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Market Review

US:

U.S. stocks were lower after the close on Monday, as losses in the Consumer Goods, Technology and Consumer Services sectors led shares lower.

Asia:

Asian shares rose on Tuesday, led by a stronger Chinese opening and shaking off the initial drag from tech-driven Wall Street losses, while the dollar stayed at multiweek lows against other major currencies.

India:

Domestic equity markets closed in the red on Monday. Sensex gave up 48,000 and tanked 882 points to close at 47,949. Nifty ended at 14,359. Dr Reddy’s and Infosys were the only Sensex gainers. Among other sectoral indices, only Nifty Pharma closed the day with gains. Broader markets fared worse than the benchmark indices. Market is expected to open gap up and likely to witness positive move during the day

Economy:

Canadian housing starts rose 21.6% in March compared with the previous month, easily beating expectations and hitting a new record.The seasonally adjusted annualized rate of housing starts rose to 335,200 units in March, well ahead of analyst expectations for 250,000 units, and a new high for all months on record. China faces huge structural problems in its economy as the government fell back to its old playbook of investment-driven growth last year, said Zhu Min, a former deputy MD of the IMF. Australia’s economic recovery has surpassed all expectations with an "above-trend" expansion likely this year and next, though the country's central bank is still in no hurry to tighten policy settings.The Reserve Bank of Australia (RBA) left rates at a record low 0.1% at its Apr. 6 meeting while reiterating its commitment to keep policy accommodative for as long as is necessary to pull down unemployment and push inflation higher.

Commodities:

Oil prices rose on Tuesday as a weaker U.S. dollar supported commodities and on expectations that crude inventories fell in the United States, the world's biggest oil user, though rising coronavirus cases in Asia capped gains. Gold prices edged lower on Tuesday, moving away from a seven-week high hit in the last session, as a rebound in U.S. Treasury yields overshadowed support from a sagging dollar

Currency:

The dollar wallowed near a six-week low against its peers on Tuesday as the euro led a rally on the back of a brightening outlook for the region's vaccination programme.

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