LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Global Markets: Euro, bond yields rise on buoyant business surveys

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Wed, Aug 23, 2017
05:38 pm
Reuters
RELATED NEWS
Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi
RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here

The European single currency and euro zone government bond yields rose on Wednesday after a survey showed the bloc`s manufacturing businesses had their best month of growth in six-and-a-half years.

U.S. stocks looked set to open lower, with Wall Street futures down 0.3 percent.

Forecast-beating surveys in the euro zone`s two biggest economies, France and Germany , helped pull the euro up against the dollar, which had wobbled against the yen overnight on comments from U.S. President Donald Trump.

The pan-European STOXX 600 however, was dragged down by unloved media stocks. WPP shed more than 10 percent after the world`s largest advertising group cut its sales forecast.

"At a broad level what PMIs are telling you is that the momentum of the euro zone recovery continues and the strength of the euro is not containing it," said Investec economist Philip Shaw.

Earlier, MSCI`s broadest index of Asia-Pacific shares outside Japan inched up to a two-week high, before pulling back.

Australian stocks fell 0.2 percent on the day and South Korea`s KOSPI ended 0.1 percent higher.

Japan`s Nikkei bucked the trend and rose 0.3 percent, taking its cues from Wall Street`s technology-led rally on Tuesday.

The dollar wobbled against the yen after Trump told a rally he would be willing to risk a government shut-down to secure funding for a wall on the U.S. border with Mexico.

Financial markets have been buffeted in recent weeks by heightened tensions on the Korean peninsula, turmoil in the White House, and growing doubts about Trump`s ability to fulfill his economic agenda.

A gathering of global central bankers this week in Jackson Hole, Wyoming, has prompted investors to rebalance their currency positions, leading them to reduce some of their short dollar bets.DOLLAR SLIP

The dollar was down slightly against the yen at 109.38 yen, back near the day`s low plumbed after Trump told supporters in Arizona "If we have to close down our government, we`re building that wall".

The greenback remained clear of a four-month low of 108.605 yen plumbed last week, when turmoil in the White House and geopolitical tensions took a toll on the currency.

The dollar index against a basket of six major currencies was down slightly at 93.412 after rising 0.5 percent the previous day.

Trump`s suggestion the NAFTA trade treaty could be scrapped to jumpstart ongoing renegotiations also sent Mexico`s peso down 0.6 percent against the dollar.

The euro was up 0.2 percent at $1.1784 after slipping about 0.5 percent Tuesday on weaker-than-expected German investor confidence.

Speeches from European Central Bank President Mario Draghi and Fed Chair Janet Yellen will headline the annual Jackson Hole event, although neither are expected to announce any significant policy.

"The ECB is clearly very concerned about the recent appreciation in the euro ... and recent `misinterpretations` by traders to Draghi’s comments will likely mean he steers clear (of discussing policy) once again," said Craig Erlam, senior market analyst at OANDA.

Draghi gave a speech at Lindau, Germany, on Wednesday but did not discuss the ECB`s current monetary policy.

In commodities, Brent crude traded 0.3 percent lower at $51.68 a barrel after data showed a surprise build in U.S. gasoline inventories. Improving Libyan output also added to oversupply concerns in the crude oil market.

Nickel prices rose to an eight-month high while zinc touched its highest since August 2007 on expectations of strong demand from China, supply concerns and declining stockpiles.

Benchmark zinc was up 0.8 percent at $3,142.50 a tonne after rising to $3,231.75, its highest since August 2007. Zinc has risen on expectations of a large global deficit and a sharp fall in stocks.

Spot gold was a shade higher at $1,287.58 an ounce, after losing 0.5 percent overnight as the precious metal felt the pressure from a stronger dollar. Spot gold had reached a nine-month high above $1,300.00 an ounce on Friday.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi
RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here

LATEST NEWS

SBI three-fold strategy for PPF, small saving schemes: Income tax rebate, Interest rates on deposits and more

FICCI writes to 25 CMs on Covid management, urges to avoid lockdown

Stock Market Outlook: Anil Singhvi reveals Nifty, Bank Nifty support range; says global markets, Q4 results to drive street

GOOD NEWS! Modi Govt slashes Remdesivir MRP by half, with retro-effect—This is how much it will cost you now

Covid 19: Railways to fine Rs 500 for not wearing face masks in rail premises, trains

IBPS admit card 2021 released—here is how you can download it from official website ibps.in

Petrol, diesel price unchanged for 2nd consecutive day

SSC CGL Result 2018 released on ssc.nic.in: Steps to check and download explained

India's Forex reserves: MASSIVE surge in gold reserves; despite Covid 19 'peak', overall fund up by $4.34 billion this quarter

Katrina Kaif tests negative for COVID-19

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved