30 June 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar drives higher as traders look to Fed clues from U.S. jobs data
- Asia markets trade higher; China set to release data on June factory activity
- Oil prices climb for second day after U.S. stockpiles fall
The dollar clung to recent gains on Wednesday as virus woes raised concerns in a market already on edge ahead of U.S. jobs data seen as crucial to the Federal Reserve’s monetary policy outlook.
Risk-sensitive commodity currencies had led overnight losses, with the Australian and New Zealand dollars each dropping about 0.7%. The euro fell 0.2% overnight while the safe-havens of Japanese yen and the Swiss franc held steady.
Morning trading in Asia did not move majors much from those levels, with the euro last at $1.1902 and the yen at 110.58 per dollar. The Aussie bought $0.7517. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.044 — jumping above levels above 91.7 seen earlier this week.
Asian markets were in positive territory in early trade on Wednesday. Meanwhile, China is set to release its data on manufacturing activity in the morning.
Japan’s Nikkei 225 rose 0.55% in early trade, and the Topix edged up 0.45%. South Korea’s Kospi was up 0.31%. Over in Australia, the S&P/ASX 200 jumped 0.63%. Over on Wall Street, stocks were little changed in light trading although the S&P 500 did notch its 4th straight positive session and an all-time high. The Dow rose 9 points, or less than 1%. The S&P 500 ended the day 0.03% higher and the Nasdaq Composite ended the day up 0.2%.
Oil prices on Wednesday extended the previous day’s small gains after an industry report showed U.S. crude stockpiles fell last week, overriding trader and investor concerns about transportation curbs in some countries as COVID-19 cases surge.
Brent crude was 42 cents, or 0.6% at $75.16 a barrel , after edging higher on Tuesday. U.S. crude was up 53 cents, or 0.7% at $73.51 a barrel, having risen 0.1% in the previous session.
Business News Headline
Ø CCI rejects complaint against NSE with respect to co-location facilities.
Ø NSE-BSE bulk deals: Standard Life sells 4.99% stake in HDFC Life Insurance.
Ø Resident Indian fund managers can now be part of FPIs: Sebi.
Ø Thyrocare all set for rapid growth under the new leadership.
Ø NBFCs focus on digital collections to protect staff.
Ø Limiting avenues for FPIs can lead to downgrade: MSCI.
Ø Anmi urges Maharashtra govt to allow stock brokers to travel by local trains.
Ø Maruti may report 100% growth in June sales; Bajaj Auto to lead two-wheelers.
Ø Adani Group aims to handle 80 million flyers a year.
Ø Chalet Hotels scouting for Covid-hit distressed assets.
Ø Sebi reduces REIT trading lot to one unit; move to enhance market depth.
Ø Bharti to invest Rs 3,700 cr into OneWeb; to become largest shareholder.
Ø NTPC to hive renewable arm and list it soon, plans to add 60 Gw capacity.
Ø India sees fuel demand recovery to pre-pandemic level by end-2021.
Ø Rs 1.75 trillion disinvestment target on track, says CEA Subramanian.
Ø S&P Global cuts India’s growth forecast to 9.5% from 11%, trims EM overall.
Ø Bharti to invest additional Rs 3,700 cr into OneWeb; to become largest shareholder.
Ø Cotton body seeks withdrawal of 10% customs duty.
Ø ITC rating – Hold: Core business concerns limit prospects.
Ø Skanray Technologies files IPO papers with Sebi.
Ø India mulls rules to encourage companies’ shift to green energy.
Ø Govt extends anti-dumping duty on certain steel items till December 15.
Ø CCI rejects complaint of anti-competitive practices made against NSE.
Ø Indiabulls Housing Finance gets board nod for over ₹7,000 cr fund mop-up.
Ø The government’s credit-based stimulus may need some tweaks.
Ø Grid integration with EVs could prevent power failures.
Ø SBI MF launches ETF on Nifty consumption index.
Ø Heritage Foods forays into ready-to-eat segment.
Ø TVS Automobile forms digital aftermarket arm with funds from tech investors.
Ø Sundram Fasteners bags GM’s Supplier of the Year for the 8th time.
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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.