28 April 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events
- Dollar pins hopes on Fed, Biden for cementing rebound from 8-week low
- Asia-Pacific stocks mixed as investors digest economic data from Australia, Japan
- Oil falls as India crisis, U.S. stocks build dampen confidence in fuel demand recovery
The dollar is set to take its cue from the U.S. Federal Reserve’s policy statement and President Joe Biden’s speech on Wednesday, as it seeks to extend a recovery from an eight-week low touched earlier in the week against a basket of currencies.
The dollar index stood at 90.968, bouncing from Monday’s low of 90.679, its lowest level since March 3, though investors are not convinced if its downtrend since late March has ended.
The euro traded at $1.2089, off Monday’s two-month high of $1.2117. The dollar stood at 108.89 yen, having jumped 0.59% overnight and extending its recovery from a seven-week low of 107.48 touched last week.
Shares in Asia-Pacific were mixed in Wednesday morning trade after a slew of economic data. Japan’s retail sales rose 5.2% in March as compared with a year ago, according to government data. Australia’s consumer price index rose 0.6% in the first quarter, according to data released by the country’s Bureau of Statistics on Wednesday.
In Japan, the Nikkei 225 rose 0.23% while the Topix index gained 0.37%. The S&P/ASX 200 in Australia advanced 0.55%.
Mainland Chinese stocks were lower, as the Shanghai composite declined about 0.3% while the Shenzhen component dipped 0.202%. Hong Kong’s Hang Seng index was little changed. South Korea’s Kospi slipped 0.91%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.08% lower.
Oil prices dropped on Wednesday, paring overnight gains, with soaring COVID-19 cases in India and a bigger-than-expected build in U.S. crude stocks offsetting confidence shown by OPEC and its allies in a solid recovery in global fuel demand.
Brent crude futures fell 26 cents, or 0.4%, to $66.16 a barrel , paring a 1.2% gain from Tuesday. U.S. West Texas Intermediate (WTI) crude futures fell 23 cents, or 0.4%, to $62.71 a barrel, after gaining 1.7% on Tuesday.
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