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Market Review

US:

U.S. stocks were lower after the close on Thursday, as losses in the Utilities, Technology and Industrials sectors led shares lower

Asia:

Asian share markets fell on Friday, after red-hot U.S. inflation data and hawkish comments from a Federal Reserve official fuelled bets on U.S. interest rates being hiked more aggressively, and sent U.S. Treasury yields jumping.

 India:

Domestic equity markets were trading on a firm note as RBI surprised positively by holding key repo rate in its bimonthly policy meet. Banks lead the gainers with IT trailing. Sensex takes winning run to 3rd day, gains 404 pts; Nifty settles near 17,600.Market is expected to open gap down and to witness profit booking during the day

Economy:

Japan's core consumer inflation likely slowed in January from the previous month, reinforcing expectations the country's central bank will lag well behind other economies in raising interest rates. CPI likely rose 0.3% in January from a year earlier, slowing from a 0.5% gain in December Saudi Arabia's gross domestic product grew by 6.8% in the fourth quarter, bringing overall growth last year to 3.3%.The quarter's growth was driven by a 10.8% rise in oil activities and a 5% increase in non-oil activities.. Government services increased by 2.4%. Already rapid house price growth in Britain hit a new six-month high in January but momentum in the housing market could soon fade because of a growing cost-of-living squeeze. The Royal Institution of Chartered Surveyors (RICS) said a net balance of +74% of its members reported a rise in house prices in January, up from +70% in December and its highest since July

Commodities:

Oil prices eased early on Friday as hot U.S. inflation fanned worries about aggressive interest rate hikes and as investors await the outcome of U.S.-Iran talks that could lead to increased global crude supply. Gold prices slipped on Friday, as a stronger-than-expected U.S. inflation reading and hawkish comments from a Federal Reserve official ramped up odds for a hefty interest rate hike next month, sending Treasury yields higher

Currency

The dollar was firm in Asia on Friday after hotterthan-expected U.S. inflation and hawkish comments from a Federal Reserve official unleashed a wave of bets on aggressive rate hikes, though similar pressures worldwide kept a lid on gains.

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