World Markets
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
Currency
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.
Equity
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
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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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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