12 July 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Pressure on risk currencies subside, U.S. inflation in focus
- Asia shares enjoy relief rally, but hurdles ahead
- Brent stays above $75/bbl amid impasse in OPEC+ talks
Risk currencies hovered above their recent lows against the dollar and the yen on Monday, as fears about slowdown in the global economic recovery appeared to have subsided for now.
The euro traded at $1.1873, edging back from its three-month low of $1.17815 set on Wednesday while against the yen the common currency stood at 130.87 yen, off Thursday’s 2-1/2-month low of 129.63 yen. Sterling also ticked up to $1.3900 while the Australian dollar bounced back to $0.7487 from Friday’s seven-month low of $0.7410.
A recovery in risk sentiment hampered the safe-haven yen on Monday. The Japanese currency stood at 110.17 yen per dollar, off Thursday’s one-month high of 109.535. U.s. dollar Index was last at 92.147 on a basket of currencies, after touching a three-month top of 92.844 last week.
Asian shares were enjoying a relief rally on Monday as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth, though plenty of potential pitfalls lay ahead this week.
Early Monday, MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4%, after shedding 2.3% last week. Japan’s Nikkei bounced 1.9%, and away from a two-month trough touched on Friday, while South Korea added 0.6%. Nasdaq futures rose 0.1% and S&P 500 futures were a fraction firmer.
Oil prices were little changed in early Asian trade on Monday as an impasse in talks among key producers to raise output in coming months kept supplies tight, offsetting concerns about coronavirus’ impact on the global economy.
Brent crude for September fell 4 cents to $75.51 a barrel while U.S. West Texas Intermediate crude for August was at $74.57 a barrel, up 1 cent.
Business News Headlines
Ø EaseMyTrip aims 100% growth this year
Ø Jet Airways owes employees between Rs 3 lakh and Rs 85 lakh. New owners want to pay Rs 23,000 to each
Ø Don’t rely on markets to see inflation threat: Ex-US Treasury sec
Ø FPIs pull out Rs 2,249 crore from Indian equities in July so far
Ø Global boom in house prices becomes a dilemma for central banks
Ø PNB Housing’s bond investors not worried, yields drop up to 211 bps
Ø Indian tea exports likely to fall nearly 15 per cent in 2021
Ø India poised for double-digit growth this fiscal; disinvestment climate looks better: Niti VC
Ø FPIs turn bullish on insurance stocks amid revival in premium collection
Ø Govt identifies items for customs exemptions review, seeks industry views
Ø Swift recovery expected due to limited impact of lockdown on economy: Survey
Ø Vedanta among 11 bidders vying for Videocon’s Brazil assets worth $2 bn
Ø Hero Electric Vehicles to invest Rs 700 crore in business expansion by 2025
Ø Maruti shifts Dzire production to Gujarat to create space for new launches
Ø India’s coal import rises 20 pc in May; volumes may be subdued in monsoon
Ø Govt moves deadline for legal advisors to bid for managing IDBI Bank sale
Ø ‘Christie fiction’: Biocon chief slams Sebi order on Allegro Capital
Ø SPARC raises over Rs 1,110 cr; issues warrants to Dilip Shanghvi, others
Ø Sovereign Gold Bond Scheme IV: Issue price fixed at Rs 4,807 per gram
Ø Amid consolidation, gains for realty index may continue in the near term
Ø Investors raise exposure to equity funds amid pandemic: Cafemutual Survey
Ø High iron-ore, pellet prices forcing small secondary steel units to close shops
Ø Real estate investment tops $1.35 bn in Q2 2021, shows nine-fold increase YoY: JLL
Ø India’s fuel demand rebounds in June
Ø Six of top-10 valued companies lose Rs 92,147 cr in market valuation
Ø Cement – Q1FY22 Preview: Resilient performance expected in quarter
Ø Sebi puts in place guidelines on valuation of securities with multiple put options
Ø Clean Science IPO subscribed 93.41 times on final day of subscription
Ø GR Infraprojects IPO subscribed 102.58 times
Ø Current environment is supportive of further equity gains: UBS
Ø Stock markets remain resilient despite covid-19; use corrections as opportunities
Ø Tata Motors rating – Buy: Semiconductor shortage to hit volumes
Ø Earnings kick off with sky-high forecasts, record stock market
Ø Ujjivan to seek RBI’s nod for merger of holding company with itself
Ø GST authorities detect fake invoices worth ₹551 crore
Ø ‘India to see double-digit growth in FY22; disinvestment climate looks better’
Ø Investment advisors cannot take power of attorney from clients: Sebi
Ø Indian banks to see bad loans peaking post FY23: Fitch
Ø ISG’s outlook likely to keep the hopes alive for IT stocks
Ø Numbers to watch this week: Infosys results, inflation, China GDP
Ø India’s SJVN pitches for more hydropower projects from Nepal
Ø Equitas to merge holding company with small finance bank
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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.