03 May 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar holds gains as traders look to U.S. data for policy cues
- Asia-Pacific stocks mixed as investors watch Covid situation in India; China and Japan markets closed
- Oil climbs as demand optimism overshadows India worries
The dollar clung to a recent bounce on Monday as investors made a cautious start to a week crammed with central bank meetings and big-ticket U.S. economic data, looking for clues on the outlook for global inflation and for policymakers’ response.
Asia trade was thinned by public holidays in Japan and China that also kept a lid on volatility, leaving the greenback where it settled after a Friday leap. It steadied at $1.2029 per euro and bought 109.28 yen. The dollar index, measured against six major currencies, held at 91.242.
The Aussie rose 0.1% $0.7724 on Monday to trade just above its 20-day moving average at $0.7714, while the kiwi edged 0.2% higher to $0.7174, also just above its 20-day moving average. Sterling steadied at $1.3825.
Stocks in Asia-Pacific were mixed in Monday morning trade, with thinner trading volumes expected as major markets in China and Japan are closed for holidays.
South Korea’s Kospi rose 0.63% in morning trade. Over in Australia, the S&P/ASX 200 advanced 0.38%. In Hong Kong, the Hang Seng index shed 1.17%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.31% lower.
Investors in Asia-Pacific will continue monitoring the Covid situation in India as the country continues to battle a deadly second wave of infections. Over the weekend, more than 400,000 daily new cases were registered for the first time. Markets in China, Japan and Thailand are closed on Monday for holidays.
Oil prices climbed on Monday as optimism about a strong rebound in fuel demand in developed countries and China in the second half of the year overshadowed growing concerns of a full lockdown in India to curb the COVID-19 pandemic.
Brent crude futures for July gained 36 cents, or 0.5%, to $67.12 a barrel while U.S. West Texas Intermediate for June was at $63.94 a barrel, up 36 cents, or 0.6%.