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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.

World Markets

FX Insights

Indian Rupee

Before the U.S. inflation report, which will determine the pace of interest rate increases by the Federal Reserve, the Indian rupee is anticipated to open slightly higher against the dollar on Wednesday.

Initial trades are expected to see the rupee trading at approximately 79.55-79.60 against the US dollar, down from 79.66 on Monday. The Indian stock exchanges were closed on Tuesday.

Technical Analysis

Current level is 79.54. Market is awaiting Inflation data of US today to see the chances of Federal Reserve raising rates by 75 points or 50 points.

In the Daily  chart,  first support is placed ain 79.40-43 range . ( 7 & 18 day  Day Exponential Moving Average) . Break of this range will take pair towards 79.00 ( Big figure support)

First Resistance is at 79.80 which is Monday high.

Second resistance is at 80.00 which is all time high

In technical indicators, RSI is at 55  and is flat. 

MACD is also flat in daily chart.

USD-INR-Daily-10-Aug-2022

Daily Chart

Other currency

As risk appetite decreased on Tuesday before of crucial inflation data that may provide hints as to how aggressively the Federal Reserve will raise interest rates in September, the safe-haven currency nudged higher, reversing earlier losses.

The dollar index, which compares the value of one currency to a group of others, increased by 0.047% to 106.38.

The euro was up 0.2% at $1.0204, sterling dipped 0.12% to $1.2065. Versus the yen, the dollar was fell0.14 at 135.195 yen

Australia’s dollar, viewed as a barometer of market risk, dropped 0.41% to $0.6955 and New Zealand’s dollar slid 0.14% to $0.62765 .

Equity Insights

Indian Equity 

Trends in SGX Nifty point to a down opening for India’s larger index. In contrast to the closing price of 17,557 on August 8, the Nifty futures were trading around 17,510 levels on the Singaporean exchange. On August 9, the Indian stock market was closed.

Resistance is placed at 17568 and supports are at 17452 and 17396 levels

Other Equity

Wednesday saw a decline in Asian stocks as traders analysed Chinese inflation data and anticipated the release of the CPI report in the United States.

Markets in mainland China declined, with the Shenzhen Component falling by 0.32% and the Shanghai Composite dipping slightly.The Topix index dropped 0.18% and the Nikkei 225 in Japan plummeted 0.61%.

The Kosdaq and Kospi both fell in South Korea by 0.89% and 0.69%, respectively. S&P/ASX 200 in Australia fell 0.1%. The Hang Seng index in Hong Kong dropped 0.54%.

The largest MSCI index of Asia-Pacific stocks outside of Japan fell by 0.48%.

The Nasdaq Composite dropped more than 1% overnight to 12,493.93 domestically. The S&P 500 fell 0.42% to 4,122.47, while the Dow Jones Industrial Average dropped 58.13 points or 0.18% to 32,774.41.

Commodity Insights

Oil

Wednesday saw a slight decline in oil prices after industry data revealed that U.S. crude inventories unexpectedly increased last week, pointing to a potential slowdown in demand.

According to market sources quoting American Petroleum Institute data, U.S. crude stockpiles increased by around 2.2 million barrels for the week ending August 5. Analysts had predicted a modest reduction in crude inventories of 400,000 barrels.

 The price of Brent crude futures dropped 6 cents to $96.25 per barrel. West Texas Intermediate futures for the United States fell 16 cents to $90.34 a barrel.

Economic Events

Economic Calendar

Wednesday, Aug 10, 2022

TimeCountry

Event

ForecastPrevious
11:30

EUR

German CPI (MoM) (Jul)

0.90%

0.10%

18:00

USD

Core CPI (MoM) (Jul)

0.50%

0.70%

18:00

USD

CPI (MoM) (Jul)

0.20%

1.30%

18:00

USD

CPI (YoY) (Jul)

8.70%

9.10%

20:00

USD

Crude Oil Inventories

0.073M

4.467M

 

 

 

 

 

 

 


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

https://www.reuters.com/

https://in.investing.com/

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