16 September 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar sluggish as traders bide time before Fed meeting; kiwi jumps
- Asian shares fall again, dollar drifts
Oil slips but holds to most gains after draw in U.S. stocks
The dollar drifted near the middle of its range of the past month versus major peers on Thursday, as traders looked to next week’s Federal Reserve policy meeting for indications on how soon the U.S central bank will start to taper stimulus.
The New Zealand dollar jumped after the economy grew at a much faster pace than expected, reinforcing the view that the central bank will start lifting interest rates despite a recent outbreak of the coronavirus. The kiwi was 0.23% higher at $0.7125, after briefly surging as much as 0.47%.
The dollar index, which measures the currency against six rivals, was at 92.483, little changed from Wednesday. The dollar bought 109.33 yen, little changed from Wednesday, when it slid to a six-week low of 109.110. The euro was flat at $1.1816, consolidating between the month’s high and low of $1.1909 and $1.17705.
Asian shares gave up early gains to fall again on Thursday, weighed by declines in China and Hong Kong, even after a strong lead-in from Wall Street which had also pushed the dollar to the lower end of its recent range.
MSCI’s broadest index of Asia-Pacific shares outside Japan was last down 0.45%, while Japan’s Nikkei, shed 0.47%, after hitting 31-year high it hit on Monday. The broader Hang Seng index in Hong Kong shed 0.12%. In mainland China, the Shanghai composite climbed 0.49% while the Shenzhen component hovered above the flatline. The Nikkei 225 in Japan slipped about 0.1% while the Topix index fell 0.15%. South Korea’s Kospi edged 0.47% lower. In Australia, the S&P/ASX 200 advanced 0.69%.
Overnight stateside, the Dow Jones Industrial Average jumped 236.82 points to 34,814.39 while the S&P 500 gained 0.85% to 4,480.70. The Nasdaq Composite advanced 0.82% to 15,161.53.
Oil prices slipped on Thursday, but kept most of the previous day’s gains after a larger-than-expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer.
Brent crude oil fell 13 cents, or 0.2%, to $75.33 a barrel, after settling up 2.5% the previous day. U.S. West Texas Intermediate (WTI) crude slipped 12 cents, or 0.2%, to $72.49, after settling 3.1% higher on Wednesday.
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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.