10 February 2022
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar ticks down, euro up ahead of U.S. CPI report
- Asia-Pacific stocks mixed as investors await U.S. inflation data
- Oil prices steady as investors eye U.S.-Iran nuclear talks
The Indian rupee is expected to trade little changed to the dollar ahead of a key U.S. inflation data that will help investors assess whether the Federal Reserve could raise rates by 50 basis points next month.
At home, India’s Monetary Policy Committee is tipped to increase the reverse repo rate today, marking the beginning of policy normalization.
The rupee is expected at around 74.80-74.82 in opening trades compared with 74.81 yesterday
The dollar slid further on Wednesday and the euro extended gains following a hawkish shift from the European Central Bank last week and ahead of key data on U.S. consumer prices due on Thursday.
The CPI print may offer new indications about the pace of the Federal Reserve’s monetary tightening, and investors are bracing for higher-than expected numbers that would signal more aggressive interest rate hikes.
The dollar index fell 0.056%, with the euro up 0.1% to $1.1425. The Japanese yen traded at 115.50 per dollar, still weaker than levels below 115 seen against the greenback earlier this week. The Australian dollar was at $0.7168, largely holding on to gains after its climb from below $0.712 earlier in the week.
Shares in Asia-Pacific were mixed in Thursday morning trade as investors await the release of U.S. consumer inflation data.
Mainland Chinese stocks were lower in morning trade, with the Shanghai composite down 0.19% while the Shenzhen component dipped 0.137%.Hong Kong’s Hang Seng index, on the other hand, advanced 0.44%.The Nikkei 225 in Japan gained 0.14% while the Topix index slipped fractionally. South Korea’s Kospi shed 0.17%. In Australia, the S&P/ASX 200 climbed 0.21%.
MSCI’s broadest index of Asia-Pacific stocks outside Japan traded 0.31% higher.
Oil prices were mixed on Thursday, after rallying on an unexpected drop in U.S. crude inventories in the previous session, as investors await the outcome of U.S.-Iran nuclear talks that could add crude supplies quickly to global markets.
Brent crude futures slid 10 cents, or 0.1%, to $91.45 a barrel , while U.S. West Texas Intermediate crude was at $89.74 a barrel, up 8 cents
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