World Markets
01 September 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar falls to more than 3-week low with payrolls in focus
- Asian shares down on slow-growth fear; dollar stays near three-week low
- Oil steady ahead of OPEC+ supply decision
Currency
The dollar fell to its lowest level in more than three-weeks against a basket of currencies on Tuesday, as investors looked to U.S. jobs figures later this week for insight into the possible path of U.S. Federal Reserve monetary policy.
The dollar index fell 0.065%, with the euro up 0.12% to $1.1809. The dollar hit a low of 92.395 on the day, its lowest level since Aug. 6 but is still up more than 0.6% for the month. Sterling strengthened to a two-week high of $1.3807, and was last trading at $1.3753, down 0.04% on the day. The Japanese yen weakened 0.04% versus the greenback at 109.96 per dollar.
Equity
Asian shares gave up some of their recent gains in cautious trading on Wednesday while the dollar inched back from three-week lows, as worries about slowing global growth in several markets returned to weigh on traders’ minds.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.40%, edging off a three-week high reached the day before while Japan’s Nikkei 225 bounced back strongly to stand 1.1% higher, despite weak July industrial output data. Hong Kong’s Hang Seng Index recovered and was up nearly 1% while China’s benchmark CSI300 Index widened losses to 0.37%. FTSE futures were trading 0.3% higher while E-mini futures for the S&P 500 index rose 0.35%.
Oil
Oil prices were stable on Wednesday ahead of an OPEC+ meeting, at which major producers will decide whether to go ahead with their plan to add supply while COVID-19 cases soar in Asia and U.S. refiners assess flood damage in the wake of Hurricane Ida.
U.S. West Texas Intermediate (WTI) crude futures inched up 7 cents, or 0.1%, to $68.57 a barrel , after falling 1% on Tuesday on expectations oil demand would drop as six refineries in Louisiana were shut after Hurricane Ida hit. Brent crude futures were up 5 cents at $71.70 a barrel, after losing 42 cents on Tuesday.
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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.
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