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Global growth is forecast to moderate, partly due to the heightened uncertainty surrounding U.S. trade policy, and key economies like China, Europe and Canada are expected to loosen monetary policy significantly.

Chinese stimulus offered only a sliver of support. They drew some comfort from an outsized rate cut in Switzerland that saw the Aussie jump 1.3% on the Swiss franc, while an easing from the European Central Bank helped it firm on the euro.

Oil prices inched lower on Friday as investors focused on a forecast of ample supply and shrugged off expectations of higher demand next year from Chinese stimulus measures, while eyeing another Federal Reserve interest rate cut next week. Brent crude futures edged down 8 cents to $73.33 a barrel by 0125 GMT while U.S. West Texas Intermediate crude was at $69.95 a barrel, down 7 cents.

Equity indices ended lower on Thursday due to selling pressure in index majors as investors turned cautious ahead of the inflation data announcement. Stocks that were in focus include names like Ultratech Cement, which fell 0.8% and Bajaj Auto, which declined 1.05% and DMart, whose shares fell 0.4% on Thursday.

Peter Navarro, Trump's incoming senior counselor for trade and manufacturing, said the White House would not interfere with the Treasury Department's biannual review looking in to whether foreign trade partners are manipulating their currencies.

Gold prices were steady on Friday as investors refrained from making big bets, with attention turning to the Federal Reserve's upcoming decision on interest rates at next week's meeting.

Japanese and Australian shares declined and equity futures for Hong Kong signaled losses after selling on Wall Street hit stocks and government bonds Thursday. The Nasdaq 100 slid 0.7% while the S&P 500 fell 0.5% as traders weighed higher-than-expected jobless claims against too hot producer price data.

«We expect markets to trade in a range with a positive bias, on the back of easing retail inflation and favourable global cues,» said Siddhartha Khemka, Head — Research, Wealth Management, Motilal Oswal.

Tata Motors, RIL, HAL, Zomato, Jk Tyre, JSW Energy among others will be in focus due to various news developments. Tata Motors Tata Motors will increase prices on its trucks and buses by up to 2% starting January 1, 2025, the automobile giant said citing rising input costs.

HDFC Bank on Thursday said the Securities and Exchange Board of India (Sebi) has issued an administrative warning letter to the bank over certain compliance lapses touching upon the capital-markets domain. HDFC Bank said in an exchange filing that Sebi mentioned non-compliance with certain provisions of the merchant banking rules, capital and disclosure requirements and prohibition of insider trading regulations.

India's growth story may not have been as sparkling as China's but it's more balanced, thanks to its more judicious investment-consumption mix, Boston Consulting Group's global chief economist Philipp Carlsson-Szlezak said. «When you look at it carefully, China's growth has been very unbalanced-very much focused on capital accumulation, neglecting consumption. And that is now catching up with China,» he told ET in an interview. «To me, from afar at least, it looks like India is on a more balanced path. I presume you can do a lot more capital investment-both public and private. But the fact that consumption is already a significant share of output, to me, it looks much more balanced,» he added. However, additional tariffs on Chinese goods, as pledged by US president-elect Donald Trump, may not necessarily divert massive investments by global corporations away from China, he reckoned.

A senior official in Canada’s most populous province says that Ontario could bar American-made alcohol and restrict electricity to three U.S. states if President-elect Donald Trump imposes sweeping tariffs on all Canadian products

Texas winning the national championship next month would be bad news for BetMGM Sportsbook

Vancouver adopted a policy that could lead to it using bitcoin in city finances — prompted in part by the return of U.S. president-elect Donald Trump.

For someone used to getting his own way for most of his life, public hostility, repeated failure and relentless bad news must be terribly trying for Prime Minister Justin Trudeau. His government began in 2015 with high hopes and widespread good wishes. Now that it is all coming crashing down, he refuses to accept blame and either change course or resign — a personal shortcoming that has become a national problem.

The Biden administration has announced it is raising tariffs on solar wafers, polysilicon and some tungsten products from China to protect U.S. clean energy businesses

commerce secretary Sunil Barthwal said Thursday. He also said that the world needs to avoid protectionism, which creates more trade barriers and hinders movement of goods. Emphasising that one needs to avoid a mercantilist approach and should not bother too much about trade balance and imports, Barthwal said: «Because if the Indian economy is growing 7% and if the world is growing at 3-3.5% rate of growth then obviously India will be requiring more of consumption, more of imports and let me tell you that the role of imports in exports is also very, very important».

Biden administration plans to raise tariffs on solar wafers, polysilicon and some tungsten products from China to protect US clean energy businesses. The notice from the US Trade Representative's office said tariffs on Chinese-made solar wafers and polysilicon will rise to 50% from 25% and duties on certain tungsten products will increase from zero to 25%, effective on Jan. 1, following a review of Chinese trade practices under Section 301 of the 1974 Trade Act. The decision followed a public comment period after the USTR said in September that it was considering such actions.

Subscribe to enjoy similar stories. SINGAPORE : China’s leaders promised more government support for their struggling economy next year as they brace for the return of President-elect Donald Trump and another big showdown over trade. An annual gathering of top officials on the economy concluded with pledges to cut interest rates and boost government borrowing to pep up economic growth, according to a report by China’s state broadcaster Thursday.

President-elect Donald Trump is back in his hometown of New York where he's been honored as Time magazine’s Person of the Year and will ring the opening bell at the New York Stock Exchange

The European Central Bank is cutting interest rates by a quarter percentage point amid signs of weakening growth and concern about the impact of political chaos in France and the possibility of new U.S. import tariffs