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Market Review

US:

US markets saw a relief rally thanks cooler-than-estimated inflation data, which reinforced trader conviction on Federal Reserve interest-rate cuts.

Asia:

Asian stocks surged and the dollar meandered on Monday as signs of easing trade tensions between China and the U.S. buoyed risk appetite, in a strong start to a week that will be headlined by central bank meetings and megacap earnings.

India:

On Friday, the Indian stock market ended lower on profit taking, ending its six-day gaining streak. Market is expected to open on a gap up note and likely to witness positive move during the day.

Global economy:

As Republican and Democratic lawmakers trade blame for the U.S. government shutdown, some have begun to worry that the impasse is ceding their authority over federal spending to an increasingly assertive President Donald Trump. The White House during the shutdown has frozen billions of dollars in funds meant for Democratic-led jurisdictions, sought to lay off thousands of federal workers and shifted money around to guarantee that military personnel and gun-carrying law enforcement officers will not see their pay disrupted.

The United States and Vietnam will finalise a trade agreement in the coming weeks that will maintain 20% tariffs on most Vietnamese goods but lift duties on certain products that will be decided at a later stage, the White House said on Sunday. In return Vietnam committed to offering "preferential access" for most all U.S. goods.

A leading indicator of Japan’s service-sector inflation perked up for the second straight month in September, backing up the central bank’s view that rising labour costs will help keep inflation sustainably around its 2% target. The services producer price index, which tracks the price companies charge each other for services, rose 3.0% in September from a year earlier, Bank of Japan data showed, accelerating from a 2.7% gain in August.

Commodities:

Oil prices rose in early trade on Monday after U.S. and Chinese economic officials sketched out a trade-deal framework, easing fears that tariffs and export curbs between the world's top two oil consumers could dent global economic growth.

Gold prices fell on Monday, as a stronger dollar and signs of easing U.S.-China trade tensions weighed on the safe-haven metal, while investors awaited major central bank meetings later this week.

Currency:

The U.S. dollar rose to a more than two-week high against the yen on Monday at the start of a packed week of global trade negotiations and central bank meetings.

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