World Markets

World Markets

21 June 2021

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

  • Dollar holds near multi-month high after Fed’s hawkish tilt
  • Asian stocks drop as Fed shift reverberates
  • Oil edges up as Iran nuclear talks drag on

World MarketsCurrency

The dollar held near multi-month peaks against other major currencies on Monday, after the U.S. Federal Reserve surprised markets last week by signaling it would raise interest rates and end emergency bond-buying sooner than expected.

The dollar index, which tracks the greenback against six major currencies, stood at 92.232 after gaining 1.9% last week, its biggest rise since March 2020.

The euro traded at $1.1872, having hit a 2 1/2-month low of $1.1847 on Friday. The British pound fetched $1.3809, standing near Friday’s two-month low of $1.3791. The Australian dollar wobbled at $0.7503, having dropped to as low as $0.7478, a low last seen in December. The safe-haven yen held firmer as the Fed’s tilt hit risk asset prices. It ticked up to 110.185 yen to the dollar, pulling away from Thursday’s 2 1/2-month low of 110.825

Equity

Asian stocks dropped on Monday as investors mulled the implications of a surprise hawkish shift last week by the U.S. Federal Reserve, while the Treasury yield curve flattened further with 30-year yields dropping below 2%.

Japan’s Nikkei led declines with a 3.3% drop and dipped below 28,000 for the first time in a month, while MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1% in early trading. Chinese blue chips opened 0.4% lower, and Australia’s benchmark slid 1.8%.

The three main Wall Street indexes finished sharply lower on Friday, after investors were spooked by hawkish interest rate comments by Bullard.

Oil

Oil prices nudged up on Monday, underpinned by strong demand during the summer driving season and a pause in talks to revive the Iran nuclear deal that could indicate a delay in resumption of supplies from the OPEC producer.

Brent crude futures for August gained 30 cents, or 0.4%, to $73.81 a barrel , while U.S. West Texas Intermediate (WTI) crude for July was at $71.96 a barrel, up 32 cents, or 0.5%.

Subscribe to our Newsletter

https://prashantiforex.in/newsletter/

 

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/