Thursday, 01 Jul 2021 07:41 AM MYT
Asset markets have been buoyed over the past year by trillions of dollars in monetary and fiscal stimulus from global central banks responding to the pandemic. Reuters pic
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NEW YORK, July 1 ― Global shares retreated from recent highs yesterday, as Asian markets grew jittery about a resurgence of Covid-19 cases and Western markets awaited tomorrow s US jobs report and what it might mean for monetary policy.
Asset markets have been buoyed over the past year by trillions of dollars in monetary and fiscal stimulus from global central banks responding to the pandemic.
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Dollar rises: The dollar held firm near a three-month high scaled in the previous session. A stronger dollar makes Indian investors nervous as higher the greenback, more outflow the emerging markets see. The yield on benchmark ten-year US Treasuries was steady in Asia at 1.4663 per cent.
Hawks flock: Federal Reserve Bank of Dallas President Robert Kaplan said Wednesday he would like the Fed to start reducing its support for the economy before the end of the year, in part to make an abrupt policy tightening less likely later on.
Broader markets
Broader market indices were trading mixed, wobbling around the flatline in morning trade. Nifty Smallcap was up 0.38 per cent, while Nifty Midcap declined 0.26 per cent. Broadest index on NSE, Nifty 500 advanced 0.05 per cent.
RPT-PRECIOUS-Gold dips on firmer dollar as market eye U.S. jobs data Reuters 7 hrs ago
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July 1 (Reuters) - Gold prices edged lower on Thursday, as the dollar hovered near a three-month peak, with investors looking ahead to a key U.S. jobs report due later this week for clues on what it might mean for monetary policy.
FUNDAMENTALS Spot gold eased 0.1% to $1,769.11 per ounce, as of 0117 GMT. U.S. gold futures fell 0.2% to $1,768.10. The dollar held firm near a three-month high scaled in the previous session. A stronger dollar makes greenback-priced metals more expensive for holders of other currencies.
By Elizabeth Dilts Marshall NEW YORK (Reuters) -Global shares retreated from recent highs on Wednesday, as Asian markets grew jittery about a resurgence of COVID-19 cases and Western markets awaited Friday s U.S. jobs report and what it might mean for monetary policy. Asset markets have been buoyed over the past year by trillions of dollars in monetary and fiscal stimulus from global central banks responding to the pandemic. Successful vaccination rollouts have fueled economic recoveries in some places, with consumer confidence in June surging in Europe and the United States. But fears over a sudden rise in inflation and the highly contagious Delta variant combined with investors taking gains as the first half of the year ended on Wednesday.