World Markets

World Markets

20 January 2022

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

  • U.S. dollar weakens, but keeps positive outlook; sterling rises after UK data
  • Hong Kong’s Hang Seng index jumps as China cuts key lending rates
  • Oil up, settles near 7-year highs after Iraq-Turkey pipeline outage

World Markets

Indian Rupee

The rupee is expected little changed in early trade versus the dollar, as concerns persist about the Federal Reserve quickening the pace of interest rate increases amid inflation risks in the world’s biggest economy.

The rupee is seen at about 74.40-74.45 in initial trade, compared with 74.43 yesterday.

Currency

The dollar slid on Wednesday, with U.S. Treasury yields retreating as well after hitting roughly two-year peaks on 2-year and 10-year notes, but the greenback remains well-supported as investors prepared for a widely expected interest rate increase in March.

U.S. 10-year Treasury yields touched a new two-year high of 1.902% on Wednesday, but was last down 4 basis points at 1.8271%. Sterling, meanwhile, rose after data showed British inflation rose 5.4% in December, its highest level in 30 years, raising rate hike expectations

In afternoon trading, the dollar index was down 0.2% at 95.528.The euro, the largest component in the dollar index, was up 0.2% at $1.1348

Equity

Markets in Asia-Pacific were mixed on Thursday as China cut its key lending rates. Meanwhile, Wall Street fell with the Nasdaq closing in correction territory and U.S. yields retreating from their recent gains.

Mainland China markets rose in early trading, with the Shanghai composite rising 0.38%, and the Shenzhen component up 0.37%. Hong Kong’s Hang Seng index jumped 1.77%.

China on Thursday cut its one-year loan prime rate by 10 basis points, while its five-year LPR, which influences the pricing of home mortgages, was cut by 5 basis points, the first time since April 2020.Japan’s Nikkei 225 pared earlier gains, edging up 0.1%, while the Topix was up 0.3%.

Oil

Oil prices settled higher on Wednesday after a fire on a pipeline from Iraq to Turkey briefly stopped flows, increasing concerns about an already tight short-term supply outlook.

Brent crude futures settled up 93 cents, or 1.1%, at $88.44 a barrel. The global benchmark earlier touched $89.13, its highest level since Oct. 13, 2014. U.S. West Texas Intermediate (WTI) crude futures settled up $1.53 at $86.96 a barrel, its highest level since Oct. 9, 2014.

Economic Events

World Markets - 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.

 

Sources

https://www.reuters.com/

https://in.investing.com/