World Markets
11 February 2022
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World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Rate hike bets keep U.S. dollar bid
- Asian shares fall, U.S. treasury yields hold firm after U.S. inflation data
- Oil prices slip on hot U.S. inflation concerns
Indian Rupee
The Indian rupee is expected to decline against the dollar today after another larger-than-expected increase in U.S. consumer prices made it highly likely that the Federal Reserve would increase rates by 50 basis points next month. Treasury yields soared.
The rupee is expected at around 75.20-75.30 in opening trades compared with 74.94 yesterday.
Currency
he dollar was firm in Asia on Friday after hotter-than-expected U.S. inflation and hawkish comments from a Federal Reserve official unleashed a wave of bets on aggressive rate hikes, though similar pressures worldwide kept a lid on gains.
Thursday data showed U.S. consumer prices up 7.5% year-on-year in January, a fourth straight month above 6% and slightly higher than economists’ forecasts for a 7.3% rise.
Treasury yields leapt and the dollar jumped to a five-week high of 116.34 yen during volatile overnight trade. The greenback oscillated against other currencies before turning broadly firmer early in the Asia session. The euro was last down 0.2% at $1.1400 and the Australian and New Zealand dollars each dropped about 0.3% in morning trade.
India Stock Market
The market is expected to open in the red as trends on the SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 182 points.
The BSE Sensex jumped 460 points to 58,926, while the Nifty50 rose 142 points to 17,606
Equity
Asian share markets fell on Friday, after red-hot U.S. inflation data and hawkish comments from a Federal Reserve official fuelled bets on U.S. interest rates being hiked more aggressively, and sent U.S. Treasury yields jumping.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.76%, with most markets in the red, U.S. markets overnight had sold off more aggressively than those in Asia did on Friday morning, the Dow Jones Industrial Average tumbled 1.47%, the S&P 500 lost 1.81% and the Nasdaq Composite dropped 2.1%.
Oil
Oil prices eased early on Friday as hot U.S. inflation fanned worries about aggressive interest rate hikes and as investors await the outcome of U.S.-Iran talks that could lead to increased global crude supply.
Brent crude futures fell 40 cents, or 0.4%, to $91.01 a barrel , while U.S. West Texas Intermediate crude declined 25 cents, or 0.3%, to $89.63 a barrel.
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.
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