After a quiet month in June, attention of participants in the domestic equities market will be drawn to macroeconomic data such as inflation, IIP and current account deficit in July. The rise in crude prices towards the $80 threshold, as well as any weakness in the rupee, could be headwinds for the market, but expectation of a normal monsoon, uninterrupted FII and domestic participation, along with positive global cues, will be tailwinds.