World Markets

World Markets

16 June 2021

World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.

  • Dollar holds near one-month high; focus on Fed’s inflation take
  • Asia-Pacific stocks mixed; Japan’s May export data misses expectations
  • Oil continue to rise on strong demand and tight supplies

World MarketsCurrency

The dollar held near a one-month high against a basket of currencies on Wednesday as investors tried to ascertain if the Federal Reserve might alter the language on its stimulus following a recent jump in U.S. inflation.

The dollar index stood at 90.528, having hit a one-month high of 90.677 on Tuesday despite mixed U.S. economic data. The euro stood at $1.2126, little changed on the day but struggling to recover from its fall last week after the European Central Bank pledged to keep stimulus steady over the summer.

The yen was flat at 110.08 yen per dollar, near its two-month low of 110.325 touched earlier this month, with the Bank of Japan expected to extend some of its pandemic relief measures this week.

The British pound, a strong performer so far this year, hit a one-month low of $1.4035 on Tuesday despite stronger-than-expected employment data. It last stood at $1.4085.

Equity

Shares in Asia-Pacific struggled for direction in Wednesday morning trade as investors looked ahead to data releases in China as well as the U.S. Federal Reserve’s interest rate decision.

In Japan, the Nikkei 225 slipped 0.27% while the Topix index gained 0.17%. Japan’s exports in May rose 49.6% from a year earlier. Elsewhere, mainland Chinese stocks slipped in early trade. The Shanghai composite shed 0.36% while the Shenzhen component declined 0.371%. Hong Kong’s Hang Seng index fell 0.27%.

South Korea’s Kospi edged 0.5% higher. Australian stocks advanced as the S&P/ASX 200 gained 0.3%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.13% lower.

Oil

Oil prices continued their bullish run to hit their highest in more than two years amid signs of stronger demand and still tight supplies.

Brent climbed 48 cents to $74.47 a barrel and was aiming for the 2019 peak of $75.63, while U.S. crude added 48 cents to $72.60.

Financial News

Economic Times

– Dish TV board to meet next week to consider fundraising of up to Rs 1,000 cr

– Ashok Leyland wing acquires electric vehicles maker Switch Mobility Automotive

– ONGC Videsh plans to raise $525 million

– Dr Reddy’s ordered to pay $46.25 mn to Hatchtech

– Amara Raja to bet big on new-age batteries

– LIC Housing Finance Q4 results: Net profit falls due to higher provisions

Financial Express

– Dalmia Bharat Sugar to double ethanol-making capacity by 2022

– Anupam Rasayan clears debt worth Rs 530 cr from IPO proceeds

– Logistics sector ups hiring to keep pace with booming e-commerce

– Hardening of imported solar PV module price to moderate project returns: Icra

Business Standard

– Coal India to close down 23 unviable mines, to help save around Rs 500 cr

– Fitch Ratings affirms Adani Ports at ‘BBB-‘; outlook negative

– Ruchi Soya buys biscuits, noodles unit from Patanjali for Rs 65 cr

– Indian pharma companies’ sales to rise after resilience in FY21: Fitch

Business Line

– Freezing of 3 FPI ACs not related to Adani Group, clarifies NSDL

– Lenders to take 60% haircut on Authum Infra’s ₹2,887-crore top bid for Reliance Home Fin

– To produce ethanol, India will use corn as feedstock

– KIMS Hospitals raises ₹955 cr from 43 anchor investors

Mint

– FPIs make U-turn to  Indian  markets as covid cases fall

– Dodla Dairy raises Rs156 crore from anchor investors ahead of IPO

– ICICI Bank raises  ₹2,827 crore by issuing bonds

– Oil trades at multi-year highs on demand expectations

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.

 

Sources

https://www.reuters.com/

https://in.investing.com/