11 January 2022
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Indian Rupee hits two months high on Fund Inflows
- Dollar stagnates as traders wait on Powell for policy hints
- Asia-Pacific markets mostly lower as Japan’s Nikkei 225 declines 0.8%
- Oil prices fall on demand concerns and rising Libyan output
The Indian rupee is expected to trade little changed to the dollar amid losses in regional equities on concerns over the outlook for U.S. interest rates.
The rupee is tipped at around 74.04-74.06 in initial trades compared with 74.04 in the previous session. The local currency yesterday reached a two-month high, thanks to supportive fund inflows.
India Stock Market
The market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with an 69-point loss.
The BSE Sensex jumped 650.98 points to close at 60,395.63, while the Nifty50 closed above crucial 18,000 mark, rising 190.60 points to 18,003.30
The U.S. dollar hovered near the middle of its recent range against major peers on Tuesday as traders looked to incumbent Fed Chair Jerome Powell’s nomination hearing later in the day for new clues on the timing and pace of policy normalisation.
The dollar index, which measures the currency against six counterparts, hovered around 95.93 early in the Asian session. The dollar was little changed at 115.23 yen after bouncing off a one-week low of 115.045 overnight. The euro was about flat at $1.13325, stuck in the middle of its trading range since mid-November. Sterling was stable at $1.35825 after easing back from Monday’s two-month high of $1.36025.
Asia-Pacific markets mostly fell across the board on Tuesday as investors remain concerned about inflation as well as likely policy tightening from central banks such as the U.S. Federal Reserve.
Japan’s Nikkei 225 declined 0.83% while the Topix index was down 0.8%. South Korea’s Kospi gave up early gains and traded down 0.07%. The Kosdaq extended losses and was down 1.12%. In Hong Kong, the Hang Seng index fell 0.28%. Chinese mainland shares bucked the downward trend and inched higher: The Shenzhen component rose 0.12%. ASX 200 in Australia fell 0.7%
Oil prices fell Monday as concerns about demand fears stoked by the rapid global rise in Omicron coronavirus infections overtook concerns about oil supply reduction from Kazakhstan.
Brent crude fell 88 cents, or 1.1%, to settle at $80.87 a barrel. U.S. West Texas Intermediate (WTI) crude was down 67 cents, or 0.9%, at $78.23.
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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.