World Markets
25 March 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
Dollar extends four-month high to euro as recovery outlooks diverge
Asia-Pacific shares mixed as investors watch tech stocks following Wall Street sell-off
Oil prices slide as coronavirus lockdown concerns outweigh Suez Canal disruptions
Upload ONLY 4 documents
(PAN, Aadhaar, Bank Proof, Signature)
OPEN A FREE DEMAT ACCOUNT NOW!
Currency
The dollar hit a fresh four-month high to the euro on Thursday as the U.S. pandemic response continued to outpace Europe’s, which has been hobbled by extended lockdowns and delayed vaccine rollouts.
The safe-haven greenback remained broadly stronger following a two-day rally amid worries ranging from Europe’s third COVID-19 wave and potential U.S. tax hikes to the persistent spectre of inflation.
The euro traded near the four-month low of $1.1809 touched earlier in the Asian session, while a gauge of the dollar against six major rivals hovered just below a four-month high of 92.617 reached overnight.
The dollar gained 0.1% to 108.835 yen, another safe haven currency, as the pair continued to consolidate below 109.
Australia’s dollar, considered a liquid proxy for risk appetite, bounced 0.2% after earlier dipping to $0.7579, the lowest level since Feb. 2.
Equity
Shares in Asia-Pacific were mixed in Thursday trade as tech stocks in the region took a hit following a sell-off in the sector overnight on Wall Street.
In Japan, the Nikkei 225 rose 0.32% while the Topix index gained 0.91%. South Korea’s Kospi advanced 0.16%.
Mainland Chinese stocks declined, with the Shanghai composite down 0.44% while the Shenzhen component shed 0.677%. Hong Kong’s Hang Seng index dropped 1.08%.
Shares in Australia nudged higher as the S&P/ASX 200 climbed 0.16%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.58% lower.
On Wall Street, the Dow Jones Industrial Average fell 0.01%, the Nasdaq Composite dropped 2.01%, while the S&P 500 lost 0.55%.
Oil
Oil prices skidded around 2% as fuel demand concerns re-emerged alongside fresh coronavirus pandemic lockdowns, trimming overnight gains spurred by the grounding of a giant container ship blocking crude shipments through the Suez Canal.
Brent crude futures slid $1.14, or 1.8%, to $63.27 a barrel , after jumping 6% overnight.
U.S. West Texas Intermediate (WTI) crude futures dropped by $1.27, or 2.1%, to $59.91 a barrel, after climbing 5.9% overnight.
Financial News
Business Standard
Ø Fitch revises India GDP growth to 12.8% for FY22
Ø Development forum set up to promote cooperative sectors’ growth
Ø India likely to resume new bankruptcy filings after halt expires
Ø Sebi orders attachment of bank, demat, MF accounts of Rana Kapoor
Ø Hotel investment trading volume in India declines 84% in 2020, says JLL
Ø Privatising two PSBs: India Ratings warns of rating impact if govt cedes control
Business Line
Ø Discom overdue increases 5.5-times in 5 states; disputes rising too
Ø Govt may seek details of interest on interest charged by banks
Ø Jubilant FoodWorks to bring US-based fast food chain Popeyes to India
Ø SC remits to creditors Jaypee Infratech’s resolution plan for approval
Ø Adani Green Energy to buy 74.94 MW solar projects of Sterling and Wilson
Ø DHFL debt resolution to spill over into FY22
Mint
Ø Project financing confirmed for ONGC-OIL-supported Mozambique LNG project
Ø ABB reaches 5GW milestone in delivering solar plant automation in India
Ø Zetwerk concludes $8.3 million share buyback
Ø Jet Airways bid winners seek nod to discuss restoration of airport slots
Ø Ashok Leyland to deploy e-buses for staff transportation
Ø Glenmark gets USFDA nod for generic antipsychotic drug
Financial Express
Ø No chance of sovereign rating downgrade: Nirmala Sitharaman
Ø Parliament passes Finance Bill 2021-2022
Ø Bank of India to issue Basel III compliant bonds to raise up to ₹750 crore
Ø Bitcoin tops $57,000 after Tesla starts accepting crypto asset as payment
Ø TVS Motors declares second interim dividend of Rs. 1.40 per share for FY21
Deccan Chronicle
Ø CAG for setting up of time-frame for roll out of simplified GST return forms
Ø ChrysCapital invests $50 mn in Safex Chemicals for minority stake
Ø Adani Ports to acquire controlling stake in Gangavaram Port for Rs 3,604 cr
Ø One year since COVID-19 lockdown: India still recovering from unemployment blow
Economic Events
Subscribe to our blog
https://prashantiforex.in/subscribe/
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.
Sources
