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World Markets at a glance for currency, equity, commodity, bonds, crypto currency, financial news & major economic events of 18 August 2022.
FX Insights
Indian Rupee
Indian Rupee is expected to open higher at 79.57 due to Dollar strength after FED meeting minutes . Equity is negative and we see buying pressure in Dollar Rupee.
Technical Analysis
Current level is 79.57.
In the Daily chart, first support is placed in 79.40-42 range ( 7 day & 18 day Exponential Moving average). Break of 79.40 will take pair towards 79.00 ( 50 day Exponential moving average)
First Resistance is at 79.75-80 range which is last weeks high . Break of which will take USD/INR towards 80.05 which is All time high .
In technical indicators, RSI is at 54 and is slightly bullish.
MACD is now showing flat trend.
Other currency
The dollar gained ground on Thursday after minutes from the Federal Reserve’s July meeting suggested that interest rates in the United States would remain higher for longer in order to keep inflation under control.
The dollar gained 0.6% against the yen overnight and was trading at 134.90 yen on Thursday. The euro purchased $1.0184. The US dollar index remained stable at 106.570.
Consumer price inflation in the United Kingdom rose to 10.1% in July, the highest level since February 1982, according to official figures, and sterling fell 0.4% to $1.2050 after a brief rise.
Equity Insights
Indian Equity
The market is expected to open cautiously on August 18, as trends in the SGX Nifty indicate a negative start for India’s broader equity indices with a loss of 16 points.
The benchmark indices rose for the seventh consecutive session on Wednesday, with the BSE Sensex rising 418 points to 60,260 and the Nifty50 rising 119 points to 17,944, forming a bullish candlestick pattern on the daily charts.
According to the pivot charts, the Nifty’s key support level is 17,863, followed by 17,782. If the index continues to rise, the key resistance levels to watch are 17,996 and 18,047.
Other Equity
Asian shares fell in lockstep with Wall Street on Thursday, as even the prospect of a less aggressive Federal Reserve has set the US central bank on a path to keep interest rates higher for longer.
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.22%, following a mild loss in US stocks the previous session. So far this month, the index is up 1.3%.
The Hang Seng Index in Hong Kong fell 0.45%, while China’s blue chip CSI300 fell 0.33%.
The Dow Jones Industrial Average fell 0.5% to 33,980.32, the S&P 500 dropped 0.72% to 4,274.04, and the Nasdaq Composite fell 1.25% to 12,938.12.
Commodity Insights
Oil
Oil prices fell on Thursday, reversing the previous session’s gains, as rising Russian output and concerns about a global recession weighed on futures.
Brent crude futures were down 33 cents, or 0.4%, to $93.32 per barrel. Crude futures in the United States fell 40 cents, or 0.5%, to $87.71 per barrel.
Economic Events
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Economic Calendar |
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Thursday, Aug 18, 2022 |
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| Time | Country |
Event |
Forecast | Previous |
| 14:30 |
EUR |
CPI (YoY) (Jul) |
8.90% |
8.60% |
| 18:00 |
USD |
Initial Jobless Claims |
265K |
262K |
| 18:00 |
USD |
Philadelphia Fed Manufacturing Index (Aug) |
-5 |
-12.3 |
| 19:30 |
USD |
Existing Home Sales (Jul) |
4.89M |
5.12M |
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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