World Markets

World Markets

12 April 2021

World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.

  • Dollar pinned down by lower U.S. yields, inflation data in focus

  • Asia shares slip into earnings season, U.S. data deluge

  • Oil prices climb on favourable outlook for U.S. fuel demand

world markets

Currency

The dollar languished near 2-1/2-week lows against major peers on Monday as a decline in Treasury yields restrained the U.S. currency. The dollar index, which tracks the greenback against a basket of six rivals, was little changed at 92.193 early in the Asian session, following a 0.9% slump last week. It dipped below 92 on Thursday for the first time since March 23.

Against the euro, the dollar hovered near the lowest since March 23 at $1.1901. It bought 109.66 yen, close to a two-week low below 109 reached on Thursday.

Equity

Asian shares faltered on Monday as investors wait to see if U.S. earnings can justify sky-high valuations, while bond markets could be tested by what should be very strong readings for U.S. inflation and retail sales this week.

MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.6% in slow trade. Tokyo’s Nikkei edged down 0.5%, while South Korean stocks were near flat. Chinese blue chips eased 0.9% ahead of a rush of economic figures from the country.

Oil

Oil rose on Monday amid hopes that fuel demand is picking up in the United States as the summer driving season approaches and the rollout of COVID-19 vaccinations there accelerates, though increasing case numbers in other countries are set to cap gains.

Brent was up 25 cents, or 0.4%, at $63.20 a barrel. U.S. crude gained 17 cents, or 0.3%, to $59.49 a barrel.

Financial News

Business Standard

Ø  Govt may hike FDI limit in pension sector to 74%; Bill likely in monsoon session
Ø  Partial lockdown measures could impact movement of labour, goods: CII survey
Ø  Govt to complete 5 surveys in 7 months on jobs: Labour Bureau DG
Ø  Bridgestone India unlocks 7 million euros in 9 months, helped by digital payment platform Freepay
Ø  Tata Sons build marketplace for SMEs
Ø  RMZ raises Rs 1,500 crore from Canada Pension Plan Investment Board

Business Line 
Ø  Vedanta Group in talks with govt to set up display fabrication unit
Ø  Infosys to consider share buyback on April 14, announce FY21 results
Ø  Govt’s move to inject Rs 14,500 cr in 4 PSBs won’t raise tangible equity
Ø  Microsoft in talks to buy Nuance Communications for about $16 bn: Report
Ø  InsuranceDekho may have got Rs 1,200 cr in premium in FY21: Co-founder
Ø  Franklin Templeton unitholders to get Rs 2,962 cr in second tranche

Mint
Ø  India becomes largest buyer of US crude in first quarter of calendar year 2021
Ø  Exports surge 297% in the first week of April
Ø  India’s power consumption grows nearly 47 per cent in first week of April 2021
Ø  Indian apparel industry eyes collaboration with global suppliers of man-made fibre
Ø  Arbitration case: Cairn to forego $500 million if India agrees to pay principal due

Financial Express
Ø  SBI collects ₹300 cr from zero balance accounts for certain services in 5 yrs
Ø  Mutual fund assets gain 41% in FY21: Crisil report
Ø  Future Retail may get 2-yr relief on loan repayments
Ø  Myanmar economy may shrink up to 20% as crisis looms
Ø  JC Flowers is highest bidder for SIL’s debt
Ø  Centre prohibits export of Remdesivir injection and Remdesivir API

Business World
Ø  Large CPSEs post record capex of 4.6 lakh crore in FY21
Ø  Over Rs 35,000-crore export aid held up amid trade recovery
Ø  IMF warns on rising debt risks in virus-hit Middle East, Central Asia
Ø  Ambuja Cement’s Strategic Plan On Track To Expand Capacity To Reach 50 MTPA
Ø  FM Urges World Bank Group To Sustain Crisis Response To Mitigate COVID-19 Impact

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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

https://www.reuters.com/

https://in.investing.com/