13 July 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar tiptoes toward inflation, Fed rates test
- Asia-Pacific stocks edge higher as investors await China’s trade data for June
- Oil rises on expectations of U.S. crude stocks falling
The dollar found support on Tuesday ahead of U.S. inflation data, with investors on edge over whether the figures may offer clues about the likely timing of tapering and interest rate hikes.
Against the euro the greenback held a small Monday gain to trade at $1.1861, with the common currency also weighed after European Central Bank President Christine Lagarde hinted at a dovish shift to the rates outlook for Europe.
The Japanese currency stood at 110.31 yen per dollar on Tuesday, having slipped overnight to edge further away from last week’s one-month high of 109.535. The franc was steady at 0.9151 per dollar, close to a one-month high.
The Australian dollar was broadly steady at $0.7487, as was the kiwi at $0.6991. Sterling held at $1.3892 amid nerves about England abandoning COVID-19 restrictions next week even as cases keep on climbing. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was flat at 92.202,
Shares in Asia-Pacific were higher in Tuesday morning trade as investors awaited the release of China’s trade data for June.
The Nikkei 225 in Japan gained 0.75% in morning trade while the Topix index advanced 0.72%. South Korea’s Kospi climbed 0.6%. In mainland China, the Shanghai composite rose 0.12% while the Shenzhen component gained 0.288%. Hong Kong’s Hang Seng index jumped 0.75%.
Shares in Australia advanced as the S&P/ASX 200 edged 0.52% higher. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.48% higher.
Oil rose on Tuesday, recovering from the previous day’s drop, as expectations of further declines in U.S. crude inventories outweighed fears that spreading COVID-19 variants could derail a global economic recovery.
Brent crude for September climbed 25 cents, or 0.3%, to $75.41 a barrel , after losing 0.5% on Monday. U.S. West Texas Intermediate crude for August was at $74.33 a barrel, up 23 cents, or 0.3%, having fallen 0.6% the previous day.
Subscribe to our 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.