World Markets
06 January 2022
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar cuts losses after Fed minutes
- Asia-Pacific stocks decline following overnight Wall Street losses
- Oil rallies even as OPEC+ boosts output, U.S. fuel demand dips
Indian rupee
The Indian rupee is expected to weaken against the dollar after U.S. equities plunged and Treasury yields climbed following the minutes of the Federal Reserve’s meeting last month.
The rupee is tipped at around 74.46-74.48 in initial trades compared with 74.36 yesterday.
Currency
The dollar fell on Wednesday but pared losses after minutes released from the Federal Reserve’s December meeting showed the U.S. central bank may need to act more quickly in hiking interest rates to combat inflation.
The dollar index fell 0.164%, after dropping as much as 0.44% on the session, with the euro up 0.23% at $1.1311. The Japanese yen strengthened 0.07% versus the greenback at 116.06 per dollar, while sterling was last trading at $1.3559, up 0.20% on the day.
Equity
Shares in Asia-Pacific declined in Thursday trade following losses overnight that saw the Dow Jones Industrial Average notching its first decline of 2022.
In Japan, the Nikkei 225 slipped 1.56% as it led losses among the region’s major markets, while the Topix index dipped 1.02%. Hong Kong’s Hang Seng index shed 0.17%. The Shanghai composite in mainland China declined 0.34% while the Shenzhen component slipped 0.577%. South Korea’s Kospi fell 0.55%. In Australia, the S&P/ASX 200 fell 1.29%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.6% lower.
Oil
Oil prices rose on Wednesday, extending gains even after OPEC+ producers stuck to an agreed output target rise for February and U.S. fuel inventories surged due to sliding demand as COVID-19 cases spiked.
Brent crude futures ended up 80 cents, or 1%, to $80.80 a barrel. U.S. West Texas Intermediate (WTI) crude futures closed up 86 cents, or 1.1%, to $77.85.
Economic Events
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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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