03 February 2022
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- U.S. dollar falls on weak private jobs data; euro up as inflation perks up
- Asia-Pacific markets mixed amid lingering growth concerns and geopolitical tensions
- Oil edges higher after OPEC+ keeps to steady supply bump, U.S. stockpiles draw
The Indian rupee is expected little changed against the dollar amid a further uptick in Asian currencies and losses in U.S. equity futures and regional stocks.
The rupee is tipped at around 74.82-74.86 in opening trades compared with 74.84 yesterday.
The dollar declined to a more than a one-week low on Wednesday after data showed a drop in U.S. private sector employment in January due to the increase in COVID-19 infections.
The euro gained for a third consecutive day, coming off a 20-month low last week, as euro zone inflation rose to a new record high last month. That fuelled bets the European Central Bank could raise interest rates sooner than expected.
The dollar index, with the euro as the largest component, fell 0.3% to 95.9260. It is on track for its largest weekly percentage loss since November 2020, at 1.3%.
ADP reported on Wednesday that U.S. private payrolls dropped by 301,000 jobs last month. Data for December was revised lower to show 776,000 jobs added instead of the initially reported 807,000.
Sterling rose 0.4% to $1.3584, after earlier hitting a nearly two-week peak against the dollar at $1.3587 ahead of a Bank of England policy meeting on Thursday. Investors have fully priced in an expected increase in the BoE base rate by 25 basis points to 0.5% on Thursday.
Asia-Pacific markets traded mixed on Thursday amid some lingering concerns about global growth and ongoing geopolitical tensions.
In Australia, the ASX 200 trimmed earlier losses to trade down 0.18%. Japan’s Nikkei 225 fell 0.92% while the Topix index was down 0.52%. In South Korea, the Kospi bucked the downward trend and rose 1.68% while the Kosdaq advanced 2.28%.
Oil prices edged up on Wednesday after OPEC+ stuck to planned moderate output increases despite pressure from top consumers to raise output more quickly.
Brent crude ended settling up 31 cents to $89.47 a barrel, while U.S. West Texas Intermediate crude gained 6 cents to $88.26 a barrel.
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.