank of Japan, the European Central Bank and the US Federal Reserve — all held policy rates in their latest policy updates. That meant a weaker USD. The Fed did however, indicate that it would probably raise rates in September while the ECB will not raise