Asian bourses started positively following Wall Street peers after a tech-led rebound, and as Fed taper, anxieties decreased after the hawkish FOMC minutes yesterday. South Korea announced that it will keep social distancing rules for another three weeks, while it will additionally watch and take actions on raw material prices if required.
In the US equity markets the ticker printed green as participants digested the bond tapering sign from the Fed. The arguments put forward that the economic recovery will be more gradual and curb inflationary pressures of tapering discussions, so maybe it will not start as soon as it was thought in the last session. On the Geopolitical front, Iran President Rouhani noted the main agreement reached in Vienna, noting they “have agreed to lift all major sanctions”, including oil, petrochemical, shipping, insurance, Central bank, and other bank sanctions. While other issues are being discussed, talks are to pause and resume next week. It is a central theme for the energy complex so that any fresh updates might trigger some relevant price action in the coming sessions.
