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Market Review

US:

U.S. stocks rose Monday following fresh developments in the economic faceoff between the U.S. and China.

Asia:

Asia stocks climbed on Tuesday while the dollar was on the back foot as investors bet the U.S. Federal Reserve would resume its easing cycle this week and potentially leave the door open to further rate cuts.

India:

The Indian stock market ended on a negative note, snapping its recent winning streak as both the Sensex and Nifty 50 posted mild declines by market close. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global:

New Zealand home prices edged lower in August, as prospective buyers remained cautious despite aggressive interest rate cuts from the central bank to spur the economy. Seasonally adjusted median house prices dipped 1.3% from July, and were 0.5% lower on the previous year. Seasonally adjusted national home sales fell 4.5% from July, but were up 0.6% from August 2024.

Croatia’s consumer prices increased 4.1% year-on-year in August, confirming the earlier flash estimate. On a monthly basis, consumer prices showed a modest increase of 0.1% on average. The annual inflation was primarily driven by higher costs in housing, utilities, and food. These increases were partially offset by lower prices in transport, clothing, and communications sectors, the statistics office reported. Services recorded the highest inflation rate at 6.4% compared to the same period last year. Food, beverages, and tobacco followed closely with a 6.2% increase. Energy prices rose by 2.5%, while non-energy industrial goods saw the smallest increase at 0.5%.

Commodities:

Oil prices held steady in early trade on Tuesday after rising in the previous session, as market participants contemplated potential supply disruption from Russia after Ukrainian drone attacks on its refineries.

Gold prices surged to a record high on Tuesday, buoyed by a weakening dollar ahead of the Federal Reserve's anticipated policy meeting.

Currency:

The dollar traded near a 2-1/2 month low against the euro and close to a 10-month trough versus the risk-sensitive Aussie on Tuesday as investors cemented bets for a Federal Reserve interest rate cut this week and more to follow.

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