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Market Review

US:

US stocks ended higher on growing hopes of monetary easing.

Asia:

Most markets in Asia-Pacific were trading higher on Thursday morning after the US Federal Reserve Chair Jerome Powell's comments in press conference affirmed hopes of a rate cuts as soon as September. India: India's benchmark stock indices continued their gains for the fourth consecutive session to end at fresh record closing highs on Wednesday, ahead of the Federal Open Market Committee's meeting later in the day. Market is expected to open on a positive note and likely to witness range bound move during the day.

Global Economy:

Brazil's central bank kept interest rates unchanged at a second consecutive policy meeting, as expected, flagging a need for "more vigilance" in monetary policy due to worsening inflation expectations and recent market swings. The bank's rate-setting committee, known as Copom, held the Selic benchmark interest rate at 10.50% in a unanimous decision.Inflation has outpaced expectations and Brazil's currency has depreciated nearly 4% since the bank's last policy meeting in mid-June, flirting with more than two-year lows amid investor concerns about fiscal discipline. South Korea's exports rose at the fastest pace in six months in July on strong chip sales but missed market expectations, trade data showed on Thursday, amid worries about a sustained recovery in China demand. Overseas sales by Asia's fourthlargest economy rose 13.9% year-on-year to $57.49 billion, after a 5.1% rise the previous month and marking the fastest growth since January.

Commodities:

Gold prices reached a two-week high following indications from U.S. Federal Reserve Chair Jerome Powell of possible interest rate cuts by September. Oil prices rose in early Asian trading on Thursday, extending strong gains in the previous session after the killing of a Hamas leader in Iran raised the threat of a wider Middle East conflict and on signs of strong oil demand in the U.S.

Currency:

The Indian Rupee (INR) recovers on the decline of the US Dollar (USD) on Thursday.

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