15 July 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar declines as Fed’s Powell maintains dovish message
- Asian shares find support as Powell shrugs off inflation
- Oil falls 1% on prospect of more supplies
The dollar pared recent gains on Wednesday after Federal Reserve Chair Jerome Powell told Congress the U.S. economy was “still a ways off” from levels the central bank wanted to see before tapering its monetary support.
The dollar index was down 0.43% at 92.404, after rising as high as 92.832 – just below the 92.844 hit last week for the first time since April 5. The greenback slipped 0.45% against the euro to $1.183, after touching its highest since April 5.
The yen held overnight gains to trade at 109.88 per dollar, a one-week high. Sterling slipped below its 20-day moving average to $1.3840. The Chinese yuan eased from an overnight one-month high and was last at 6.4613 per dollar in offshore trade.
Asian shares held firm on Thursday after Federal Reserve Chair Jerome Powell said the U.S. economy was “still a ways off” from levels the central bank wanted to see before tapering its monetary support.
MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed in early trade while Japan’s Nikkei dropped 0.4%. Wall Street shares were mixed, with S&P ending 0.12% higher and Nasdaq down 0.22%.
Oil prices fell more than 1% on Thursday, extending losses as investors braced for more supplies following a compromise between top OPEC producers and as U.S. fuel stocks rose, raising concerns about demand in the world’s largest consumer.
Brent crude futures for September dropped 91 cents, or 1.2%, to $73.85 a barrel while U.S. West Texas Intermediate (WTI) crude for August was at $72.21 a barrel, down 92 cents, or 1.3%.
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