World Markets
04 June 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar jumps as strong run of data turns all eyes to payrolls
- Asia tracks Wall St lower as U.S. inflation bets perk up
- Oil steady after mixed U.S. crude inventory report
Currency
The dollar was perched near multi-week highs on Friday, basking in its biggest gains in about a month after robust jobs data threw investors’ focus on to the strength of the U.S. recovery and on the possibility of it driving policy tightening.
It lifted 0.7% to a three-week high of $1.2118 per euro and rose by the same margin to a two-month high of 110.32 yen. Gains topped 1% against the Aussie and the kiwi, which fell from recent ranges to their lowest in weeks.
The U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.7% on Thursday to stand at a three-week high of 90.574 on Friday.
The Australian dollar was licking wounds at $0.7652, after falling to its lowest since mid-April overnight, while the kiwi was parked at $0.7136 after slipping to its cheapest since early May on Thursday. Sterling was steady at $1.4099 in Asia after dropping through its 20-day moving average as the dollar climbed. The yuan fell to 6.4014.
Equity
Asian stocks followed Wall Street lower on Friday as signs of a strengthening U.S. recovery boosted bets for higher inflation and an earlier tapering of Federal Reserve stimulus.
Japan’s Nikkei fell 0.8% early in the Asian session, while MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.3%. Chinese blue chips slipped about 0.1% at the open. On Wall Street, the S&P 500 lost 0.4%, while the Nasdaq Composite suffered a 1% slide. The Dow Jones Industrial Average fared relatively better, slipping 0.1%.
Oil
Oil prices steadied on Thursday following two straight days of gains that took oil futures to highs not seen in a year, after weekly U.S. crude stocks fell sharply while fuel inventories rose more than expected.
Brent futures settled at $71.31 a barrel, down 4 cents after touching its highest since May 2019 earlier in the session. U.S. crude settled at $68.81 a barrel, losing 2 cents. WTI prices rose as high as $69.40, the strongest since October 2018, after gaining 1.5% in the previous session.
Financial News
Business Standard
Ø India’s unemployment rate at one year high in May; shoots up to 11.9% against 7.97% in April: CMIE
Ø PLI scheme for telecom gear to make India a global manufacturing hub: Industry
Ø Economy hit by COVID-19 second wave to start recovering from July, says Chief Economic Advisor
Ø India’s IDBI Bank secures USD 239 million debt judgement in UK High Court
Ø Steel becomes costlier; companies hike rates by up to Rs 4,900/tonne in India
Ø Marine products export dips nearly 11 per cent to USD 5.96 bn in FY21
Business Line
Ø Sebi increases overseas investment cap for individual MFs to $1 bn
Ø ACME Solar to sell 50% stake in 900 Mw solar plant to Norway’s Scatec
Ø Britannia Industries to raise Rs 698.51 crore via bonus debentures
Ø Manipal Group buys Vikram Hospital for Rs 350 cr in second deal this year
Ø In talks with Pfizer, Moderna, J&J to make vaccines in India: Foreign secy
Ø India’s market capitalisation to GDP ratio at 115%; highest since 2008
Mint
Ø India, UK collaborate on industrial energy efficiency
Ø Vedanta commissions oxygen plant in Tamil Nadu
Ø Lupin to enter digital healthcare space in India
Ø CCI approves acquisition of Avana, TFPL and Unifeeder
Ø Tata Motors arm raises $425 m via unsecured notes
Ø G-Sec market sees mild rally despite two papers devolving on PDs at the auction
Financial Express
Ø India to begin FTA negotiations with EU and UK by year-end
Ø Reliance BP Mobility sets up 24 battery swap stations, to expand further
Ø Underwriters save another India bond auction ahead of RBI policy
Ø Saudis increase oil prices for Asia customers as market tightens
Ø CBIC cuts tax on ship repair services
Business World
Ø Hiring activity improves sequentially in May: Report
Ø India’s services sector activities slumps into contraction territory in May: PMI
Ø HDFC Bank plans to become carbon neutral by 2031-32
Ø TCS Targets Net-Zero Emissions By 2030
Ø Sensex, Nifty Closes At High
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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