Sensex, Nifty May See Tepid Start On China COVID Worries

RTTNews | 985天前

(RTTNews) - Indian shares look set to open lower on Monday, tracking weak cues from elsewhere across Asia.

The downside, however, may remain capped amid a plunge in oil prices last week on demand worries.

WTI crude futures plummeted around 10 percent last week to reach six-week lows on China demand worries and fears of more aggressive interest-rate hikes in the United States.

Benchmark indexes Sensex and Nifty ended slightly lower last week due to lack of positive triggers.

Movement of the dollar index, FII flows, the scheduled expiry of November month F&O contracts on Thursday, the latest Fed meeting minutes due on November 24 and speeches by several Federal Reserve officials may sway sentiment as the week progresses.

A synchronized tightening of monetary policy globally has progressively increased the risk of a hard landing, but India is differently placed, RBI Governor Shaktikanta Das said.

Asian stocks traded weak this morning amid news of fresh COVID-19 restrictions in China.

Commodity-related stocks bore the brunt of the selling as authorities locked down part of the manufacturing hub of Guangzhou for five days and urged residents of the sprawling Chaoyang district to remain at home today.

The dollar edged higher on safe-haven demand, pushing gold prices lower. Oil hovered near two-month lows as supply fears receded.

U.S. stocks struggled for direction before finishing higher on Friday but posted weekly losses, as weak data on home sales and leading economic indicators failed to ease investor worries about the Federal Reserve's path of monetary tightening.

The Dow gained 0.6 percent and the S&P 500 rose half a percent, snapping two days of losses reflecting a positive reaction to upbeat earnings news. The tech-heavy Nasdaq Composite ended largely unchanged.

European markets closed higher on Friday despite some hawkish remarks from Fed officials and ECB President Christine Lagarde.

The pan European STOXX 600 jumped 1.2 percent. The German DAX advanced 1.2 percent, France's CAC 40 gained 1 percent and the U.K.'s FTSE 100 edged up half a percent.

U.S. Dollar Falls As Weak Jobs Data Lifts Rate Cut Hopes

The U.S. dollar weakened against its major counterparts in the New York session on Friday, as weaker-than-expected jobs data for July strengthened expectations of a Fed rate cut in September.

RTTNews | 16小時39分鐘前

European Stocks Close Sharply Lower As Trump's Tariff Move Hurts Sentiment

European stocks tumbled on Friday, recording one of their worst sessions in several months, as sweeping fresh tariffs announced by U.S. President Donald Trump raised fears of a global economic slowdown, prompting investors to press selling across the board.

RTTNews | 20小時0分鐘前

Canadian Market Remains Firmly Down In Negative Territory On Tariff Worries

The Canadian market got off to a weak start Friday morning and slipped deeper into the red subsequently, as U.S. President Donald Trump's sweeping tariff announcement rendered the mood bearish.

RTTNews | 21小時31分鐘前

U.S. Construction Spending Unexpectedly Sees Further Downside In June

The Commerce Department released a report on Friday unexpectedly showing a continued decrease by U.S. construction spending in the month of June. The report said construction spending fell by 0.4 percent to an annual rate of $2.136 trillion in June after sliding by 0.5 percent to a revised rate of $2.144 trillion in May.

RTTNews | 22小時44分鐘前

U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved marginally less than previously estimated in the month of July. The University of Michigan said its consumer sentiment index for July was downwardly revised to 61.7 from a preliminary reading of 61.8. Economists had expected the index to be upwardly revised to 62.0.

RTTNews | 22小時48分鐘前

U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of July, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI edged down to 48.0 in July after inching up to 49.0 in June with a reading below 50 indicating contraction.

RTTNews | 22小時50分鐘前

Eurozone Inflation Steady At 2% ECB Target

Euro area consumer price inflation was unchanged at the European Central Bank's 2 percent target in July, easing the pressure for more easing. The harmonized index of consumer prices increased 2.0 percent year-on-year in July, the same rate of increase as seen in June. Inflation was forecast to ease marginally to 1.9 percent.

RTTNews | 23小時37分鐘前

U.S. Job Growth Misses Estimates In July, Previous Months' Numbers Revised Sharply Lower

Job growth in the U.S. fell well short of economist estimates in the month of July, according to a closely watched report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment rose by 73,000 jobs in July, while economists had expected employment to jump by 110,000 jobs.

RTTNews | 23小時45分鐘前

EURUSD	1.15956	GBPUSD	1.32834	AUDUSD	0.64735
USDJPY	147.381	USDCAD	1.37779	USDCHF	0.8035

Advertisement

Sensex, Nifty May See Tepid Start On China COVID Worries