Morning Report

Monday, June 11, 2018

Asia stocks shook off initial modest losses and edged up on Monday ahead of a U.S.-North Korea summit that might ease regional tensions, while investors also started to focus on key central bank meetings later this week. Stocks dipped after U.S. President Donald Trump backed out of a joint Group of Seven communique over the weekend, in a blow to the group’s efforts to show a united front.

The Federal Reserve holds a two-day meeting starting on June 12, and it is widely expected to raise interest rates for the second time this year. The focus is on whether the central bank will hint at raising rates a total of four times in 2018. The European Central Bank meets on June 14, when it could signal intentions to start unwinding its massive bond purchasing program.

The dollar index against a basket of six major currencies was 0.15 percent lower at 93.410. The People’s Bank of China (PBOC) set the Yuan reference rate at 6.4064 vs previous day’s fix of 6.4003.

Oil prices were mixed, caught between the downward pull of rising Russian production and U.S. oil drilling activity, and upward pressure from strong demand. Brent crude futures were up 0.1 percent at $76.55 a barrel. U.S. crude futures slipped 0.15 percent to $65.66 a barrel.

Published by prashanti forex

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

Leave a comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: