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Market Review

US: U.S. stocks closed slightly higher on Monday as investors awaited guidance from a host of Federal Reserve policymakers later in the week on the central bank's policy path, with a large amount of bond supply also due to hit the market.

Asia: Asian stocks retreated on Tuesday after four straight days of gains as investors awaited more economic cues from China and Australia, while South Korean shares saw a heavy dose of profit taking.

India: Equity benchmark indices continued to rally for the third straight session on Monday amid favourable trends in global markets. The 30-share BSE Sensex jumped 471.45 points to 64,835.23 points in early trade. The Nifty climbed 126.75 points to 19,357.35 points.. Market is expected to open on a flattish note and likely to witness sideways move during the day.

Global Economy: Japan's real wages slipped in September for an 18th month, while consumer spending extended a months-long decline, with rising prices squeezing households' purchasing power, and likely to add to pressure from labour groups for higher wage increases. Inflation-adjusted real wages, a barometer of consumer purchasing power, dropped in September by 2.4% from a year earlier after a revised 2.8% fall the month before.

Canadian economic activity expanded at a slightly faster pace in October as a measure of prices fell to its lowest level in six months PMI data showed.The seasonally adjusted index rose to 53.4 from 53.1 in September.

Commodities: Gold inched lower in early Asian hours on Tuesday as the dollar staged a rebound, although bullion prices were stuck in a tight range with investors staying on the sidelines ahead of comments from Federal Reserve officials including Chair Jerome Powell.

Oil prices eased on Tuesday, giving up most of the gains from the previous day, on concerns over weak demand in China, with investors focusing on trade data due later in the day to gauge demand from the world's second-largest oil consumer.

Currency: The dollar was steady on Tuesday, holding overnight gains as investors took a breather from a risk rally, while the Australian currency drifted lower ahead of a central bank interest rates decision later in the day.

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