04 Aug 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar pressured ahead of jobs data; kiwi leaps as rate hikes loom
- Asia-Pacific stocks mixed; private survey shows Chinese services activity growth accelerating in July
- Oil drops for third day on concerns COVID-19 variant spread to cut demand
The dollar was pinned near recent lows against other currencies on Tuesday, as traders awaited U.S. jobs data for a guide to the rates outlook, while labour market strength lifted the kiwi in anticipation of a New Zealand rate hike within weeks.
New Zealand’s jobless rate unexpectedly fell to 4% last quarter, its lowest since December 2019, and the New Zealand dollar jumped 0.5% to a one-month high of $0.7056. Elsewhere currencies were broadly steady as markets looked ahead to partial U.S. labour data due later on Wednesday and non-farm payroll figures due on Friday. The dollar was a touch lower at $1.1870 per euro and the dollar index, which measures the greenback against six major rivals, held at 92.024.
Shares in Asia-Pacific were mixed in Wednesday morning trade, a private survey showed accelerating Chinese services activity growth in July.
Mainland Chinese stocks were higher in morning trade, with the Shanghai composite up 0.36% while the Shenzhen component advanced 0.341%. Hong Kong’s Hang Seng index jumped 1.16%. The Caixin/Markit services Purchasing Managers’ Index for July came in at 54.9 on Wednesday, up from June’s reading of 50.3.
South Korea’s Kospi advanced 0.61%. In Australia, the S&P/ASX 200 gained 0.17%. Stocks in Japan lagged as the Nikkei 225 slipped 0.1% while the Topix index shed 0.21%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.58% higher. Overnight on Wall Street, the S&P 500 gained 0.82% to a new record closing high of 4,423.15 while the Dow Jones Industrial Average jumped 278.24 points to 35,116.40. The Nasdaq Composite advanced 0.55% to about 14,761.30.
Oil prices fell for a third day on Wednesday on mounting concerns that the increasing spread of the Delta variant of the coronavirus in top consuming countries will cut fuel demand.
Brent crude oil futures slid 22 cents, or 0.3%, to $72.19 a barrel. U.S. West Texas Intermediate (WTI) crude fell 33 cents, or 0.5%, to $70.23 a barrel.
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