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Market Review

US:

US stocks bounced back on Monday as investors looked beyond President Trump's latest tariff threats, including new levies on steel and aluminium imports.

Asia:

Stocks in Asia are set for a tepid open after Trump imposed 25% tariffs on all US imports of steel and aluminium. India: Benchmark equity indices ended the week's first trading session lower, dragged down by selling across the counters. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

Trump signed proclamations that raised the tariff rate on aluminium imports to 25% from the previous 10% that he imposed in 2018 to aid the struggling sector. His action reinstates a 25% tariff on millions of tons of steel imports and aluminum imports that had been entering the U.S. duty free under quota deals, exemptions and thousands of product exclusions. Australian consumer sentiment was largely unchanged in February after dropping in the previous two months reflecting a cautious economic outlook despite interest rate cut expectations. The consumer mood improved materially over the second half of 2024 but the recovery has stalled in the last three months as continued pressures on family finances and a more unsettled global backdrop have weighed against firming expectations of rate cuts domestically. The commercial property market in Germany has exhibited signs of stabilization following a 5.4% drop in prices in 2024. Despite the ongoing decline, the rate of decrease in 2024 was less severe compared to the 10.2% fall experienced in 2023. The real estate sector in Germany is currently grappling with its most severe crisis in decades.

Commodities:

Oil prices were steady on Tuesday as traders digested another round of trade tariffs, this time a 25% levy on all U.S. imports of steel and aluminum, which could weigh on global economic and energy demand in the world's biggest oil consumer. Gold prices hit fresh record Monday, shrugging off a rising dollar as after Trump announced more trade tariffs, this time aimed at commodity imports, boosting demand for the safehaven metal.

Currency:

The dollar firmed on Tuesday after U.S. President moved to substantially raise tariffs on steel and aluminium imports and said he would announce plans to impose reciprocal tariffs on other countries over the coming days.

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