RBI interest rate decision, macroeconomic data and global trends would guide markets' movement this week, analysts said. Besides, trading activity of foreign investors and the last batch of Q1 earnings announcements would also guide trends in equities. HSBC PMI (Purchasing Managers' Index) for the services sector is scheduled to be announced on Monday. "This week, all focus will be on the global markets as we are seeing the first major signs of weakness after a long period of stability. This will test the strength of the Indian market, which has remained resilient due to strong domestic liquidity and a better macroeconomic outlook despite global headwinds and valuation concerns," said Santosh Meena, Head of Research, Swastika Investmart Ltd. On the domestic front, the upcoming RBI's monetary policy announcement on August 8 will be important, Meena added. "The last batch of Q1 earnings will drive stock-specific movements. Additionally, institutional flows will play a crucial role i