Market is expected to open on a gap up note and likely to witness positive move during the day - Nirmal Bang Ltd
Market Review
US:
US stocks moved higher on Thursday after President Trump said he plans to introduce reciprocal tariffs but delayed their implementation, while investors digested another report that suggested inflation is once again heating up.
Asia:
Asia-Pacific moved largely higher on Friday, after Trump signed a reciprocal tariffs plan but did not impose them immediately.
India:
Markets gave up early gains and ended trading session on a flat note. Market is expected to open on a gap up note and likely to witness positive move during the day.
Global economy:
: A decrease was reported in the amount of natural gas held in underground storage over the past week, which has a significant impact on the Canadian dollar due to Canada's substantial energy sector showed a decline of 100 bn cubic feet. This decline is smaller than the forecasted decrease of 90 bn cubic feet, indicating a weaker demand than expected
The U.K. economy unexpectedly grew in the final quarter of last year, ruling out the possibility of the economy falling into recession early in 2025, but the outlook still looks lackluster. U.K. GDP expanded by 0.1% in the fourth quarter, after failing to grow in the prior quarter. On an annual basis, the U.K. economy grew by 1.4%, an improvement from the revised 1.0% growth over the previous three months.
Singapore's GDP growth in the final quarter last year eased slightly versus the preceding three months. Nonetheless, the full year ended with a growth of 4.4%, an acceleration over 1.8% chalked up in 2023.
Commodities:
Oil prices rose slightly in Asian trade on Friday, and were set to snap three straight weeks of losses amid relief that Trump did not immediately impose reciprocal tariffs as initially threatened.
Gold prices held steady on Friday, and were poised for a seventh consecutive weekly gain, as U.S. President Trump's plans to impose reciprocal tariffs on every country taxing U.S. imports fuelled concerns of a global trade war.
Currency:
The Canadian dollar strengthened to a two-month high against its U.S. counterpart, as U.S. bond yields declined and a key level of support for the American currency gave way.
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