Friday, 22 June 2018

Asian shares were under pressure on Friday on signs U.S. trade battles with China and many other countries are starting to chip away at corporate profits, with oil prices choppy ahead of major producers meeting to discuss raising output.

On Wall Street, the Dow Jones Industrial Average fell for an eighth straight session on Thursday and the S&P 500 lost 0.63 percent. Nasdaq Composite  shed 0.88 percent.

India joined the European Union and China in retaliating against Trump’s tariffs on steel and aluminium, raising import duties on U.S. almonds by 20 percent and leveraging its position as the world’s biggest buyer of the product.

The 10-year U.S. Treasuries yield fell to 2.899 percent from Thursday’s high of 2.950 percent and its three-week high of 3.010 percent touched Wednesday last week.

The dollar index, which tracks the greenback against a basket of currencies, traded at 94.857.On Friday, the People’s Bank of China (PBOC) set the USD/ CNY reference rate at 6.4804 versus yesterday’s 6.4706.

Brent crude  traded at $74.11 a barrel, up about a dollar, or 1.45 percent on Friday, a day after it had fallen $1.69. U.S. West Texas Intermediate crude  for August delivery rose 92 cents to $66.46 per barrel.

Source : Reuters

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