World Markets
21 September 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar holds gains, yuan under pressure as Evergrande risks grow
- Asia markets fight to stabilise as Evergrande looms large
- Oil falls 2% on risk aversion, dollar strength
Currency
The offshore yuan wallowed near an almost one-month low on Tuesday while the safe-haven dollar and yen stood tall as investors sought shelter from a potential China Evergrande default.
The U.S. currency had already been rising on expectations the Federal Reserve will signal a start to stimulus tapering at a two-day policy meeting that ends Wednesday. The greenback was mostly flat at $1.17245 per euro after gaining to $1.1700 overnight, also a first since Aug. 23. The yen eased back about 0.2% to 128.50 to the single currency, but still close to its high of 128.155 from Monday, a level not seen since Aug. 20. The dollar rose 0.18% to 109.58 yen, trimming some of its overnight losses, but with the pair still meandering near the middle of the trading range of the past 2-1/2 months.
Equity
Shares in Asia-Pacific declined in Tuesday morning trade as investors continue to monitor the situation surrounding embattled developer China Evergrande Group.
Japanese stocks declined as they returned to trade following a Monday holiday. The Nikkei 225 dropped 1.84% while the Topix index shed 1.74%. Hong Kong’s Hang Seng index, which was dragged down by more than 3% on Monday amid investor fears around Evergrande, fell 0.79% in Tuesday morning trade. In Australia, the S&P/ASX 200 dipped 0.27%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.5% lower.
Oil
Oil prices fell 2% on Monday as investors grew more risk averse, which hurt stock markets and boosted the U.S. dollar, making oil more expensive for holders of other currencies
Brent crude fell $1.42, or 1.9%, to settle at $73.92 a barrel after sinking to a session low of $73.52. U.S. West Texas Intermediate (WTI) declined $1.68, or 2.3%, to end at $70.29 after falling to as low as $69.86.
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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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