The Indian markets are closed today in observance of Gandhi Jayanti.On Tuesday, the benchmark indices, Sensex and Nifty, experienced volatility before closing slightly lower. The Indian rupee depreciated by 3 paise, settling at 83.82 against the US dollar.Asian stocks exhibited mixed performance this morning. Hong Kong markets continued their surge from Monday, whereas Japan’s Nikkei index fell sharply, driven by uncertainty surrounding the Bank of Japan’s policy outlook.Early today, Iran announced the cessation of its missile attack on Israel, contingent on no further provocation. Concurrently, both Israel and the United States have indicated their intent to respond to Tehran’s escalation.In Asian trading, oil prices surged by 1.5% following a more than 2% increase on Tuesday. The US dollar remained strong, while gold prices stabilized after increasing by over 1% on Tuesday amid heightened safe-haven demand.US stock markets declined overnight following Iran’s missile retaliation against Israel, which was in response to Israel’s military actions targeting Hezbollah, Tehran’s ally in Lebanon.Additionally, market sentiment was dampened by concerns over the economic repercussions of a potential strike by dockworkers at US seaports on the East and Gulf Coasts, coupled with weak manufacturing data.The NASDAQ Composite fell by 1.5%, the S&P 500 declined by 0.9%, and the Dow Jones Industrial Average dropped by 0.4%.European stocks turned negative on Tuesday as fears of a broader Middle East conflict escalated, counterbalancing the positive development of Eurozone inflation falling below the ECB’s 2% target for the first time in three years.The pan-European STOXX 600 index decreased by 0.4%. Germany’s DAX dropped by 0.6%, France’s CAC 40 fell by 0.8%, while the UK’s FTSE 100 managed a gain of 0.5%.The material has been provided by InstaForex Company – www.instaforex.com
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