Global Markets:
- Asian Stock Markets : Nikkei up 0.10%, Shanghai Composite up 0.32%, Hang Seng up 1.34% ASX up 0.50%
- Commodities : Gold at $2004.5 (0.52%), Silver at $23.30 (1.04%), Brent Oil at $76.56 (0.82%), WTI Oil at $71.97 (0.83%)
- Rates : US 10-year yield at 4.206, UK 10-year yield at 4.114, Germany 10-year yield at 2.249
News & Data:
- (JPY) PPI y/y 0.3% vs 0.1% expected
Markets Update:
Asia-Pacific markets saw moderate gains, largely led by Japan’s Nikkei 225, which rose 0.61% after a 1.6% surge in the previous session. Japan’s producer prices exceeded expectations, showing a 0.3% year-on-year increase compared to the predicted 0.1%. The Federal Reserve’s meeting began, anticipated to maintain the Federal Funds rate within the 5.25%-5.5% range.
The Japanese yen showed slight strength against the dollar, trading around 0.1% higher at 146.04, as investors awaited the Fed’s decision’s impact on the currency pair. In the U.S., all major indexes marked gains, with the Dow Jones Industrial Average closing at its highest level since January 2022, rising by 0.43%, while the S&P500 and Nasdaq Composite climbed by 0.39% and 0.20%, respectively.
Across the region, Australia’s S&P/ASX 200 rose by 0.4%, potentially reaching its highest point since September. South Korea’s Kospi saw a 0.28% increase, contrasting with the smaller Kosdaq index slipping slightly. Hong Kong’s Hang Seng index rebounded by 0.48% from a year-low, while China’s mainland CSI 300 index experienced a 0.28% decline.
Investors also awaited the U.S. November inflation data, expected at 3.1%, slightly lower than October’s 3.2%, based on a Reuters poll. The global focus remained on the Fed’s decision and its potential implications for currencies and market movements globally.
Upcoming Events:
- 1:30 PM GMT – USD Core CPI m/m
- 1:30 PM GMT – USD CPI m/m
- 1:30 PM GMT – USD CPI y/y
