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Market Review:

US:

US stock market ended lower on Wednesday after the US Fed kept interest rates unchanged as expected and Fed Chair Jerome Powell offered soothing comments on the economy.

Asia:

Asian markets traded lower on Thursday following overnight losses on Wall Street after US Fed policy.

India:

Benchmark equity indices extended gains for the second consecutive session to settle in the green on Wednesday. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

New data indicates an unexpected rise in morale among Italian businesses and consumers in January. This development could potentially bolster the euro zone's third largest economy, which has seen a slowdown in recent months. The composite business morale index, which combines surveys from the manufacturing, retail, construction, and services sectors, was reported at 95.7 by the National Statistics Institute ISTAT. This is a slight increase from the 95.3 reported in December. Furthermore, consumer confidence has also seen a rise this month.

The German government's annual economic report predicts a 0.3% decline in exports by 2025. This forecasted decrease is attributed to a combination of weakening competitiveness and escalating geopolitical and trade tensions. The report indicates a potential downturn in Germany's export market. The country's competitiveness has been waning, and the situation is further exacerbated by increasing geopolitical disputes and trade tensions worldwide.

Commodities:

Oil prices were little changed in early trading on Thursday, as markets watched for tariffs by U.S. President Donald Trump on Mexico and Canada, the two largest suppliers of crude oil to United States.

Gold prices were flat in early Asian hours on Thursday after the Federal Reserve's decision to hold interest rates steady offered little clarity on the U.S. monetary policy path this year.

Currency:

Dollar bulls were ready to pounce on the euro on Thursday should the European Central Bank sound dovish on rates later in the day, given the Federal Reserve had pressed the pause button on its easing cycle overnight.

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