World Markets
07 February 2022
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World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Euro near three-week top, but looming Fed tightening could help dollar
- Asia shares slip as U.S. jobs stunner hammers bonds
- Oil turns higher on fears of tight supply, shrugging off U.S.-Iran talks
India Stock Market
The market is expected to open in the red as trends on the SGX Nifty indicate a negative opening for the broader index in India with a loss of 34 points.
On Friday, the BSE Sensex fell 143.20 points to 58,644.82, while the Nifty50 declined 43.90 points to 17,516.30
Currency
The euro was near Friday’s three-week high on Monday morning, after the European Central Bank’s hawkish turn last week, but analysts said further short-term gains looked less likely with looming Fed tightening supporting the dollar.
The euro was last at $1.1451, not far from Friday’s high of $1.4183, equaling mid-January’s top. The yen was at 115.16 per dollar, and sterling was at $1.35310, both in the middle of their recent ranges.
This left the dollar index at 95.461, having been given a late boost by strong U.S. jobs data Friday at the end of a bruising week for the greenback.
Indian Currency market is closed today due to holiday declared by Maharashtra government as a mark of respect to Lata Mangeshkar.
Equity
Asian share markets mostly eased on Monday after stunningly strong U.S. jobs data soothed concerns about the global economy but also added to the risk of an aggressive tightening by the Federal Reserve.
The cautious mood saw MSCI’s broadest index of Asia-Pacific shares outside Japan dip 0.1% in early trade. Japan’s Nikkei fell 0.9% and South Korea 0.8%. Chinese markets returned from the Lunar New Year break with a bounce, with the blue-chip CSI300 and Shanghai Composite both up about 2% in morning trade,
Oil
Oil prices rose on Monday, reversing earlier losses, as investors kept bullish sentiment on expectations that global supply would remain tight as demand picks up and shrugged off signs of progress in the U.S.-Iran nuclear talks.
Brent crude was up 60 cents, or 0.6%,at $93.87 a barrel , after touching its highest since Oct. 3, 2014 of $94.00 earlier. It slid to as low as $92.47 in an early trade. U.S. West Texas Intermediate crude climbed 25 cents, or 0.3%, to $92.56 a barrel, near its 7-year high hit on Friday, having fallen to as low as $91.36 earlier in the session.
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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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