World Markets
02 July 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar rides high to U.S. jobs test
- Mainland Chinese stocks fall 1%; investors look ahead to U.S. jobs report
- Oil steady after OPEC+ delays meeting on supply decision
Currency
The U.S. dollar was perched at a 15-month high on the yen and at multi-month peaks against other majors on Friday, as traders wagered strong U.S. labour data could lift it even further.
The dollar has climbed 0.7% against the yen this week and hit its highest since March 2020 on Friday, as investors have re-assessed short dollar positions following months of strong data and a hawkish shift in tone from the Federal Reserve.
The dollar rose 0.06% to 111.65 yen early in Asia, and at $1.1843 per euro it was also a whisker short of Thursday’s three-month high of $1.1837 per euro.
It crept to a fresh two-and-a-half month high of $1.3752 against the British pound and sat near its highest since December against the Australian dollar at $0.7467.
The U.S. dollar index was steady at 92.549 in Asia, having gained 0.8% over the week so far and moves elsewhere were slight as markets await the U.S. data.
Equity
Asia-Pacific stocks were mixed in Friday morning trade as investors look ahead to a closely-watched U.S. jobs report set to be released later.
Mainland Chinese stocks led losses among the region’s major markets as the Shanghai composite fell 1.07% while the Shenzhen component dropped 1.321%. Hong Kong’s Hang Seng index declined 0.92%.
The Nikkei 225 in Japan nudged 0.3% higher while the Topix index gained 0.81%. South Korea’s Kospi rose 0.25%. Shares in Australia rose as the S&P/ASX 200 advanced 0.24%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.42% lower.
Oil
Oil prices held steady on Friday after OPEC+ ministers delayed a meeting on output policy as the United Arab Emirates balked at a plan to add back 2 million barrels per day (bpd) in the second half of the year.
U.S. West Texas Intermediate (WTI) crude futures were up 5 cents at $75.28 a barrel , having jumped 2.4% on Thursday to close at their highest since October 2018. Brent crude futures inched up 4 cents to $75.88 a barrel, after rising 1.6% on Thursday.
Business News Headline
Economic Times
Ø Vedanta Group to invest Rs 5,000 crore on social impact programmes
Ø Srei Infra Finance’s board okays fundraising of up to Rs 2,500 crore
Ø Temasek-owned Olam to sell Maharashtra Sugar plant to Wilmar-Renuka for Rs 350-500 crore
Ø JSW Steel to pump in over Rs 25,000 crore to ramp up capacity
Ø Jindal Steel and Power to invest Rs 7,500 crore, set up steel plant in Andhra Pradesh
Ø Piramal Investment Advisory Services, 4 others settle case with Sebi
Ø Puravankara FY21 sales bookings up 28% at Rs 2,202 crore
Ø 9 NTPC units in eastern region achieve highest ever quarterly power generation
Ø Ashok Leyland total June dispatches zoom to 6,448 units
Ø Adani Ports aims to double Ebitda by 2025
Ø GR Infraprojects IPO price band set at Rs 828-837; grey market premium at 41%
Business Standard
Ø Banks’ asset quality remained stable during pandemic year: RBI FSR
Ø Financial creditors to take 95% haircut on Rs 7,800 cr Jet Airways dues
Ø ‘Telecom industry in trouble’ is an understatement: Airtel’s Sunil Mittal
Ø RIL’s gigafactory-sized ambition for hydrogen could be a game changer
Ø Auto firms post record production in June, make up for halt in May
Financial Express
Ø Sebi floats consultation paper on Superior Voting Rights Share framework
Ø Insider trading case: Sebi bars Biocon’s official from securities market for 3 months, levies fine
Ø Fiscal deficit reined in at 8.2% of Budget Estimate
Ø Ministries told to limit Q2 spending at 20% of BE
Ø Govt removes import restrictions on refined palm oil till December
Ø Eight core sectors’ output rises 16.8 pc in May
Mint
Ø Supply chain deficit set to raise prices of electronic products
Ø Oil prices surge as OPEC weighs rising demand in rich countries
Ø UPI transactions surge to ₹5.47 lakh crore in June
Ø OPEC+ panel recommends gradual oil-output hikes for rest of year
Ø Investors’ wealth soars ₹25.46 lakh cr so far this fiscal
Ø JSW Steel to pump in over ₹25,000 cr to ramp up capacity to 37 million tonne
Business Line
Ø Reliance Securities: SEBI confirms ban on 19 entities in front running case
Ø Tata Steel eyes 25 per cent sales from its digital platform
Ø OneWeb is part of the India vision: Sunil Mittal
Ø Cabinet approves additional ₹19,041 crore for BharatNet PPP
Ø Zydus seeks emergency-use nod for plasmid DNA vaccine
Ø Centre approves proposals for 14 companies under PLI scheme for IT Hardware Products
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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