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Market Review

US:

US stocks closed relatively unchanged on Tuesday as Wall Street looked ahead to this week’s interest rate decision from the Federal Reserve.

Asia:

Asia-Pacific markets mostly fell on Wednesday as investors parsed China’s inflation data and awaited the Federal Reserve’s interest rate decision.

India:

: Benchmark stock market indices closed lower on Tuesday as investor's were cautious ahead of US Fed's policy decision and uncertainty over US-India trade deal. The market is expected to open on a negative note and likely to witness negative move during the day.

Global economy:

Chinese consumer inflation picked up slightly in November but still remained weak amid little economic relief, while pressure on the industrial sector saw producer inflation fall for a 38th consecutive month. Consumer price index inflation rose 0.7% year-on-year in November. The print was in line with expectations and accelerated from a 0.2% rise seen in the past month.

U.S. private payrolls increased by 4,750 on average per week in the four weeks ending on November 22, But the economy is still tipped to have shed jobs in October, as thousands of federal workers accepted buyout packages which would take them off government payrolls.

Hungary's consumer price inflation rate slowed to 3.8% yearon-year in November, The inflation figure was in line with market expectations and represents a decrease from the previous month rate.

Commodities: Oil held mostly steady in Asian trading on Wednesday, as investors weighed a sharp drop in U.S. crude stocks and awaited a potential rate cut by the Federal Reserve later in the day.

Gold prices dipped slightly on Wednesday. The U.S. dollar strengthened following robust jobs report data. This comes just before the Federal Reserve's anticipated interest rate cut. Investors are closely watching the Fed's policy meeting conclusion. Meanwhile, silver prices reached an all-time high. Platinum and palladium saw declines.

Currency: The dollar was broadly steady and moves in other currencies were muted ahead of a key Federal Reserve policy decision later in the day, where investors are wagering on a cut in what is likely to be one of the most fractious meetings in years.

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