23 August 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar near 9-month highs on COVID-19 worries; Aussie, kiwi wilt
- Asia-Pacific markets rise; Hong Kong’s Hang Seng in bear territory
- Oil prices rebound from 7-day losing streak as investors snap up bargains
The safe-haven dollar traded near its highest in more than nine months against major peers on Monday, while commodity currencies like the Aussie languished amid worries that the Delta coronavirus variant could derail the global economic recovery.
The dollar index, which measures the currency against six peers, was little changed at 93.468 from Friday, when it climbed as high as 93.734 for the first time since Nov. 4. The Aussie edged 0.1% higher to $0.7145, but remained close to Friday’s 9 1/2-month low of $0.71065. New Zealand’s kiwi slipped 0.09% to $0.6834, nearing the 9 1/2-month of $0.6807 reached Friday, as the nation struggles to contain a new outbreak.
The yen, another safe haven, was largely unchanged at 109.835 per dollar, consolidating in the centre of the trading range of the past month and a half. The euro was almost flat at $1.1697, off Friday’s 9 1/2-month trough of $1.1664.
Stocks in Asia-Pacific rose in Monday morning trade, as investors look ahead to the Hong Kong open after the Hang Seng index plunged into a bear market last week.
The Nikkei 225 in Japan rose 0.99% in early trade while the Topix index jumped 1.29%. South Korea’s Kospi gained 0.78%. In Australia, the S&P/ASX 200 edged 0.31% higher. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.23% higher.
Oil prices reversed out of a seven-day losing stretch on Monday as investors punted on crude at bargain levels, though lingering fears over how a surge in globalCOVID-19 cases might affect fuel demand combined with a firmer U.S. dollar to limit gains.
Brent crude futures climbed 60 cents, or 0.9%, to $65.78 a barrel , after hitting the lowest level since May 21 of $64.60 earlier in the session. U.S. West Texas Intermediate (WTI) crude futures for October rose 53 cents, or 0.9%, to $62.67 a barrel, recovering from $61.74, the lowest since May 21, touched in Asia’s early trade.
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Disclaimer : All information in this report is collected from various sites on internet. Although we have taken all precautions for correct representation of data however we do not take any responsibility for any errors and omissions. The technical analysis and views expressed is authors own views. We are not responsible for any losses on account of following the same.