World Markets
27 May 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar firms as traders brace for U.S. inflation gauge
- Asian shares step back from two-week highs
Currency
The dollar found support on Thursday from emerging views the Federal Reserve is slowly but surely edging towards a discussion about tightening monetary policy, and as traders await crucial U.S. inflation data this week.
The euro traded at $1.2185 and the yen at a one-week low of 109.20 per dollar. Sterling also dipped to a week-low of $1.4150. Dollar strength also clipped the wings of the kiwi and it bought $0.7275 after hints of a 2022 rate hike by the Reserve Bank of New Zealand pushed it as high as $0.7316 on Wednesday. The Australian dollar dipped to $0.7732.
U.S. yields rose overnight, with the benchmark 10-year Treasury yield up 1.7 basis points to 1.5808%.The U.S. dollar index followed suit and lifted 0.4% on Wednesday, holding there on Thursday at 90.076.
Equity
Asian shares retreated from two-week highs on Thursday and China started on the backfoot on fears central banks were closer to considering winding back their emergency stimulus while the dollar held at a one-week top.
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.5% at 691.76, still not too far from Wednesday’s high of 696.76, a level last seen on May 10. Chinese shares started weaker with the blue-chip index off 0.2%. Australian shares were flat while New Zealand’s benchmark index stumbled 0.9%, Japan’s Nikkei was down 0.8%. E-Mini futures for the S&P 500 were down 0.2%.
Financial News
Business Standard
Ø Pension corpus under PFRDA swells over Rs 6 lakh crore
Ø ICAI says Reserve Bank’s new auditor norms to enhance audit quality
Ø Air India unions’ joint forum seeks forensic audit of provident fund trusts
Ø DGFT services on trader code, Aadhaar link to remain suspended from June 1-6
Ø iTel, Jio tie up to offer sub-4K 4G phone
Ø Declare apparel exports as essential services, exempt exporting units from lockdowns: AEPC
Business Line
Ø Sebi plans to shield small investors from presumably ‘risky’ IPOs
Ø BPCL posts net profit of Rs 11,940 cr in Q4, to pay final dividend of Rs 58
Ø Indian mills sign sugar export deals without government subsidy
Ø Inflation back on higher input prices, rural economy disruptions: Crisil
Ø Credit Suisse cuts metals stocks from overweight to underweight
Ø Amazon to buy MGM, studio behind James Bond and ‘Shark Tank’, for $8.4 bn
Mint
Ø GST Council may correct the inverted duty structure for textiles, footwear industries
Ø Centre may need to borrow $22 billion more to pay States
Ø Retail sales down 49% in April against pre-pandemic levels: RAI survey
Ø GMR Hyderabad Air Cargo expands Pharma Zone
Ø India adds 2.05 GW of solar capacity in CY Q1 2021
Ø V-Guard Industries Q4 PAT up 112% at ₹68.4 crore on higher sales
Financial Express
Ø Vijay Mallya loses UK appeal for more funds to cover Indian legal fees
Ø Iran bans bitcoin mining, echoing China, after blackouts
Ø Black fungus: Zydus Cadila to market TLC’s AmphoTLC drug in India
Ø Gold prices hit 4-month high on weak dollar, bond yields
Ø Two- and three-wheelers to take the lead in electric mobility by 2025: ICRA
Ø Tech Mahindra bags five-year digital contract from UK-based Pret A Manger
Business World
Ø Nearly 60% Covid-hit startups, MSMEs may scale down, shut down, or sell themselves in 6 months: Survey
Ø Gross NPAs of banks likely to decline in FY21 amid MSME schemes, restructuring, write-offs: CARE Ratings
Ø Hitachi ABB Power Grids In India Announces Carbon-Neutral Program
Ø Berger Paints Q4 Profit More Than Doubles To Rs 209 Cr
Ø Manappuram Finance Q4 Net Profit Jumps 17 % To Rs 468 Cr
Subscribe to our Newsletter
https://prashantiforex.in/newsletter/
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
