01 October 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar near one-year high as Fed tightening in focus
- Asian stocks extend global slide as inflation fears bite
- Oil slips as OPEC+ weighs output boost for tight market
The dollar hovered near a one-year high versus major peers on Thursday, following a two-day surge amid expectations for a tapering of Federal Reserve stimulus from November and a possible interest rate hike in late 2022.
The dollar index – which measures the currency against a basket of six rivals – stood at 94.336, little changed from Wednesday, when it hit 94.435 for the first time since late September of last year.
The dollar bought 111.86 yen , easing slightly after reaching 112.05 overnight, a level not seen since February 2020. The euro was little changed at $1.1602, holding near Wednesday’s 14-month low of $1.15895.
Sterling edged up 0.1% to $1.34355 but remained near the nine-month low of $1.3412 reached overnight on concerns about soaring natural gas prices and almost a week of petrol shortages in Britain. The risk-sensitive Australian dollar rose 0.15% to $0.71855, after dipping to the lowest since Aug. 23 on Wednesday at $0.71705.
Asian equities followed Wall Street sharply lower and bonds rallied on Friday as risk sentiment soured amid growing worries that inflation may persist even after global growth has peaked.
Japan’s Nikkei tumbled 1.86%, while the broader Topix slid 1.95%. Australian stocks slumped 2.05% and South Korea’s Kospi lost 1.51%. An MSCI index of Asia-Pacific stocks dropped 1.07%. U.S. stock futures pointed to a 0.51% decline for the S&P 500, following a 1.19% drop in the index overnight. Nasdaq futures also signaled a 0.49% retreat, adding to Thursday’s 0.43% loss.
Oil prices dropped on Friday on the prospect that the OPEC+ supplier alliance might step up a planned increase in output to ease supply concerns, with soaring gas prices spurring power producers to switch from gas to oil.
U.S. West Texas Intermediate (WTI) crude futures slipped 5 cents to $74.98 a barrel , though the contract remained on track to post its sixth consecutive week of gains. Brent crude futures fell 7 cents, or 0.1%, to $78.24 a barrel, but was still heading for a small rise on the week, marking a fourth straight week of gains.
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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.