Global Markets:
- Asian Stock Markets : Nikkei up 1.47%, Shanghai Composite down 1.04%, Hang Seng up 0.48% ASX up 0.65%
- Commodities : Gold at $2055.5 (0.17%), Silver at $24.13 (0.04%), Brent Oil at $79.06 (0.23%), WTI Oil at $74.17 (0.34%)
- Rates : US 10-year yield at 3.899, UK 10-year yield at 3.686, Germany 10-year yield at 1.996
News & Data:
- (CAD) CPI m/m 0.1% vs -0.1% expected
- (CAD) Median CPI y/y 3.4% vs 3.3% expected
- (CAD) Trimmed CPI y/y 3.5% vs 3.4% expected
- (USD) Building Permits 1.46M vs 1.47M expected
- (USD) Housing starts 1.56M vs 1.36M expected
Markets Update:
Asian markets surged on Wednesday, with Japan’s stocks extending gains after the Bank of Japan maintained its ultra-loose monetary policy, keeping interest rates at -0.1%. The commitment to the yield curve control policy and Governor Kazuo Ueda’s dovish tone at the press conference bolstered positive sentiment.
China’s People’s Bank held its one-year loan prime rate at 3.45% and the five-year benchmark loan rate at 4.2%, mirroring the upbeat mood from Wall Street’s rally. The S&P 500 edged closer to its peak, while the Dow Jones Industrial Average continued its upward trend for the ninth consecutive day.
Australia’s S&P/ASX 200 reached a 10-month high, closing 0.65% higher at 7,537.90. Hong Kong’s Hang Seng index gained 0.48%, while China’s CSI 300 was the only major Asian market to dip, falling by 0.52%.
Japan’s Nikkei 225 rose by 1.47%, and the broader Topix climbed 0.9%. South Korea’s Kospi led gains among Asia-Pacific markets, surging by 1.72%, while the small-cap Kosdaq added 0.44%. Wall Street’s S&P 500 edged up by 0.59%, nearing its record high, reflecting the Federal Reserve’s recent stance on rates. The Dow Jones Industrial Average rose by 0.68% to 37,557.92, while the Nasdaq Composite reached above the 15,000 level for the first time since January 2022, advancing by 0.66% to 15,003.22.
Upcoming Events:
- 1:30 PM GMT – USD Current Account
- 3:00 PM GMT – EUR Consumer Confidence
- 3:00 PM GMT – USD Existing Home Sales
- 3:30 PM GMT – USD Crude Oil Inventories
