• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

World shares bounce, dollar edges lower as Biden-Xi call helps mood

September 10, 2021 by David Barret Leave a Comment

September 10, 2021

By Simon Jessop and Alun John

LONDON/HONG KONG (Reuters) – Global shares rose and the dollar edged lower on Friday as news of a call between Xi Jinping and Joe Biden offered some relief to traders eyeing cautious central bank steps towards ending stimulus.

The U.S. president and his Chinese counterpart spoke for 90 minutes in their first talks in seven months on Thursday, discussing the need to avoid letting competition between the world’s two largest economies veer into conflict.

That helped China shares rise 0.9%, giving a fillip to the region and lifting MSCI’s World index, its broadest gauge of global stock markets, up 0.2% in early European deals, ending a three-day losing streak.

Despite the gains, helped by a similar performance across Europe’s top markets, the index remains down 0.7% on the week and on course for its first drop in three, albeit hovering just 1% off a record high and up 92% since the lows of 2020.

U.S. stock futures pointed to a 0.3% high open on Wall Street later in the session.

Observers cautioned, however, against over-interpreting one telephone conversation as a sign of a broader rapprochement between China and the United States, whose relations are more strained that any time in decades.

“There were some small market moves after the news of the call, but it’s not a fundamental change – markets are still more concerned about Fed tapering and China regulation,” said Gary Ng, an economist at Natixis in Hong Kong.

The pace at which central banks, especially the U.S. Federal Reserve and European Central Bank, choose to trim their support to the economy remains the driving force of market sentiment.

Thursday’s move by the ECB to trim its bond purchases is expected to be followed by the Fed later this year according to some officials, despite a weak August labour report.

Against the broader risk-on backdrop, the greenback edged lower on Friday versus a basket of major peers but remained on course for its first weekly gain in three.

The yield on benchmark 10-year Treasury notes, meanwhile, edged up in European hours to 1.3208% compared with its U.S. close of 1.3%.

Elsewhere in currencies, the pound was up 0.2% despite data showing the British economy slowed in July. The euro was up 0.1%.

Oil also gained ground on signs of tight U.S. supplies after Hurricane Ida hit offshore output, with Brent crude up 1.29% at $72.37 a barrel, and U.S. West Texas Intermediate crude at $68.95 a barrel, up 1.19%.

(Editing by Kim Coghill and Mark Heinrich)

Source Link World shares bounce, dollar edges lower as Biden-Xi call helps mood

David Barret
David Barret

Related posts:

  1. EVGA’s broken RTX 3090 graphics cards were victims of ‘poor workmanship’
  2. Labor Day furniture sales: where to find the best early deals
  3. MLB roundup: Rockies stun Phillies with three-run ninth
  4. Spanish Foreign Min in Pakistan to evacuate Afghans who helped Spain

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Is This The World’s Oldest Story? Ancient Human Tale About The Seven Sisters May Be From 100,000 BCE
  • This Pill Is Actually A Tiny Printer That Repairs Internal Injuries Using Biocompatible Ink
  • “This Is Amazing”: Scientists Have Found Evidence Of A Long-Lost World Deep Within The Earth
  • From The Shiniest World To Lava And Eternal Darkness, These Are The Weirdest Known Planets
  • Do Sharks Have Bones?
  • The Zombie Awakens: A Volcano Is Showing “First Signs” Of Unrest After 700,000 Years Of Quiet
  • Two Of The World’s Biggest Earthquakes Seem To Be Synched Together
  • California Has A New State Snake, And It’s A 1.6-Meter-Long Giant
  • Experimental Nanoparticle “Super-Vaccines” Stop Breast, Pancreatic, And Skin Cancers In Their Tracks
  • New Nightmare Fuel Unlocked: Watch The First Known Capture Of A Shrew By A False Widow Spider
  • Peculiar Glow In The Milky Way Might Be Dark Matter Signature
  • “I Was Scared To Death”: Missouri’s Great Cobra Scare Of 1953 Was Eventually Solved After 35 Years
  • Two Spacecraft To Fly Through Comet 3I/ATLAS’s Ion Tail – Will They Be Able To Catch Something?
  • Pioneering Heavy Water Detection Suggests Earth’s Water Might Be Older Than The Sun
  • PhD Students’ Groundbreaking New Technique Rescues JWST’s Highest Resolution Data
  • Popcorn-Like Parasites And Weird Worms Among 14 New Species Discovered In The World’s Oceans
  • Poem From 1181 CE Cairo Appears To Reference A Rare Galactic Supernova
  • With “Iridescent Live Colors”, Newly Discovered Beautiful Dwarfgoby Lives Up To Its Name (Mostly)
  • “Anti-Tail” And Odd 594-Kilometer Feature Found On Interstellar Object 3I/ATLAS By Keck Observatory
  • Why Do We Call It A “Hamburger” When It Doesn’t Contain Ham?
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version