Globally, Oil prices fell on Tuesday, extending nearly 2% losses in the previous session, as a stronger U.S. dollar and a flare-up in COVID-19 cases in China increased fears of slowing global demand. India maintains a "healthy dialogue" with Russia and will look at what is offered following an announced ownership revamp to the Sakhalin-1 oil and gas project, Petroleum Minister Hardeep Singh Puri told Reuters. The dollar loomed large over fragile financial markets on Tuesday, with worries about rising interest rates, global growth and geopolitical tensions unsettling investors, while the yen was testing levels that have prompted official intervention. Japanese Finance Minister Shunichi Suzuki said on Tuesday the United States has shown "a certain extent" of understanding about the currency market intervention Tokyo conducted last month. Asian currencies fell further on Tuesday. Russia rained missiles upon Ukraine's cities on Monday in retaliation for blast that damaged the only bridge linking Russia to the annexed Crimean peninsula, with the escalation putting markets in a risk-averse mood. The MSCI global index of stocks lost ground in a volatile session on Monday while the dollar gained slightly as investors braced for high inflation data and the start of corporate earnings season. Nasdaq led the declines and registered its lowest closing level since July 2020, meanwhile Asian market opens on negative note. Gold prices hovered above annual lows on Tuesday after tumbling sharply, Spot Gold slumped nearly 2% on Monday, their worst drop in over two weeks. Rupee remained weak against dollar as its asian peer weakened further and rising dollar index & oil prices.
With Inputs from Reuters. Currency in comparison.
❮
❯
