World Markets
15 June 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar hovers near one-month high with market frozen before Fed test
- Asian shares rise in early trade, investors eye Fed meeting
- Oil steadies after hitting 2-yr high as demand hopes face supply growth
Currency
The dollar hovered below a one-month high compared with major peers on Tuesday ahead of a much-anticipated Federal Reserve meeting that could signal a change in the outlook for U.S. monetary policy.
The dollar index, which measures the greenback against a basket of six currencies, was flat early in Asia at 90.517. It has pushed briefly above 90.60 in each of the last two sessions, and 90.63 would be the strongest level since May 14. The euro was little changed at $1.21185 on Tuesday, near an almost one-month low at $1.20930 reached on Friday. The yen was at 110.075 per dollar, almost flat from Monday, after a more than 0.3% slide in each of the past two sessions.
Equity
Asian shares rose early on Tuesday, tracking Wall Street higher, though investors looked to a much-anticipated Federal Reserve policy meeting to see if the central bank would signal any change to the U.S. monetary policy outlook.
Japan’s Nikkei rose 0.89% in early trading and MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.23%. An early driver was Australian shares , which rose 1.03%, though Chinese blue chips dropped 0.16% and Hong Kong fell 0.21%. All three resumed trading after being shut on Monday for a public holiday.
Overnight the S&P 500 and Nasdaq closed at record highs, helped by tech names, though the Dow Jones Industrial Average fell 0.25%. U.S. stock futures, the S&P 500 e-minis, were also up 0.11%.
Oil
Oil prices ended mostly unchanged on Monday, after hitting their highest levels in more than two years, as growing U.S. crude production and Britain’s delayed COVID-19 reopening dampened expectations for fuel demand growth and tighter supplies.
Brent settled up 17 cents at $72.86 a barrel. Earlier in the session, it reached $73.64 a barrel, its highest since April 2019. U.S. West Texas Intermediate fell 3 cents to settle at $70.88 a barrel, after earlier touching $71.78 a barrel, its highest since October 2018.
Financial News
Economic Times
– Government may raise foreign investment limit to aid BPCL sale
– Sun TV management faces investor ire over sharp cut in FY21 dividend
– NARCL sponsor Canara to put in up to 12% equity
– Amara Raja to invest in lithium-ion batteries, expand current biz verticals
– Infosys hired 3000 employees in US in FY21, EU strength dips
– ZEE5 partners TVF for originals, library content
Financial Express
– RBI proposes uniform regulatory framework for microfinance sector
– Retail inflation hits 6-month high of 6.3 pc in May on costlier food, fuel; wholesale inflation at record 12.94 pc
– India’s Q1 merchandise exports may grow to USD 87.2 billion: Exim Bank
– WPI inflation hits all-time high of 12.94 pc in May on costlier fuel, low base
Business Standard
– SAIL sits on 42 mn tonnes of sub-grade ore, mulls beneficiation plant
– Tata AIA Life Insurance FY21 total premium up 34% to Rs 11,105 cr
– Coal India’s FY21 profit tumbles 24% as power, metal sector demand dwindles
– JK Tyre to spend Rs 200 crore in next two years to enhance production
Mint
– SBI Card raises ₹500 cr via bonds
– Apax Partners sells 11.41% stake in Zensar Technologies for ₹760 crore
– Air passenger traffic rises for second straight week
– NSDL says no freeze on accounts of 3 FPIs holding Adani Group’s stocks
– Vedanta to provide enhanced Covid Cover for employees, families & partners
Business Line
– Maruti Suzuki, Toyota scrappage centre set to kick-start next month
– IOB makes a strong turnaround with yearly profit of ₹831 crore
– JSW Cement enters into construction chem business
– Govt puts export of Remdesivir and Remdesivir API under restricted category
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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