World Markets
24 May 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar near 3-month low, weighed by prospects of dovish Fed
- Asia-Pacific markets advance in early trade, Japan’s Nikkei up 0.8%
- Oil prices rise as storm forms in Gulf, doubts emerge on Iran deal
Currency
The dollar stood near its lowest level in three months against a resurgent euro, struggling for traction as investors pared earlier bets the U.S. Federal Reserve may soon be ready to taper its stimulus.
The dollar index, measuring the greenback against a basket of six currencies, was hovering at 90.027, a tad above a three-month low of 89.646 set on Friday. The euro traded at $1.2179, off a three-month high of $1.2245 touched on Wednesday. The British pound stood at $1.4144, off Friday’s three-month peak of $1.4233. The yen was little moved at 108.92 per dollar.
Equity
Asia-Pacific markets rose Monday, with Japan’s Nikkei 225 leading gains. The Japanese benchmark index was up 0.8% in early trade while the Topix added 0.67%. In South Korea, the Kospi index was up 0.13%.
Australia’s ASX 200 advanced 0.17%, with most sectors trading up. But, major miners came under pressure as shares of Rio Tinto fell 0.2%, Fortescue was down 0.67% while BHP traded near flat. In South Korea, the Kospi index was up 0.13% while Australia’s ASX 200 advanced 0.17%, with most sectors trading higher.
Oil
Oil prices rose on Monday as a storm formed in the Gulf of Mexico and Iran said a three-month nuclear monitoring deal had expired, raising doubts about the future of indirect talks that could end U.S. sanctions on Iranian crude exports.
Brent crude oil futures for July rose 32 cents, or 0.5%, to $66.76 a barrel , while U.S. West Texas Intermediate for July was at $63.93 a barrel, up 35 cents, or 0.6%.
Financial News
Business Standard
Ø CII wants RBI to review circular on appointment of bank, NBFC auditors
Ø Finance ministry denies asking banks to withdraw funds from foreign accounts fearing Cairn action
Ø Cost savings project: Jaguar Land Rover cuts break-even volume by a third
Ø Discoms’ outstanding dues to gencos fall 3% to Rs 78,379 cr in March
Ø Jaypee Infra homebuyers irked by delay
Ø Interest waiver: IBA reaches out to govt
Business Line
Ø MSME needs ‘concentrated, right kind’ of relief package: Assocham
Ø ‘Misleading’: JSW Steel denies reports on Liberty Steel assets buy
Ø CoC to review NBCC offer for Jaypee Infra on Monday before vote on Suraksha
Ø Glaxo gets ready for next pandemic after hiccups in Covid vaccine
Ø Maruti, Toyota, M&M remain bullish on long-term growth of used car business
Ø Global rebound euphoria tests central bankers’ nerves on economic risk
Mint
Ø Leveraging AI/ML, new version of MCA21 to be launched on Monday
Ø Liquid Medical Oxygen sourced by IndianOil from Singapore arrives at Vizag Port
Ø Amara Raja Batteries reports net profit of ₹189 crore in Q4
Ø Centre allows RVNL to import 5,000 tonnes of steel for Kolkata Metro project
Ø Hindalco sets aside ₹2,700-cr capex for this fiscal
Ø JSPL selling subsidiary to promoter family at one-fourth of price: Ingovern
Financial Express
Ø Bitcoin falls 13% to $33178, ether down 14%
Ø MCX Q4 results: Net profit declines 41%; announces dividend of ₹27.75/share
Ø WHO provides over 340 MT of essential medical supplies to countries in SE Asia
Ø JSW Steel calls reports on Liberty UK interest ‘speculative’
Ø Birlas betting big on realty, lines up ₹1,000-cr capex for Birla Estates this
Ø FPIs net sellers at ₹4,444 cr in May so far
Deccan Chronicle
Ø Tissue maker Origami’s online sales up 30 pc post pandemic
Ø Punjab & Sind Bank returns to profit after 8 quarters of losses
Ø Gold saving funds see Rs 864-crore inflow in April
Ø Internet Explorer to ‘retire’ on June 15, 2022: Microsoft
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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.
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