Global Market: On the day of Nifty’s Weekly Expiry, good signs are being seen for the Indian market. Gift Nifty is doing a flat business. The long-short ratio of FII reached a one-month high. Most of them are trading in the Asian market. In the hope of tariff relief, the US markets saw a strong rise. Dow Jones increased by about 500 points and Nasdaq also increased by about one and a half percent.
US market status
Yesterday the market closed at a high level. Dow Jones rose about 500 points from the lowest level. S&P 500 and Nasdaq showed improvements after two days fall.
Due to improvement in market
Auto manufacturers got relief from the Trump administration. One month relief was given on the tariff issue. Auto manufacturers were relieved under the USMCA Agreement. The USMCA means the US-Mexico-Canada Agreement. USMCA was discussed during Trump’s first term. The White House can also provide relief to other industries. Canada and Mexico may also get relief in some agricultural products.
Canada’s reaction to tariff
We can remove the tariffs imposed on America. But first America will have to remove the tariff. Tariff will harm American people.
Dollar weakened
The dollar index fell below 105. The dollar index fell for the third consecutive day. The dollar index fell about 3.50% in three days. Germany will increase spending on defense and infrastructure. Germany’s statement led to a bounce in the euro.
This boom came from a weak dollar
Gold and silver increased for the third consecutive day. Gold on Comex reached close to $ 2930. Silver rose by 3% to above $ 33 on comex. In the international market, there was a lot of shopping in copper. Copper prices reached a 9 -month high. Copper prices crossed $ 4.76 per pound.
Pressure increased in crude oil
Prices came to a low of 6 months. Brent prices fell below $ 70. Brent reached the lowest level of September 2024. Yesterday Brent prices reached close to December 21. Morgan Stanley reduced his Brent target from $ 75 to $ 70 for the second quarter. Citigroup estimates that the price of Brent will fall to $ 60 per barrel.
Important events today
ECB’s decision on interest rates. US early unemployment claims and trade deficit figures will be released. It has speeches from Scott Besant and Fed Officers.
Asian market
Today, mixed business is being seen in Asian markets. The gift Nifty is trading with a gain of 65.00 points. Whereas, Nikkei is seen with an increase of 0.82 per cent to around 37,726.02. Meanwhile, the Straits Times shows an increase of 0.27 percent. Taiwan’s markets are trading at 22,760.69, declining 0.49 per cent. While Hang Seng is seen at the level of 24,170.54 with a strength of 2.44 per cent. Meanwhile, Kospi is trading 0.73 percent to 2,576.69. At the same time, Shanghai Composite is trading at 1,198.37 with a decline of 8.59 points, or 0.71 per cent.
