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Market Review

US:

US stocks moved higher on Monday as investors set their sights on inflation data later this week to provide a reality check on the chances of a jumbo interest-rate cut next week.

Asia:

Asia stocks rose on Tuesday, buoyed by expectations of a U.S. rate cut as early as next week, even as political upheavals around the world kept currency and bond investors on edge.

India:

The benchmark Indian equity indices gave up most of their gains towards the end of the session but still managed to close higher on Monday. Market is expected to open on a positive note and likely to witness positive move during the day.

Global economy:

The latest data on consumer credit reveals an impressive surge, surpassing both expectations and previous figures. The actual value of outstanding consumer credit that requires installment payments has reached $16.01 bn, demonstrating a robust increase in consumer spending and confidence. This actual figure of $16.01 bn significantly overshadows the forecasted figure of $10.40 billion. The substantial deviation from the forecast indicates a strongerthan-expected performance of the consumer credit sector, suggesting an upswing in the economy.

U.S. tariffs on Japanese goods including cars and auto parts are set to be lowered by Sep 16, Japan’s tariff negotiator Ryosei Akazawa said in an X post. Citing a U.S. Fed Register document dated Sep 9 that formalised Trump’s executive order on the U.S.-Japan trade deal, Akazawa said the revised tariff rates on Japanese goods will take effect within seven days from its publication.

Commodities:

Oil prices gained on Tuesday after OPEC+ decided to increase production by less than what market participants had anticipated, while concerns over tighter supply due to potential new sanctions on Russia continued to lend support.

Gold reached another record on Tuesday, with its rally stoked by a surge in bets for a wave of Fed Reserve rate cuts this year.

Currency:

The dollar sank to an almost seven-week low on Tuesday as investors braced for U.S. data revisions that could show the jobs markets in worse shape than initially thought, shoring up the case for even deeper Fedl Reserve interest rate cuts.

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