World Markets
03 June 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar on tenterhooks as payrolls test looms
- Asia shares off 3-month highs, caution ahead of U.S. payrolls
- Oil hits over 1-year high on OPEC+ supply discipline, demand prospects
Currency
The U.S. dollar was wavering above major support levels on Thursday, as traders awaited a batch of U.S. economic data that could set the tone at central bank meetings later this month.
Against the euro the dollar traded at $1.2209 after unwinding a small Wednesday rally. The greenback lost 1.7% on the euro in May, but did not fall past strong support at $1.2266. It was steady at 109.64 yen.
In Asia, startling gains in the Chinese yuan this week had also sparked speculation about shifts in Chinese policymakers’ stance on the currency, although it eased slightly to 6.3807 in early offshore trade on Thursday.
The dollar index, which measures the greenback against a basket of six major currencies, also held at 89.919 where it seems to have found strong support in recent weeks.
Equity
Asian shares were a touch below a recent three-month top on Thursday with China a tad weaker as investors weighed inflation concerns ahead of key U.S. economic data while oil prices rose to near 1-1/2 year highs.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3% to 711 points. It went as high as 712.57 on Wednesday, a level not seen since early March.
Japan’s Nikkei added 0.4%. Australian shares climbed to all-time highs as investors cheered stronger-than-expected economic growth data released on Wednesday. Chinese shares were marginally softer.
Oil
Oil prices surged on Wednesday, hitting their highest in more than a year from a decision by OPEC and allies to stick to the plan to gradually restore supply, along with the slow pace of nuclear talks between Iran and the United States.
Brent rose $1.1, or 1.6%, to settle at $71.35 a barrel. It reached $71.48 a barrel, its highest since January 2020. U.S. West Texas Intermediate (WTI) crude rose $1.11, or 1.6%, to settle at $68.83 a barrel. It hit $69.00 during the session, its highest since October 2018.
Financial News
Business Standard
Ø India’s trade deficit jumps 74.69% YoY to $6.32 billion in May: Govt data
Ø Industry bodies urge RBI to put off new audit rules
Ø Banks, asset managers want RBI to allow sale of fraud loans to ARC
Ø Mallya loan default case: Banks’ claim of Rs 6,200 cr loss not imaginary, says court
Ø India’s diamond exports are expected to surpass $20 billion: Crisil Report
Ø ITC’s FMCG brands cross Rs 22,000 crore annual consumer spend in FY21
Business Line
Ø Sebi gives foreign investors more time to furnish contact, income details
Ø Jio accelerating digital platforms, indigenously-developed 5G stack: RIL
Ø Wipro sells stake in Denim Group for $22.42 mn, acquires stake in Squadcast
Ø Sun Pharma, Ferring Pharma ink pact to introduce obstetric drug in India
Ø Motherson Sumi Systems posts nearly eight-fold jump in Q4 profit
Ø Tata Power Solar gets letter of award from NTPC for Rs 686-cr project
Mint
Ø Goods exports in May surge 67% to $32.21 billion
Ø Adani Green arm commissions 150-MW wind project at Kutch
Ø Ministry notifies amendment in GST law for levying interest on net cash liability
Ø Rossari Biotech inks pact to acquire Unitop Chem for ₹421 cr in cash
Ø Zoom revenue up 191% YoY to $956.2 million in Q1
Ø Venus Remedies annual sales rise 61% at ₹548 cr
Financial Express
Ø Pfizer engaged in talks with India for Covid-19 vaccine supply
Ø Sebi gives more time for implementation of SMS alerts for IPO through UPI
Ø Kotak launches pre-IPO fund, plans to raise Rs2,000 crore
Ø Tata Consumer enters direct-to-consumer premium coffee, tea market
Ø Franklin Templeton MF says returned ₹14,572 cr to investors of 6 shut schemes
Ø Rupee falls, ends at 73.09 per dollar
Business World
Ø Revised ECLGS will help hotels, aviation sector, tour operators: Crisil
Ø Nestle working on company-wide project to update its nutrition, health strategy
Ø Sensex, Nifty End Flat Amid Volatility, Metals and PSBs Outperform
Ø India Exports 11,49,341 MT Of Seafood During 2020-21
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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