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Market Review

US: US stock market retreated for a second straight session on Monday, easing further from a record high ahead of U.S. inflation data this week which could heavily influence the Federal Reserve's interest rate path.

Asia: Most Asian stocks kept to a tight range on Tuesday as markets remained cautious before key U.S. inflation data, while Japanese stocks saw extended losses amid more signs that the Bank of Japan will raise interest rates soon.

India: The Indian markets witnessed a turbulent day of trading as it failed to hold onto the record high achieved in morning trade, ultimately ending the day on a low note on Monday. Market is expected to open on a flattish note and likely to witness sideways move during the day.

Global Economy: Bank of Japan Governor Kazuo Ueda said that the economy is recovering moderately, but said there was some weakness seen in recent data. He also said the country was not at a stage where it could declare deflation as beaten despite some positive developments such as high wage hikes and record levels of companies' capital spending.

The United States have plans to employ $4 billion over five years including $2 billion to create a new international infrastructure fund to provide a credible, reliable alternative to Chinese infrastructure funding, Deputy Secretary of State for Management and Resources Rich Verma said.

Commodities: US gold prices were steady on Tuesday, as traders refrained from taking new positions after bullion's record run ahead of US consumer prices data that could offer clues on the Federal Reserve's monetary policy trajectory. Oil prices rose in early Asian trading, but price moves were limited as the market waited for monthly reports from oil agencies

Currency: The U.S. dollar slipped lower in early European trade Monday, trading near two-month lows ahead of the release of key U.S. inflation data for more clues over the timing of the start of the anticipated Federal Reserve rate-cutting cycle.

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