31 December 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar ticks higher in thin trading on cautious economic optimism
- Global stocks retreat from gains as investors reassess COVID look-ahead
- Oil prices rise slightly ahead of OPEC+ meeting next week
The Indian rupee is expected to trade little changed to the dollar today after climbing above a key level in the previous session.
The rupee is tipped at around 74.40-74.45 after rising to a more-than-one-month high of 74.41 yesterday. After having dropped below 76 about two weeks back following the Federal Reserve’s policy decision, likely intervention by the Reserve Bank of India, an increase in exporter activity, and stop-loss dollar sales have helped the rupee stage a significant recovery.
The dollar ticked up against a basket of rival currencies in holiday-thinned trading on Thursday as a dip in weekly jobless claims data helped ease fears that a surge of COVID-19 infections would curb the economic recovery.
The dollar index , which measures the greenback against six major peers, was up 0.158% at 95.976, after having been negative in the overnight session. The yen touched 115.205 per dollar, its weakest in a month and not far off its November trough of 115.51. The euro was down 0.19% at $1.1325 after touching a one-month high on Wednesday. Sterling rose 0.13% to $1.3506.
Global stock markets reversed gains after a day-long rally on Thursday even as fresh U.S. economic data indicated that a recent uptick of Omicron COVID-19 variant-related infections has not yet led to a surge in layoffs, a positive sign for the economy.
The Hang Seng index in Hong Kong jumped 2.05% in morning trade. Mainland Chinese stocks were also higher, with the Shanghai composite up 0.47% while the Shenzhen component climbed 0.134%. the S&P/ASX 200 in Australia slipped 0.48%. Singapore’s Straits Times index gained 0.32%. MSCI’s broadest index of Asia-Pacific shares traded 0.67% higher.
Oil prices rose slightly on Thursday on expectations that fuel demand held up despite soaring Omicron coronavirus infections and that OPEC and its allies would continue to increase imports only incrementally.
Brent crude futures settled at $79.32 a barrel, up 9 cents, or 0.11%. U.S. crude futures rose 43 cents, or 0.56%, to settle at $76.9 a barrel, the seventh straight session 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.