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#Nifty expected to open higher near the next #breakout /#resistance zone of 9405-9450. Nifty major breakdown point now moves to 9270 and 9119

#US #Markets closed near the flat zone as optimism on economy opening was offset by weakness in #technology shares which attracted profit booking / sell on news mentality.

#Nasdaq remained ranked under performer for the day.
Post market US future moved higher ahead of crucial Fed meet helping #Asian markets to move into green.

After days of consolidation near 100 zone, US $ index broke below 100 to close near 99.78 level.
#Crude #futures continued to remain volatile as many of US traders are planning to wind down June future ahead of May 19 expiry. Crude futures after falling by as much as 20% are witnessing some recovery in early morning trade.

#Axisbank posted mix set of results with asset quality improving a bit but higher covid provision resulted in net loss for q4.

The next two days trading would be dominated by April series expiry related volatility and moves by central banks in US, #Japan and #Europe.

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*Market watchers noted that the poor showing for Germany’s far-left Die Linke party, meant that a fully left-leaning coalition in the Bundestag was now out of the question.*

*Holger Schmieding, chief economist at Berenberg Bank, said in a research note that a pact between the SPD, Die Linke and the Greens could have “impaired trend growth through tax hikes, reform reversals and excessive regulations.*

*Elsewhere, European Central Bank President Christine Lagarde said in remarks to a European Parliament committee that euro zone inflation could exceed the bank’s projections but price increases would likely be temporary.*

*Meanwhile, the U.K.’s opposition Labour party resumes its annual conference in Brighton Monday.*

U.K. energy stocks like BP were closely watched on Monday after panic buying over the weekend due to a truck driver shortage that left many gas stations in Britain without any fuel.

*Here are some events to watch this week:*

#Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen to testify at a Senate Banking Committee hearing Tuesday
#European Central Bank President Christine Lagarde speaks Tuesday at the ECB Forum on Central Banking
#Japan’s ruling party votes to elect leader, Wednesday
#Central bank chiefs Andrew Bailey (BOE), Haruhiko Kuroda (BOJ), Christine Lagarde (ECB) and Jerome Powell (Fed) participate in an ECB Forum panel, Wednesday
#House Financial Services Committee hearing on the Fed, Treasury’s pandemic response, Thursday
#China Caixin manufacturing PMI, non-manufacturing PMI, Thursday
#Univ. of Michigan sentiment, ISM manufacturing, U.S. construction spending, spending/personal income Friday


*Currencies*
The Bloomberg Dollar Spot Index was little changed
The euro fell 0.2% to $1.1698
The British pound rose 0.2% to $1.3705
The Japanese yen fell 0.2% to 111.00 per dollar

*Bonds*
The yield on 10-year Treasuries rose three basis points to 1.49%
Germany’s 10-year yield was little changed at -0.22%
Britain’s 10-year yield advanced three basis points to 0.95%

*Commodities*
West Texas Intermediate crude rose 2% to $75.46 a barrel
Gold futures were little changed.

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