Gold prices experienced a slight dip due to a stronger dollar, as investors are keenly awaiting further developments in U.S. trade policies and the upcoming U.S. non-farm payrolls report. The market anticipates the jobs report for insights into the Federal Reserve s monetary policy direction, amidst ongoing trade negotiations and recent economic contractions.

The dollar stabilized despite weak U.S. data, buoyed by hopes of easing trade tensions, particularly with China. Investors are closely watching upcoming U.S. jobs data and the Bank of Japan s meeting, as these events could influence currency valuations. The Australian dollar saw a slight increase due to inflation data, while the New Zealand dollar remained stable.

Oil prices experienced a slight rebound on Thursday after significant losses, influenced by indications that Saudi Arabia might increase production and a contraction in the U.S. economy during the first quarter. Concerns about trade disputes and OPEC+ s supply decisions continue to weigh on the market, leading to downward revisions in future price forecasts. U.S.

Japan s factory activity contracted for the tenth consecutive month in April, according to a private survey, due to weakened overseas demand and rising concerns over U.S. tariffs. The au Jibun Bank Japan Manufacturing PMI edged up slightly to 48.7, remaining below the 50.0 threshold.

Amid market uncertainty, investors seek clarity. Rana Gupta of Manulife Investment suggests focusing on domestic tailwinds. He favors consumer and financial sectors. Infrastructure and telecom are attractive in the short to medium term. Gupta anticipates credit growth. He expects globally linked sectors like IT and metals to face challenges. Earnings momentum in IT may remain soft for some time.

Meta Platforms exceeded first-quarter revenue expectations, driven by strong advertising performance, and anticipates similar success in the second quarter. The company is increasing capital expenditures to bolster AI infrastructure, despite economic uncertainties and potential tariff impacts. While some advertisers are reducing spending, Meta s reliable platform positions it to benefit from market instability, though regulatory challenges in Europe loom.

Indian companies are gearing up to release their Q4 earnings, with Adani Enterprises and Adani Ports among the key names. All eyes are on Eternal, formerly Zomato, which is expected to reveal strong revenue growth, fueled by Hyperpure and Blinkit. However, profitability might suffer, with analysts predicting a potential profit dip or even a loss.

A rare financial event occurred on April 11th as the U.S. and India 10-year government bond yield spread dipped below 2% for the first time. This compression, driven by factors like U.S. fiscal deficits and tariff war fears, grants the Reserve Bank of India greater independence in monetary policy.

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