After an eventful week with RBI increasing the repo rate, Apple crossing a market cap of $ 1 trillion, Sensex and Nifty soaring to set all time high records and GST Council announcing some more sops, here are the main events of this week:
Iran Sanction Announcement
The White House would make an announcement on Monday detailing the reimposition of sanctions on Iran that Trump has ordered for this week – Iran’s purchases of US dollars, trade in gold and precious metals and dealings with metals, coal and industrial-related software.
Monsoon no cause for worry
Even as private weather forecaster Skymet lowered its forecast for 2018 to ‘below normal’, the IMD said rain in August and September would be ‘normal’ at 95% of the long-period average. Crops are more dependent on the initial phase of monsoon than the latter half, thus it should not be a major cause of worry.
Domestic earnings this week
Some key corporates declaring June quarter numbers are Adani Ports, M&M, BPCL, HPCL, Cipla, Lupin, Siemens, Aurobindo Pharma, Eicher Motors, GAIL, Hindalco and SBI.
Global earnings this week
HSBC, SoftBank, Japan Post Bank, Disney, 21st Century Fox, Deutsche Telekom, China Mobile, Glencore and Adidas.
Across the globe
- Reserve Bank of Australia to meet on Tuesday (Aug 7) to produce no change in either the record-low cash rate or the long-term guidance
- Bank of Japan to release a summary of opinions Wednesday ( Aug 8) from its July 30-31 meeting, to announce a preliminary reading of second-quarter gross domestic product. Samsung Electronics to unveil its next Galaxy Note smartphone Thursday (Aug 9).
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