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Market Review

US:

US markets finished near unchanged after the Federal Reserve left interest rates unchanged amid ongoing economic uncertainty, while investors monitored developments in the escalating conflict in the Middle East.

Asia:

Asian equities dipped on Thursday after Federal Reserve Chair Jerome Powell said he expected inflation to pickup meaningfully in the coming months.

India:

Indian benchmark indices recovered from early losses to trade in positive territory on Wednesday, driven by gains in financial and auto stocks, despite lingering global uncertainty due to escalating Middle East tensions and elevated crude oil prices. Market is expected to open on a negative note and likely to witness range bound move during the day.

Global economy:

The FOMC on 18 June 2025 decided to keep the benchmark interest rates unchanged at 4.25% to 4.5%. The officials have revised their 2026 outlook to only 25 bps of rate cuts, down from the previously projected 50 basis points.

Australia’s job market unexpectedly shrank in May, while the unemployment rate remained steady, reflecting that the labor market was cooling, which could provide more room for the Reserve Bank of Australia to cut rates. The total number of employed people fell by 2,500 in May, in contrast with a 87,600 jump in April. The unexpected fall compared to expectations for a growth of 20,600.

British house price growth decreased to 3.5% in April, down from 7.0% in March. The slowdown in annual house price growth coincided with an increase in property transaction taxes that took effect in April. The data shows the rate of house price growth in Britain halved during the month when the tax changes were implemented.

Commodities:

Oil prices experienced a slight dip on Thursday due to investor uncertainty following President Trump's ambiguous statements regarding potential U.S. involvement in the Israel-Iran conflict. Brent crude futures fell by 0.48% to $76.33 a barre

Gold prices saw a slight increase due to safe-haven demand amidst Middle East tensions, although gains were limited by the Federal Reserve's indication of a slower approach to future rate cuts

Currency:

Dollar falls as risk of dovish Fed offsets boost from oil.

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