29 April 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar left defenceless by dovish Fed, euro muscles higher
- Asia-Pacific stocks mostly higher; Fed keeps interest rates near zero
- Oil prices extend gains as demand outlook offsets India concerns
The dollar was on the defensive near nine-week lows on Thursday as a decidedly dovish outlook from the U.S. Federal Reserve gave a green light for the global reflation trade.
The setback allowed the euro to crack major trendline resistance at $1.2114 and power up to the highest since late February at $1.2135. The break opened the way to bull targets at $1.2196 and $1.2242. The dollar also shed much of the week’s gain on the yen, falling back to 108.45 from Wednesday’s top of 109.07.
Against a basket of currencies, the dollar was down at a near nine-week low of 90.554, and a long way from the rally peak of 93.439 hit at the end of March.
Stocks in Asia-Pacific mostly rose in Thursday morning trade, as investors react to the U.S. Federal Reserve’s decision to keep its easy money policy in place. The Federal Reserve on Wednesday decided to leave short-term interest rates anchored near zero as it buys at least $120 billion of bonds each month
South Korea’s Kospi gained 0.37% while the S&P/ASX 200 in Australia climbed 0.32%. Mainland Chinese stocks were mixed, with the Shanghai composite down 0.13% and the Shenzhen component advanced 0.146%. Hong Kong’s Hang Seng index rose 0.67%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.54% higher.
Oil prices extended gains on Thursday after rising 1% the previous session, as bullish forecasts on recovering demand this summer offset concerns of rising COVID-19 cases in India, Japan and Brazil.
Brent crude for June edged up 8 cents, or 0.1%, to $67.35 a barrel while U.S. West Texas Intermediate crude for June was at $63.98 a barrel, up 12 cents, or 0.2%.
Ø Cost to cover default risks goes up for banks
Ø ONGC says want foreign partners in new fields
Ø Reliance, Saudi Aramco discuss cash and share stake deal: Report
Ø FinMin relaxes COVID-relief material import norms for Indian Red Cross
Ø Maruti Suzuki advances scheduled maintenance shutdown to May to make oxygen available for medical needs
Ø Second COVID wave likely to peak in India in June, says CLSA
Ø India’s GDP to grow at 11% this fiscal, economic recovery at risk: ADB
Ø SBI board to consider raising $2 billion through bonds in 2021-22
Ø Minimum 20% key AMC employee compensation to be in mutual fund units: Sebi
Ø Zomato eyes raising $1.1 bn through initial public offering, files DRHP
Ø KPIT Q4 net profit rises 23.6% YoY to Rs 47 cr, revenue dips 3.8%
Ø Bombay HC stays investigation under FIR against Indiabulls Housing
Ø Morepen Group seals ₹750-cr investment
Ø Resurgence in Covid-19 to dampen pace of recovery for India Inc: ICRA
Ø Linde India embarks on two operations to ease oxygen supply for Covid-19 patients
Ø CPCL back in black with ₹238-cr profit in FY21
Ø Petronet LNG plans bunkering services to ocean going ships from its Kochi terminal
Ø Samsung family to pay about $10.8 billion in taxes related to inheritance
Ø Fed strengthens view of economy while keeping rates near zero
Ø US stock ETF inflows of $246 bn already top all of last year
Ø Investor wealth jumps over Rs6 trillion in three days of market rally
Ø S&P hints at possible downgrade of India GDP projection
Ø No more kebabs for bitcoins as Turkey’s crypto-payment ban looms
Ø Reckitt reports double-digit growth in India health business
Ø Venture firms bask in a surge of blockbuster profits
Ø India imposes anti-dumping duty on chemical from 4 regions
Ø India, Australia, Japan trade ministers’ meet riles China
Ø RBI Committee on ARCs invites views, suggestions from stakeholders by May 31
Ø Sebi Bans 3 Entities In Infibeam Avenues Insider Trading Case
Ø Steel Plants Supply 3,650 Tn Oxygen To Hospitals On Tuesday
Ø IATO Seeks PM’s Intervention To Remove Anomalies In Operational Guidelines Of ECLGS
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