23 March 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
Dollar off recent highs as investors look to Fed, Yellen for bond clues
Asia-Pacific stocks mixed; Baidu rises in Hong Kong debut
Oil steadies after sell-off but European lockdowns hurt outlook for demand recovery
The Indian rupee is expected to trade little changed against the dollar, tracking rangebound moves in Asian peers. Corporate and portfolio flows and movements in Treasury yields are critical for the rupee this week, traders said.
The rupee will likely trade around 72.35-72.40 initially compared with 72.37 in the previous session
The U.S. dollar hovered below recent highs on Tuesday as investors looked to fresh comments from top U.S. policy makers to gauge how far they would allow U.S. bond yields to rise.
The dollar traded at 108.81 yen, having lost a bit of steam after it had hit a nine-month peak of 109.365 last week. The euro stood at $1.1934, having bounced off a two-week low of $1.1870 on Monday.
The dollar’s index against a basket of six major currencies slipped 0.32% on Monday and stood almost flat in early Asian trade at 91.815.
The Indian stock market is expected to open in the green following positive global cues. Trends on SGX Nifty indicate a positive opening for the index in India with a 57 points gain.
Shares in Asia-Pacific were mixed in Tuesday trade, with Chinese search giant Baidu making its debut in Hong Kong. In Japan, the Nikkei 225 edged 0.53% higher while the Topix index gained 0.33%. South Korea’s Kospi slipped fractionally.
Mainland Chinese stocks dipped as the Shanghai composite shed 0.21% while the Shenzhen component declined 0.287%. Hong Kong’s Hang Seng index was little change. Shares in Australia inched higher, with the S&P/ASX 200 rising 0.26%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.15% higher.
Oil steadied on Monday as hopes for a pick-up in demand later this year helped arrest last week’s broad sell-off, but prices stayed under pressure as new European coronavirus lockdowns made a quick recovery look less likely.
Brent crude ended the session up 9 cents or 0.1% at $64.62 a barrel, while U.S. oil for delivery in April fell 13 cents, or 0.2%, to settle at $61.55 a barrel as it expired. The more active U.S. crude futures for delivery in May rose 12 cents or 0.2% to settle at $61.56 a barrel.
Major Economic Events
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