Sensex, Nifty Seen Opening Lower After Strong Rally

RTTNews | 1085天前

(RTTNews) - Indian shares look set to open a tad lower on Wednesday following the previous session's strong rally.

Risk-off sentiment prevails in financial markets, with the dollar and Treasury yields firming up amid expectations that the U.S. Federal Reserve will deliver another 75-bsis point interest-rate hike in July, followed by a half-percentage-point rise in September.

Benchmark indexes Sensex and the Nifty jumped around 1.8 percent and 1.9 percent respectively on Tuesday to extend gains for a second straight session, while the rupee settled at a new record low of 78.08 against the dollar.

Asian markets traded mostly lower in cautious trade this morning as investors awaited Fed Chair Jerome Powell's key testimony before the congress.

Oil prices fell more than 3 percent in Asian trade amid a push by U.S. President Joe Biden to bring down soaring fuel costs.

To curtail rising gas prices, Biden is expected to call for temporarily suspending the 18.4-cents a gallon federal tax on gasoline.

U.S. stocks rebounded on Tuesday as traders returned to their desks after a long holiday weekend.

The S&P 500 added 2.5 percent following the worst week since March 2020 and the Dow climbed 2.2 percent to post its best single-day gain since May 4 while the tech-heavy Nasdaq Composite surged 2.5 percent.

European stocks also rose on Tuesday despite growing worries about ebbing global growth.

The pan-European Stoxx 600 inched up 0.4 percent after hitting a more than one-year low last week. The German DAX edged up 0.2 percent, France's CAC 40 index gained 0.8 percent and the U.K.'s FTSE 100 rose 0.4 percent.

KOSPI May Challenge Resistance At 2,900 Points

The South Korea stock market has finished higher in five straight sessions, collecting more than 175 points or 6.4 percent along the way. The KOSPI now rests just above the 2,870-point plateau and it's tipped to open in the green again on Wednesday.

RTTNews | 12分钟前

Japan Producer Price Data Due On Wednesday

Japan will on Tuesday release May figures for producer prices, highlighting a light day for Asia-Pacific economic activity. In April, producer prices were up 0.2 percent on month and 4.0 percent on year.

RTTNews | 1小时12分钟前

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

RTTNews | 2小时59分钟前

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

RTTNews | 3小时5分钟前

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

RTTNews | 3小时46分钟前

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | 5小时11分钟前

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | 5小时26分钟前

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | 6小时34分钟前

EURUSD	1.14326	GBPUSD	1.35041	AUDUSD	0.65305
USDJPY	144.916	USDCAD	1.36657	USDCHF	0.82226

Advertisement

Sensex, Nifty Seen Opening Lower After Strong Rally