In 2021, the economies of most European and other Western nations are registering quick growth. Governments of various nations are doing everything to accelerate the economies. The results are now clearly visible. Recently, the pan-European Stoxx 600 registered a growth of 1.2%. Most markets in Europe are performing impressively because they are receiving a strong response from the region of Asia-Pacific. The Asian giant, Japan, has successfully defeated the pandemic. JapanÃ¢â‚¬â„¢s Nikkei 225 was on the forefront of making gains. The US stocks made a major gain on Wall Street recently in May 2021. The Federal Reserve is keeping an eye on the situation and adjusts its monetary policies as per the situation.
Share markets in Asia-Pacific delivered a mix but stable reaction. The mainland Chinese stocks registered some gain. The Shenzhen component surged by about 2.189%. The Shanghai composite made a gain of about 1%. The industrial output and retail sales in China have made a major jump in the last few months. The S&P/ASX 200 in Australia also gained about 0.31%.
One of the most popular currencies of the world is the US Dollar. It is extensively used as a reserve currency. As the American economy is returning to a normal track, investors are showing their confidence in the US Dollar. The Euro rose by about 90.77 in the stock market. In various packers of Asia, the US Dollar managed to get some support. In regions where the problem of pandemic has been controlled, the Dollar made some modest gains. Recently, the greenback has made a gain against both the Yen and Euro. Minor inflation and other factors also affect the performance of the currencies. As most of the European nations are heading towards complete recovery, the Euro is receiving a major boost. Most investors are hopeful that once this pandemic is over, the economies will function with full capacity. The Dollar even outperformed the Chinese Yuan by a margin of 0.1%. As industrial output is enhancing in most nations, the retail sales figures are also going up.
The shares of big semiconductors manufacturers made massive gains. Samsung Electronics was lifted by gains. The S&P 500 also made a gain of about 1.2%. The technology stocks kept on making gains. Leading companies such as Microsoft, Apple, Facebook registered some gains. Not just technical giants, financial companies also registered impressive gains. The Nasdaq climbed by about 0.7%. This week the investors noted bond yields have risen very sharply.
In the month of May, the spot gold registered a growth of 0.1% at about $1,844.60 per ounce. The gold future rose by about 0.4%. When there is a low-interest environment, it benefits the precious yellow metal. This is because the normal opportunity cost of holding non-yielding bullion is reduced.
Request Call Back
Sign up to open account within minutes!Sign up