Market Drivers – Asian Session 10-11-2021

The Asian session did not witness violent volatility and the markets are now waiting for inflation data from the US.

China on Wednesday floated euro-denominated sovereign bonds, raising 4 billion euros ($4.62 billion), three weeks after issuing billions of dollars in dollar-denominated bonds.

The Chinese Ministry of Finance said that it issued euro-denominated bonds in 3 tranches, with maturities of 3, 7, and 12 years, according to the offering document seen by Reuters.

Oil prices rose on Wednesday, extending strong gains in the previous session after industry data showed that US crude stocks fell unexpectedly last week as demand for travel rose in the near term as restrictions on the spread of the Coronavirus pandemic eased, and Brent crude futures reached $85.22 a barrel, up 44 cents, or 0.5%, after rising 1.6% on Tuesday.

The dollar index rose 0.19 percent to 94.146 points, after falling from its highest level in more than a year of 94.634 recorded on Friday.

Data released on Wednesday showed that Turkey’s unemployment rate fell to 11.5 percent in September from 11.8 percent the previous month, while the seasonally adjusted disguised unemployment rose to 21.9 percent from 21.7 percent.