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Market Review

US:

Stocks rebounded on Tuesday following a losing session on Wall Street, as oil prices eased and investors assessed ongoing tensions in the Middle East.

Asia:

Most markets in Asia–Pacific were trading higher early trade Wednesday, taking cues from overnight gains on Wall Street. India: India's benchmark equity indices snapped their sixsession losing streak to end higher on Tuesday, led by heavyweights HDFC Bank Ltd, Infosys Ltd., and Reliance Industries Ltd. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global Economy:

Canada recorded a bigger-than-expected trade deficit of C$1.1 billion ($806 million) in August, its sixth consecutive monthly shortfall, as imports rose while exports declined. Total exports fell 1% in the month, mainly on lower crude oil prices, and pulp and paper exports. Imports in the month were up 0.3%, driven by motor vehicles and parts, as well as industrial machinery, equipment and parts. By volume, exports rose 0.1%, indicating softer prices of exported goods, and imports were up by 0.4%. The U.S. trade deficit narrowed sharply in August as exports increased to a record high, suggesting trade could have little or no impact on economic growth in the third quarter.The smallerthan-expected trade gap reported by the Commerce Department on Tuesday added to data on the labor market and consumer spending in suggesting that the economy remained on solid footing last quarter.The economy's strength likely has no impact on expectations that the Federal Reserve will cut interest rates again next month. It, however, reinforced views that the U.S. central bank did not need to pursue another halfpercentage point rate reduction

Commodities:

Gold prices remain steady ahead of the release of the Federal Reserve's September meeting minutes. Traders anticipate signals on U.S. interest rate policies and are also eyeing upcoming CPI and PPI reports. Oil prices rose in Asian trade on Wednesday, recouping some of the prior session’s steep losses, although signs of an outsized build in U.S. inventories limited gains.

Currency:

The dollar drifted sideways on Wednesday, giving some relief to the yen and other major currencies after a sharp rally to a seven-week high last week, as investors paused to assess the interest rate path outlook for the US.

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