World Markets
01 June 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar in doldrums as traders ponder Fed policy path; sterling soars
Asian stocks at month high ahead of U.S. jobs data, gold rises
Oil up, near $70 a barrel as demand outlook improves
Currency
The dollar languished near multi-month lows versus major peers on Tuesday as traders pondered the prospects for early policy normalization by the Federal Reserve ahead of a key jobs report at the end of the week.
The British pound rallied to a three-month peak at $1.425 while Canada’s loonie hovered near a six-year top, amid market expectations for policy tightening in those countries. Australia’s dollar rose for a second day to as high as $0.77605 ahead of a central bank announcement. The dollar index, which tracks the greenback against six peers, was back below 90 from as high as 90.447 on Friday
Equity
Asian stock markets rose on Tuesday while gold flirted near five-month highs ahead of European and U.S. data this week that will likely offer clues on the health of the global economy.
Taiwan and South Korea share indexes climbed in early trade while Japan, Australia and Hong Kong markets retreated, pushing up MSCI’s broadest index of Asia-Pacific shares outside Japan by 0.3%. South Korea’s index jumped 0.8% and led regional gains.
Oil
Oil prices firmed on Monday, with Brent trading near $70 a barrel on growing optimism that fuel demand will grow in the next quarter, while investors looked ahead to see how producers will respond at this week’s OPEC+ meeting.
Trading was thin as U.S. and UK markets were closed on Monday due to public holidays. Brent crude futures settled up 60 cents, or 0.9%, at $69.32 a barrel, off the a session high of $69.82. U.S. West Texas Intermediate crude rose 0.9% and last traded at $66.91 a barrel. Both contracts were set for a second monthly gain.
Financial News
Business Standard
Ø India’s declining pace of business activity bottomed out in May: Nomura
Ø High government cash balance likely to limit additional borrowing
Ø Non-food bank credit grows at 5.7 pc in April: RBI data
Ø Nestle, under fire over unhealthy products, working on new strategy
Ø Relief for investors as RBI clarifies on banks’ crypto warning
Ø Government approves four firms under PLI scheme for bulk drugs
Ø Centre’s fiscal deficit for FY21 settles at 9.2% of GDP vs target of 9.5%
Ø Eight core sectors’ output grows 56% in April on low base effect
Ø PNB HFC raising up to Rs 4,000 cr in equity; Carlyle group among investors
Ø Sebi gives more time to mutual funds to implement new disclosure rules
Ø Paytm to raise $1.5 bn via primary issue of shares ahead of IPO: Source
Ø Delhivery raises $275 million funding, valuation rises to over $3 billion
Mint
Ø Aurobindo Pharma Q4 net down 7.2%
Ø Hyper local job search firm Jobsgaar raises $1,40,000
Ø Cipla to market Delhi start-up’s ‘waterless’ hygiene products
Ø Deepak Fertilisers to invest ₹1,475 cr in ammonia plant
Ø Johnson & Johnson asks high court to void $2 b talc verdict
Ø Igarashi Motors India resumes operations at Chennai plants
Ø IRB InvIT FY21 profit rises 5% to ₹181 crore
Ø India’s GDP contracted by 7.3% in 2020-21, with revival postponed to 2022-23
Ø Fed warned Deutsche Bank over anti-money-laundering backsliding
Ø Jaishankar to chair BRICs foreign ministers’ meeting Tuesday
Ø Sebi asks listed companies to disclose loans, guarantees given to promoters
Business World
Ø Real estate sector to cross USD 1 trillion by 2030: Housing Secretary
Ø IFFCO introduces world’s first nano urea; priced at Rs 240/bottle
Ø Sensex Jumps 515 Pts, Nifty Ends Above 15,580
Ø Monthly GST Return Filing Deadline Extended Till June 26
Economic Events
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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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