06 October 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar firm ahead of payrolls; kiwi shrugs off rate hike
- Asia-Pacific stocks struggle for direction
- U.S. oil rises to highest since 2014 amid global energy crunch
The dollar inched higher in choppy trade on Wednesday amid heightened nerves about the global growth outlook and as traders awaited U.S. jobs data for a clue on the timing of Federal Reserve policy tightening.
The Reserve Bank of New Zealand lifted its official cash rate for the first time in seven years, but the well-telegraphed hike was expected and the New Zealand dollar barely budged. The kiwi was last 0.3% weaker at $0.6931.
The euro was pinned below $1.16 and last bought $1.1590, scarcely higher than the 14-month low of $1.1563 it struck last week. The yen eased to a one-week low of 111.64 per dollar and was within range of the 18-month trough of 112.08 that it visited last Thursday. The Australian dollar weakened 0.3% to $0.7267.
Shares in Asia-Pacific were mixed in Wednesday trade, following an overnight bounce on Wall Street with stocks rebounding from Monday’s losses.
In Japan, the Nikkei 225 shed earlier gains to fall 0.18% while the Topix index advanced 0.4%. South Korea’s Kospi slipped 0.46%. Hong Kong’s Hang Seng index sat marginally higher. In Southeast Asia, the Straits Times index advanced 0.5%. Shares in Australia dipped, with the S&P/ASX 200 falling 0.29%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.07% lower.
Overnight stateside, the Dow Jones Industrial Average jumped 311.75 points to 34,314.67 while the S&P 500 jumped 1.05% to 4,345.72. The Nasdaq Composite advanced 1.25% to 14,433.83.
U.S. oil prices rose for a fifth day on Wednesday to their highest since 2014 amid global concerns about energy supply on signs of tightness in crude, natural gas and coal markets.
Brent crude prices also climbed for a fourth day on the supply anxiety, particularly after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, decided on Monday to say with their planned output increase rather than boosting it further.
U.S. West Texas Intermediate (WTI) oil earlier rose to $79.18 a barrel, the highest since Nov. 10, 2014. The market was up 0.15%, or 12 cents, at $79.05 a barrel. Brent crude added 0.15%, or 12 cents $82.68 a barrel after rising to a three-year high in the previous session.
Subscribe to our Newsletter
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.