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Market Review

US: U.S stock indices recorded gains on Monday, even as the ongoing conflict between Hamas and Israel and a surge in oil prices created a backdrop of uncertainty.

Asia: Asian markets traded higher on Tuesday following overnight gains on Wall Street.

India: India's benchmark stock indices declined through Monday as the fear of a wider conflict rose between Israel and Hamas. Banks, media, and metal sectors dragged down the indices. Market is expected to open gap up and likely to witness positive move during the day

Global Economy: Mexico's annual inflation eased in September for the eighth consecutive month and stood at 4.45%, still above the central bank's target. Annual core inflation in September, considered a better gauge of price trends because it excludes some highly volatile items, was 5.76%, in line with market forecasts and the lowest in almost two years. However, inflation figures continue to exceed the Bank of Mexico's target of 3% plus or -1% point.

Chinese funds are seeking new capital sources in the Middle East and other markets, in a shift that could reshape investment flows as diplomatic tensions and other risks drive many U.S. investors out of the country.Seven China equity funds, including hedge funds and mutual funds, running more than $500 billion in combined assets.Mideast investors are also keen to allocate more resources to China as they can benefit from lower valuations and the effects of government stimulus to support the recovery.

Commodities: Gold prices hit a more than one-week high on Tuesday, a day after posting sharp gains on increased market uncertainty due to the Middle East conflict as dovish remarks from top U.S. Federal Reserve officials weighed on the dollar and bond yields.

Oil prices edged down slightly on Tuesday after gaining more than 4% in the previous session as markets weighed the potential for supply disruptions as the conflict between Israel and the Palestinian Islamist group Hamas continued

Currency: The dollar softened on Tuesday along with U.S. interest rate expectations and a fall in Treasury yields as investors detected a slight dovish shift in Federal Reserve officials’ tone. 

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