Global Market Updates
07th July 2016
07th July 2016
1. America
• US stocks rose as the Federal Reserve was seen refraining from raising US interest rates soon, even as economic data showed the world's largest economy regained speed in the second quarter.
•U.S. benchmark and long-dated Treasury yields finished slightly higher on profit after hitting record lows during the session on global growth concerns stemming from Britain's recent vote to exit from the European Union.
• US stocks rose as the Federal Reserve was seen refraining from raising US interest rates soon, even as economic data showed the world's largest economy regained speed in the second quarter.
•U.S. benchmark and long-dated Treasury yields finished slightly higher on profit after hitting record lows during the session on global growth concerns stemming from Britain's recent vote to exit from the European Union.
2. Europe
• Strong demand from euro zone countries for German industrial goods helped to cushion a drop in domestic orders in May, but the overall lackluster data suggested that growth in Europe's largest economy would slow in the second quarter.
•European Union finance ministers will issue a statement at their meeting next week urging bank regulators to avoid imposing a disproportionate increase of costs on European banks, draft conclusions of the meeting said.
• Strong demand from euro zone countries for German industrial goods helped to cushion a drop in domestic orders in May, but the overall lackluster data suggested that growth in Europe's largest economy would slow in the second quarter.
•European Union finance ministers will issue a statement at their meeting next week urging bank regulators to avoid imposing a disproportionate increase of costs on European banks, draft conclusions of the meeting said.
3. Asia
• Japan’s battle with deflation is not expected to end anytime soon, Bank of Japan Governor Haruhiko Kuroda told a conference of branch managers in Tokyo.
•China's state-owned banks face severe bad asset pressure. Risks over China's banks NPLs will continue to rise in the near term.
• Japan’s battle with deflation is not expected to end anytime soon, Bank of Japan Governor Haruhiko Kuroda told a conference of branch managers in Tokyo.
•China's state-owned banks face severe bad asset pressure. Risks over China's banks NPLs will continue to rise in the near term.
4.Currencies
•The Indian rupee opened marginally higher at 67.46/$ against US Dollar as against the previous close of 67.45/$.
•The safe-haven yen rose, while sterling plummeted to a 31-year low on mounting worries about the broader impact that Britain's vote to leave the European Union would have on the global economy. Against the yen, the dollar was down 0.40 pct at 101.29 yen. Sterling was last down 0.72 pct against the greenback at $1.2928. The euro gained 0.21 pct against the greenback to $1.1098.
•The Indian rupee opened marginally higher at 67.46/$ against US Dollar as against the previous close of 67.45/$.
•The safe-haven yen rose, while sterling plummeted to a 31-year low on mounting worries about the broader impact that Britain's vote to leave the European Union would have on the global economy. Against the yen, the dollar was down 0.40 pct at 101.29 yen. Sterling was last down 0.72 pct against the greenback at $1.2928. The euro gained 0.21 pct against the greenback to $1.1098.
5. Commodities
• Oil prices rose in early trading , supported by a report of another fall in U.S. crude inventories as well as a weaker dollar, although a glut of refined products and economic growth concerns continue to weigh on markets.
•Spot gold, which touched its highest since March 2014 at $1,374.91, was trading up 0.4 percent at $1,368.80 an ounce by 0050 GMT.
• Oil prices rose in early trading , supported by a report of another fall in U.S. crude inventories as well as a weaker dollar, although a glut of refined products and economic growth concerns continue to weigh on markets.
•Spot gold, which touched its highest since March 2014 at $1,374.91, was trading up 0.4 percent at $1,368.80 an ounce by 0050 GMT.
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