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Market Review

US equity indices ended with little gains after latest strong job numbers weakened the hopes for a second big rate cut by the Federal Reserve.

Asian markets showed a mixed performance, reflecting varied investor sentiment across the region.

The Indian benchmark equity indices extended their fall to a third session on Tuesday as shares of heavyweights RIL and HDFC Bank weighed on them. Market is expected to open gap down note and likely to witness volatile move during the day.

Japanese markets, particularly the foreign exchanges, continue to digest the rather blunt comments on monetary policy from new PM Shigeru Ishiba after he met with Bank of Japan governor Kazuo Ueda on Wed. "I do not believe that we are in an environment that would require us to raise interest rates further," Ishiba said, sparking a huge wave of yen selling.

The yen shed almost 2% against the dollar on Wednesday, its biggest fall since Feb last year. Excluding the pandemic-related volatility of March 2020, it was one of the steepest declines in over a decade.

U.S. private payrolls increased more than expected in Sep, boosted by hiring in the construction, leisure and hospitality industries, adding to the evidence of a stable labor market. There were 1.13 job openings for every unemployed person in Aug compared to 1.08 in July. Private payrolls increased by 143,000 jobs last month after rising by an upwardly revised 103,000 in Aug.

US Gold holds steady amid Middle East turmoil, eyeing US economic data Gold held steady on Thursday, as traders focused on developments in the Middle East conflict and anticipated key US economic data that may provide clues about the rate cuts expected later in the year.

Oil prices ticked higher in early trade on Thursday as investors weighed the escalating conflict in the Middle East and the potential for disruption to crude flows, against an amplysupplied global market.

The dollar rose to a one-month high versus the yen on Thursday as robustness in the U.S. jobs market backed the idea that the Federal Reserve does not need to rush to cut interest rates.

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