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Analysts believe that various factors will impact the equity market in upcoming week, including the US Federal Reserve's interest rate decision, macroeconomic data, and quarterly earnings reports.
The US Federal Reserve's interest rate decision, quarterly earnings of corporates and domestic macroeconomic data will influence trading in the equity market in a holiday-shortened week ahead, analysts said. Foreign funds' trading activity, monthly automobile sales data and global trends would also guide market movement this week, they added. Markets would remain closed on Monday on account of 'Maharashtra Day'.
Due to the lack of significant economic news, the EUR/USD dynamics in recent days has been determined by statements by representatives of mega-regulators regarding interest rate hikes at the upcoming meetings of the US Federal Reserve on May 2/3 and the ECB on May 4.
"... There isn’t anything bad with the CBN naira redesign policy on paper, but implementation is as important as (if not way more important than) intention."
European markets were mixed as investors weigh up global economic uncertainty.