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World Markets at a glance for currency, equity, commodity, bonds, crypto currency, financial news & major economic events of 09 August 2022.
FX Insights
Indian Rupee
On Fed rate hike predictions and dollar demand from importers, the Indian rupee declines.
On predictions of bigger interest rate increases from the U.S. Federal Reserve and demand for dollars from importers, the Indian rupee resumed its fall against the dollar.
The rupee had a brief uptick on Friday as the Reserve Bank of India raised interest rates by 50 basis points. However, the currency ultimately fell, ending the day down 0.54 percent to 79.66 against the US dollar.
The Indian stock markets are closed on Tuesday.
Other Currency
As traders awaited U.S. inflation data anticipated later this week, which could ease pressure on the Federal Reserve and increase pressure on the currency if it signals the pace of price increases has peaked, the dollar lingered just below recent highs on Tuesday.
The anticipation will probably keep things calm until the data is due on Wednesday.
Due to the continent’s energy issue, the British pound was stable at $1.2081 and the euro was locked at $1.0189, barely above parity, risking missing out on a boost if the dollar fell. The yen slightly increased to 134.75 per dollar.
Equity Insights
Indian Equity
On Monday, Indian equities reached a nearly four-month high, driven by metals and auto firms, as declining oil prices and robust foreign investor purchasing boosted mood.
The S&P BSE Sensex increased 0.8 percent to 58,853.07 and the NSE Nifty 50 index increased by 0.73 percent to 17,525.10. Benchmark indices reached their best closing levels since mid-April.
The markets have received a significant boost from the return of foreign institutional investors who had been absent from the activity over the previous few months. Indian stocks have seen inflows from foreign investors totaling $1.79 billion so far this month.
Other Equity
With investors this week focusing on U.S. inflation statistics and the possibility of future aggressive Federal Reserve rate hikes, Asian shares fell on Tuesday as financial markets fretted about ongoing global cost pressures.
MSCI’s largest index of Asia-Pacific shares outside of Japan was down 0.2% at the start of the Asian trading session. Australia’s equities remained unchanged, while the Nikkei in Japan fell 0.81 percent.
The CSI300 index of Chinese blue-chip companies opened the day down 0.31 percent. The Hang Seng index in Hong Kong started the day 0.12% down.
Overnight, the Nasdaq Composite fell 0.1 percent, the S&P 500 lost 0.12 percent, and the Dow Jones Industrial Average gained 0.09 percent.
Commodity Insights
Oil
The newest developments in the last-ditch negotiations to resurrect the 2015 Iran nuclear agreement, which would pave the door for increased Iranian crude exports in a competitive market, caused oil prices to decline in early trade on Tuesday.
The price of Brent crude futures decreased by 27 cents, or 0.3 percent, to $96.38 per barrel, reversing a prior session rise of 1.8 percent.
After increasing by 2% the previous day, U.S. West Texas Intermediate (WTI) oil futures fell 24 cents, or 0.3 percent, to $90.52 per barrel.
Economic Events
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Economic Calendar |
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Tuesday, Aug 09, 2022 |
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| Time | Country |
Event |
Forecast | Previous |
| 18:00 |
USD |
Nonfarm Productivity (QoQ) (Q2) |
-4.70% |
-7.30% |
| 21:30 |
USD |
EIA Short-Term Energy Outlook | ||
Disclaimer: All information in this report is collected from various sites on the internet. Although we have taken all precautions for the correct representation of data however we do not take any responsibility for any errors and omissions. The technical analysis and views expressed are the author’s own views. We are not responsible for any losses on account of following the same.
Sources
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