Global markets today: After ending its worst week since early December 2022, US stocks experienced some bottoming and finished higher on Monday. However, this rise in stocks can be attributed to profit booking by US dollar investors as the Dollar Index fell below 105 on Monday. However, US inflation concerns remain around as WTI crude oil prices rise towards $76 levels, as investors look bullish on the Caixin Manufacturing PMI. Meanwhile, in early morning deals, the US dollar has witnessed buying interest while the SGX Nifty is trading flat but in positive territory.
Global markets today: After ending its worst week since early December 2022, US stocks experienced some bottoming and finished higher on Monday. However, this rise in stocks can be attributed to profit booking by US dollar investors as the Dollar Index fell below 105 on Monday. However, US inflation concerns remain around as WTI crude oil prices rise towards $76 levels, as investors look bullish on the Caixin Manufacturing PMI. Meanwhile, in early morning deals, the US dollar has witnessed buying interest while the SGX Nifty is trading flat but in positive territory.
Here we list important global market indicators that can dictate the Indian stock market today:
Here we list important global market indicators that can dictate the Indian stock market today:
American markets
As mentioned above, Wall Street witnessed some bargain hunting on Monday. The Dow Jones rose 0.22 percent, the S&P 500 index rose 0.31 percent, while the Nasdaq rose 0.63 percent.
“Last week, some data spooked investors, the US bond yield climbed again. People have become a bit numb to rate hikes and understand that the terminal rate may be higher than expected, and the market is not worried about inflation data for next month, but for the next 6, 9 or even the 12 months,” said Marc Despallieres, Chief Strategy and Trading Officer at Vantage.
“Last week, some data spooked investors, the US bond yield climbed again. People have become a bit numb to rate hikes and understand that the terminal rate may be higher than expected, and the market is not worried about inflation data for next month, but for the next 6, 9 or even the 12 months,” said Marc Despallieres, Chief Strategy and Trading Officer at Vantage.
US dollar exchange rate
On Monday, the US dollar witnessed some gains, with the dollar index breaking below 105 levels. However, in early morning deals today, the US dollar has managed to get the attention of bulls. The dollar index is up 0.13 percent to 104.737 in Tuesday’s morning session.
US dollar exchange rate
On Monday, the US dollar witnessed some gains, with the dollar index breaking below 105 levels. However, in early morning deals today, the US dollar has managed to get the attention of bulls. The dollar index is up 0.13 percent to 104.737 in Tuesday’s morning session.
“The US Dollar Index is holding lower levels near $104.60 during the central Asian session on Tuesday, after posting its biggest daily loss in five months. It is worth noting that the dollar’s earlier losses may be linked to mixed US data and a rebound in the US Treasury bond yields. At the time of writing, the price is trading at $104,639,” said Marc Despallieres.
“The US Dollar Index is holding lower levels near $104.60 during the central Asian session on Tuesday, after posting its biggest daily loss in five months. It is worth noting that the dollar’s earlier losses may be linked to mixed US data and a rebound in the US Treasury bond yields. At the time of writing, the price is trading at $104,639,” said Marc Despallieres.
Asian markets
In the early morning session, Japan’s Nikkei is up 0.39 percent, the Shanghai index has added 0.23 percent, Hong Kong’s Hang Seng is down 0.55 percent while South Korea’s KOSPI is up over 1 percent.
Asian markets
In the early morning session, Japan’s Nikkei is up 0.39 percent, the Shanghai index has added 0.23 percent, Hong Kong’s Hang Seng is down 0.55 percent while South Korea’s KOSPI is up over 1 percent.
Signaling a tepid opening on Dalal Street, the SGX Nifty today opened flat but in green territory on Tuesday. The SGX Nifty opened today at 17,494 and went on to an intraday high of 17,537. However, profit booking soon triggered and the index bottomed out to hit an intraday low of 17,383. Meanwhile, it soon recovered to hit 17,491, around 3 points higher from Monday’s close.
Signaling a tepid opening on Dalal Street, the SGX Nifty today opened flat but in green territory on Tuesday. The SGX Nifty opened today at 17,494 and went on to an intraday high of 17,537. However, profit booking soon triggered and the index bottomed out to hit an intraday low of 17,383. Meanwhile, it soon recovered to hit 17,491, around 3 points higher from Monday’s close.
“We can expect some short covering in SGX Nifty as the index is trading in oversold zone. It has support placed at 17,300 and 17,150 while facing hurdles at 17,620 and 17,750 levels,” said Anuj Gupta, vice president of research at IIFL Securities.
“We can expect some short covering in SGX Nifty as the index is trading in oversold zone. It has support placed at 17,300 and 17,150 while facing hurdles at 17,620 and 17,750 levels,” said Anuj Gupta, vice president of research at IIFL Securities.
Crude oil price
WTI futures on the NYMEX have extended recovery above immediate resistance at $75.80 in the early Asian session. Oil prices are exposed to the critical resistance of $76.00 as investors are optimistic about the release of Caixin Manufacturing PMI data, which is scheduled for Wednesday.
Crude oil price
WTI futures on the NYMEX have extended recovery above immediate resistance at $75.80 in the early Asian session. Oil prices are exposed to the critical resistance of $76.00 as investors are optimistic about the release of Caixin Manufacturing PMI data, which is scheduled for Wednesday.
At the time of writing, crude oil prices in the international spot market were up 0.03 percent to levels of USD 75.71 per barrel.
At the time of writing, crude oil prices in the international spot market were up 0.03 percent to levels of USD 75.71 per barrel.
US bond yield
In early morning US 10-year yields rose 0.15 percent to 3.928 while US 30-year yields rose 0.26 percent at 3.929 levels.
US bond yield
In early morning US 10-year yields rose 0.15 percent to 3.928 while US 30-year yields rose 0.26 percent at 3.929 levels.
Disclaimer: The views and recommendations above are those of individual analysts or brokerage firms, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
Disclaimer: The views and recommendations above are those of individual analysts or brokerage firms, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
