USD/JPY Jumps to Monthly High, US Dollar Eyes PCE Inflation Due
2021-05-27 22:35:00
Rich Dvorak,
Analyst
US DOLLAR OUTLOOK: USD/JPY PULLED HIGHER WITH YIELDS AS MARKETS AWAIT PCE INFLATION DATA
US Dollar traded mixed and left the DXY Index little changed on Thursday
USD/JPY surged 70-pips as Treasury yields ticked higher ahead of PCE data
The Yen weakened broadly and likely exacerbated recent USD/JPY strength
The US Dollar finished Thursday’s trading session practically flat gauging by the DXY Index. US Dollar price action was a mixed bag across the board of major currency pairs with strength against the Yen largely offsetting weakness versus the Sterling. Treasury yields climbed for the second day in a row with the ten-year extending its rebound off Wednesday’s swing low to 5.4-basis points. Bond yields stayed perky even after strong demand was seen for today’s $62-billion seven-year Treasury auction.
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NEW DELHI: Industrialist Gautam Adani has added more billions to his personal wealth in 2021 than 19 other Indian billionaires together!
Among the 20 Indian billionaires on Bloomberg Billionaire Index, Adani s fortunes have risen by $35.2 billion in 2021 so far, compared with a $24.5 billion addition in the combined wealth of 19 other Indian billionaires.
Worth $69 billion as of today, Adani is trailing the richest Indian Mukesh Ambani ($77 billion) by only a few billions now.
Other than Adani, eight other Indian billionaires have added $1 billion or more to their personal wealth in 2021. They are Wipro s Azim Premji, whose wealth increased by $6.07 billion to $31.40 billion. Savitri Jindal of OP Jindal group added $4 billion to her wealth, while Lakshmi Mittal added $3.93 billion. Kumar Birla s wealth jumped by $3.25 billion to $10.1 billion. Others included Dilip Shanghvi of Sun Pharma (1.66 billion), Radhakishan Damani of DMart ($1.6 billion), Pankaj Patel of Cadi
Overall, Pakistan weight in the MSCI EM Index would be slightly raised to 0.023pc from 0.016pc. MSCI website/File
KARACHI: The MSCI on Wednesday announced outcome of its Semi-Annual Index review which to the surprise of some major market participants was addition of Lucky Cement to the MSCI Pakistan Index under the MSCI Global Standard Index in place of Oil and Gas Development Company (OGDC), which was eased out as it fell short of the criteria.
The other two constituents would be MCB Bank (MCB) and Habib Bank (HBL). The changes would be effective from May 28.
Under the MSCI Global Small Cap Indexes, TRG Pakistan (TRG) has been added while Indus Motors (INDU), Lucky Cement, National Bank of Pakistan (NBP) and Packages (PKGS) have been removed.