11 June 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar marooned as investors shrug off inflation spike
- Asia-Pacific stocks mixed; S&P 500 sails to record close on Wall Street
- Oil trims gains, but heads for third weekly rise on demand recovery
After a week of anxious waiting, markets got the high U.S. inflation number they dreaded, shrugged it off and moved on – leaving the U.S. dollar under pressure and most majors stuck in ranges.
The dollar bought 109.37 yen and was headed for a small weekly loss. It was also on track for modest weekly losses on the Aussie dollar and British pound, last trading at $0.7748 per Aussie and $1.4171 per pound. A dovish commitment from the European Central Bank to stick with its elevated tempo of bond buying held the euro in check at $1.2175.
The U.S. dollar index fell slightly after the inflation figures were published and last sat at 90.041, more or less flat for the week.
Shares in Asia-Pacific were mixed in Friday morning trade, following gains overnight on Wall Street that saw the S&P 500 sailing to a record closing high.
The Nikkei 225 in Japan edged 0.16% in early trade while the Topix sat below the flatline. Over in South Korea, the Kospi edged 0.57% higher. Shares in Australia were muted as the S&P/ASX 200 traded below the flatline. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.14% higher.
Overnight stateside, the S&P 500 rose nearly 0.5% to a record closing high of 4,239.18. The Dow Jones Industrial Average climbed 19.1 points to 34,466.24 while the Nasdaq Composite gained 0.78% to 14,020.33.
Oil prices slipped on Friday but were set for their third weekly rise on expectations for a recovery in fuel demand in Europe, China and the United States as rising vaccination rates lead to an easing of pandemic curbs.
Brent crude futures fell 23 cents, or 0.3%, to $72.29 a barrel , reversing most of Thursday’s climb to its highest close since May 2019. U.S. West Texas Intermediate (WTI) crude futures slipped 22 cents, or 0.3%, to $70.07 a barrel, after climbing 0.5% on Thursday to its highest close since October 2018.
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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.