๐ ๐ผ๐ป๐๐๐ฒ๐ฟ ๐ด๐ผ๐น๐ฑ-๐ฐ๐ผ๐ฝ๐ฝ๐ฒ๐ฟ ๐ฟ๐ฎ๐น๐น๐ ๐ถ๐ป ๐ป๐ฒ๐ฎ๐ฟ ๐๐ฒ๐ฟ๐บ ! ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฟ๐ฒ๐๐ถ๐ฒ๐ ๐ณ๐ผ๐ฟ ๐ฏ๐ฟ๐ฑ ๐๐ฒ๐ฒ๐ธ ๐๐ฎ๐ป ๐ฎ๐ฌ๐ฎ๐ฏ
ะฝะฐ ะบะฐะฝะฐะปะต: ๐ก๐๐ฅ๐๐ ๐ฆ๐๐๐-๐ฆ๐ง๐ข๐๐ ๐๐ก๐๐๐ฌ๐ฆ๐ง
In this video, I have given the review analysis of the events for the 3rd week of January 2023.
US Retail sales (MOM) declined by 1.1% and US industrial production (MOM) declined by 0.7% pointing towards weakening economy and overall problems in all sectors as consumers staying away in the biggest consumer society and market in the world. This shows deep malaise in USA economy.
European companies corporate results also point towards deepening economic crisis in Europe. French car giant Renault's group car sales declined for the fourth consecutive year. British online fashion retail co. "BOOHOO" sales declined 11% during the peak christmas season sales period and another British bookmaker co."Dr. Martens" came out with very bad quarterly results with managment indicating big problems in USA market sales .
Indian corporate results are also not exiciting and steel co." Tata Metaliks" results show that increased volumes cant compensate for metals steel price decline as margins compressed and profits declined by 90% on YoY basis.
Among all these , one boosting news came from gold an copper and we expect monster rally in gold- copper in near term as Peru (2nd largest copper producer in wordl) is grappling with the biggest political protests in its history disrupting mining and economic activities and declining copper gold production. Also Chile which is the largest copper producer gave warning that its copper production for 2023 may decline by 6.3% due to depleting mining reserves.
Anyway, few quarterly results from metals, banks and technology sectors are expected this week and also derivatives expiry would happen in next short week in Indian market due to Republic day holidays and then budget session would drive the market .
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