World Markets

World Markets

21 December 2021

World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.

  • Dollar on back foot as Treasury yields soften, Omicron keeps markets on edge
  • Shares in Asia-Pacific rose in Tuesday morning trade as investors assess omicron risks
  • Oil prices edge higher but investor worries on Omicron spread remain

World MarketsIndia Stock Market

The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a gap-up opening for the index in India with a 155 points gain.

On December 20, the BSE Sensex plunged 1,190 points, or 2.09 percent, to 55,822, while the Nifty50 declined 371 points, or 2.18 percent, to 16,614

Indian Rupee

The Indian rupee is expected to advance against the dollar today, tracking a recovery in Asian stocks and U.S. equity futures from losses prompted by worries around Omicron and inflation.

The rupee is tipped at around 75.80 in initial trades compared with 75.91 yesterday. The currency had its best session in almost three weeks yesterday on profit taking by dollar-long traders and exporter hedging

Currency

The dollar hovered below recent highs on Tuesday having lost ground overnight after a blow to Democratic spending plans in Washington, but worries about the Omicron coronavirus variant kept risk currencies in check.

The dollar index , which measures the currency against six major peers, was last at 96.513, having lost ground on both the euro and the yen .

The greenback briefly approached 16-month highs at 96.914 last week, after the U.S. Federal Reserve opened the door to as many as three interest rate increases in 2022, and then found support as worries about the Omicron strain caused investors to seek safety.

However, it pulled back on Monday, finishing the session down 0.12% after U.S. Senator Joe Manchin, a moderate Democrat who is key to President Joe Biden’s hopes of passing a $1.75 trillion domestic investment bill – known as Build Back Better – said on Sunday he would not support the package.

Equity

Shares in Asia-Pacific rose in Tuesday morning trade as investors continued to monitor the situation surrounding the omicron Covid variant.

Japanese stocks led gains regionally, with the Nikkei 225 in Japan rising 2.04% while the Topix index advanced 1.72%. South Korea’s Kospi climbed 0.36%. Mainland Chinese stocks rose, with the Shanghai composite up about 0.3% while the Shenzhen component advanced 0.424%. Hong Kong’s Hang Seng index gained about 0.4%.Shares in Australia also rose as the S&P/ASX 200 gained 0.43%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.48% higher.

Oil

Oil prices edged higher on Tuesday, though investors remained worried about the rapid spread of the Omicron coronavirus variant globally, prompting countries to consider more restrictions potentially denting fuel demand.

Brent crude futures increased by 9 cents, or 0.1%, to $71.61 a barrel , while U.S. West Texas Intermediate (WTI) crude futures rose by 23 cents, or 0.3%, to $68.84 a barrel.


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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.

 

Sources

https://www.reuters.com/

https://in.investing.com/