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Market Review

US:

US stocks slipped on Tuesday, as investors become cautious ahead of the Federal Reserve's interest rate decision following strong retail sales data.

Asia:

Asian shares turned higher, shrugging off Wall Street’s modest declines as traders braced for the Federal Reserve’s final policy decision of the year.

India:

Indian benchmark equity indices witnessed heavy selling pressure in trade on Tuesday, extending losses to the second straight session Market is expected to open on a negative note and likely to witness range bound move during the day.

Global economy:

Japan’s trade balance unexpectedly improved in November on support from stronger-than-expected exports, as demand in the U.S. and China improved and as a softer yen also helped. Trade balance was a deficit of 117.6 billion yen ($770 million), government data showed on Wednesday. The reading was stronger than expectations for a deficit of 688.9 billion yen, and also improved from October’s deficit of 462.1 billion yen. The improved trade balance was driven chiefly by stronger-than-expected exports, which rose 3.8% year-on-year in November against expectations of 2.8%. Growth also picked up from the 3.1% seen in the prior month..

US industrial production saw a slight decline according to recent data, marking a continued slowdown in the manufacturing sector. The actual figure came in at a decrease of 0.1%, providing a less dismal picture than the anticipated decline of 0.3%.This data, which measures the inflation-adjusted value of output from manufacturers, mines, and utilities, is a key indicator of the health of the industrial sector. A higher reading is typically bullish for the US dollar, while a lower reading is bearish.

Commodities:

Oil prices traded in a narrow range early on Wednesday as investors remained cautious ahead of an expected interest rate cut by the U.S. Federal Reserve.

Gold prices firmed on Wednesday as investors held back from taking big positions ahead of the Federal Reserve's upcoming monetary policy decision.

Currency:

The U.S. dollar held steady against the yen and other major rivals on Wednesday as investors waited to see whether the Federal Reserve will deliver a hawkish cut before the Bank of Japan and other central banks meet this week.

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