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Market Review

US:

Overnight in the US, all three major benchmarks hit record highs following Trump’s victory.

Asia:

Shares retreated in Asia early Thursday after U.S. stocks stormed to records as investors wagered on what Donald Trump’s return to the White House will mean for the economy and the world.

India:

The Indian equity indices are likely to open lower and remain volatile on Thursday amid mixed global market cues. Market is expected to open on a gap down note and likely to witness range bound move during the day.

Global Economy:

Australia’s trade balance shrank more than expected to a four-year low in September as the country’s key metal and mineral exports were pressured by weak demand in China, while imports also fell. Trade balance fell to a surplus of a $4.61 billion ($3.03 billion) in September, data from the Australian Bureau of Statistics showed on Thursday. The reading was weaker than expectations for a surplus of A$5.24 billion, and shrank from the A$5.64 billion seen in the prior month.

The United States' trade balance has taken a further hit, with the latest data revealing a deeper deficit than anticipated. The actual figure for the trade balance, which measures the diff in value between imported and exported goods and services, stands at -$84.4 bn. This figure not only overshadows the forecasted deficit of -$83.8 bn, but it also signifies a considerable increase compared to the previous reading of - $70.8 bn. The larger deficit implies that the U.S. imported more goods and services than it exported over the reported period.

Commodities:

Oil prices edged up on Thursday following a selloff triggered by the U.S. presidential election, as risks to oil supply from a Trump presidency and a hurricane building in the Gulf Coast outweighed a stronger U.S. dollar and higher inventories.

Gold prices struggled for momentum on Thursday, as dollar firmed after Donald Trump's election victory, while investors shifted focus to the Federal Reserve's upcoming rate cut decision.

Currency:

The dollar soared to a four-month high on Wednesday after Republican Donald Trump won the U.S. presidential election.

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