Shares Stall Near Peaks, Dollar Shuffles Higher

Sensitive cyclical sectors including energy, mining and travel and leisure helped drive Europe modestly higher, while Wall Street’s tech giants, which have surged during the pandemic, were mostly pointing lower again. [.EU][.N]

On Monday, New York Fed head John Williams had said that the U.S. economic momentum was “not nearly enough” yet to change anything.

Bond market borrowing costs inched up on Tuesday, although signs that the world’s major central banks remain in no rush to reel in their massive stimulus schemes kept 10-year U.S. Treasury yields under 1.65% and Germany’s Bund yields below 13-month highs. [GVD/EUR]

Australia’s central bank left its key interest rates at near zero overnight for a fifth straight meeting too and pledged to keep its policies super-supportive for a prolonged period.

MSCI’s broadest global index, which tracks 50 countries, was barely budged just 1% off its record high.

Australia’s S&P/ASX200 had risen 0.6% and Hong Kong had climbed 0.7% in thin Asian trading due to holidays in both China and Japan.

Taiwan’s tech-heavy bourse was the region’s key exception, with stocks closing down 1.7% amid a rare uptick in domestic COVID-19 infections and after Wall Street’s tech indexes had struggled on Monday. [.N]

“We see near-term volatility in inflation as the economic restart progresses, and believe markets under-appreciate potential for medium-term price pressures,” analysts at BlackRock said in their weekly note.


In the currency market, the dollar clawed back some ground to partially unwind last month’s long decline as investors squared up positions ahead of monthly payrolls data due at the end of the week. [FRX/]

The dollar index, which measures its value against a basket of six other major currencies, climbed 0.4% to 91.34, just shy of a near two-week high. It fell more than 2% in April.

Sterling dipped marginally to $1.3865 ahead of a Bank of England meeting on Thursday where analysts reckon the bank may announce a slowdown in its bond buying programme.

There are also key British regional elections on Thursday. Focus will be mostly on Scotland where a big win for the SNP party in the country’s devolved parliament elections would put the issue of independence from the UK firmly back on the radar.

For a graphic on Sterling’s referendum rollercoaster rides:

Cryptocurrency ether powered to another record peak, nearing $3,500.

Oil markets flip-flopped, firsting nudging Brent down 0.2% to $67.38 before hoisting it back to almost $68.50 again. Wheat took a breather after its near 20% April surge while gold dipped from a more than two-month high to $1,785 per ounce. [O/R][GOL/]

Emerging market investors had plenty to juggle too. India’s stock markets dipped as COVID-19 infections surged past 20 million and traders were bracing for another busy day in Latin America. Colombia’s peso slumped on Monday after its president withdrew a tax reform plan, sparking fears for its investment grade credit rating.

Peru’s markets have been rattled by elections, El Salvador’s bonds have been hit by the country’s President ousting top judges while Brazil’s heavyweight central bank is expected to hike interest rates again this week.

For a graphic on India suffering world’s worst COVID wave:

(Reporting by Marc Jones, editing by Ed Osmond and John Stonestreet)

Source link

0 0 voter
Article Rating

Notifier de
0 Commentaires
Commentaires en ligne
Afficher tous les commentaires
Reset Password

Avertissement sur les risques :

Le trading peut vous exposer à des risques de pertes supérieures aux dépôts et ne convient qu’à une clientèle avisée ayant les moyens financiers de supporter un tel risque. Les CFD sont des instruments complexes et présentent un risque élevé de perte rapide en capital en raison de l’effet de levier. Entre 74 et 89% des comptes de clients de détail perdent de l’argent lors de la négociation de CFD. Vous devez vous assurer que vous comprenez comment les CFD fonctionnent et que vous pouvez vous permettre de prendre le risque élevé de perdre votre argent. Ce site n’est en aucun cas une offre de conseil en investissement ni une incitation quelconque à acheter ou vendre des instruments financiers. Trader le Forex et/ou les CFD’s implique un niveau de risque élevé, et peut ne pas être approprié car vous pouvez subir des pertes supérieures à votre dépôt. L’effet de levier peut être en votre défaveur.

Vous devez être conscient et avoir une compréhension complète de tous les risques associés au marché et au trading. Le site peut être amené à produire des commentaires d’ordre général, ce qui ne constitue pas des conseils en investissement et ne doit pas être interprété comme tel.

Veuillez recourir aux conseils d’un conseiller financier extérieur. Le site décline toute responsabilité pour les erreurs, inexactitudes ou omissions et ne garantit pas l’exactitude ou le caractère complet des informations, textes, graphiques, liens ou autres éléments contenus dans cette documentation. Toute information et toute mise à disposition sur le site ont un caractère privé.