Morning Report

Thursday, 7 June 2018

Asian shares rose to 2 1/2-month high on Thursday, supported by strong economic fundamentals, while expectations the European Central Bank could start to wind down its stimulus boosted the euro and global bond yields.

The Dow Jones Industrial Average rose 1.4 percent to 25,146.39, the S&P 500 gained 0.86 percent to 2,772.35 and the Nasdaq Composite added 0.67 percent to hit its record closing high of 7,689.24.

The 10-year U.S. Treasury yield hit a 1 1/2 week peak on Wednesday, after officials said the European Central Bank could wind down its stimulus program by the end of the year.

The dollar index against a basket of six major currencies was down 0.1 percent to 93.565. The People’s Bank of China (PBOC) set the Yuan reference rate at 6.3919 vs previous day’s fix of 6.4040.

Oil prices fell on fears of rising global supply after U.S. inventories rose unexpectedly and Saudi Arabia and other big producers signalled they may raise production.U.S. light crude settled 1.2 percent lower at $64.73 a barrel on Wednesday. The prices have bounced back since, with the WTI gaining 0.7 percent to $65.15.

Source : Reuters

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Prashanti Forex is managed by a certified treasury professional with an experience of more than 15 years in Finance and Advisory Business. His expertise come from various organisations, where he has gained knowledge and deep understanding of financial environment. His Principle Objective is providing customised advise with excellent service, committing a relationship based on integrity, understanding, honesty and trust. We are glad to offer you a boutique of services which will enable your organisation to enhance the profitability and efficiently manage the business risks. Our Services are : Treasury & Risk Management Solutions Trade Finance Wealth Management

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