Market is expected to open on a negative note and likely to witness range bound move during the day - Nirmal Bang Ltd
Market Review
US:
Wall Street stocks finished lower on Thursday, with the NASDAQ confirming it has been in a correction since December, weighed down by market jitters over the current uncertainty surrounding U.S. trade policy.
Asia:
Asian equities fell on Friday after Wall Street traders navigated falling stocks amid whipsawing tariff headlines.
India:
Benchmark equity indices continued their upward movement for the second consecutive session to settle in the green on Thursday. Market is expected to open on a negative note and likely to witness range bound move during the day.
Global economy:
The latest data reveals a significant increase in the U.S. Trade Balance deficit. The actual deficit for the reported period stands at a staggering -131.40B USD. This figure not only exceeds the forecasted deficit of -128.30B USD, but it also represents a clear uptick from the previous deficit of - 98.10B USD.
President Trump has put a temporary hold on new tariffs targeting imports from Canada and Mexico, but only for certain products and only for a short time. The pause lasts until April 2, after which, he warns, the “big one” will kick in. The decision follows what Trump described as “fruitful conversations” with Mexican President Claudia Sheinbaum, but his tone towards Canada was markedly different. He accused the country of unfair trade practices, calling it a “high-tariff nation.”
Commodities:
Oil prices were little changed on Friday but were set for their biggest weekly decline since October as the uncertainty around U.S. tariff policy is creating concerns about demand growth at the same time major producers are set to increase output.
Gold prices inched lower on Friday but were on track for a weekly rise as uncertainty around U.S. President Donald Trump's tariff plans firmed demand for bullion, while investors awaited for U.S. non-farm payrolls data later in the day.
Currency:
The U.S. dollar wallowed near a four-month low on Friday as ever-shifting tariff policies fanned uncertainty and increased concern about growth prospects for the world's largest economy.
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