Global Markets:
- Asian Stock Markets : Nikkei up 0.38%, Shanghai Composite up 0.04%, Hang Seng down 0.11%, ASX up 1.21%
- Commodities : Gold at $1962.80 (-0.23%), Silver at $24.61 (-0.72%), Brent Oil at $85.25 (0.42%), WTI Oil at $81.55 (0.49%)
- Rates : US 10-year yield at 4.151, UK 10-year yield at 4.485, Germany 10-year yield at 2.555
News & Data:
- (USD) CB Consumer Confidence 106.1 vs 116.1 expected
- (USD) Unemployment Rate 8.83M vs 9,49M expected
Markets Update:
Asia-Pacific markets are following the upward trends observed on Wall Street. Notably, Nvidia-powered technology stocks led a rally in the U.S. on Tuesday.
A key point of interest for investors is Australia’s July inflation data. This data will significantly influence the Reserve Bank of Australia’s monetary policy decision on September 5th. In July, inflation rose by 4.9%, showing a milder increase compared to June’s 5.4%.
Regional market movements were noteworthy. Australia’s S&P/ASX 200 index surged 1.21%, reaching its highest point since August 15th at 7,297.7 points. Japan’s Nikkei 225 index extended its three-day gains, rising 0.38% to close at 32,333.46. The Topix index followed suit, increasing by 0.43% to finish at 2,313.38.
In South Korea, the Kospi index advanced by 0.35%, closing at 2,561.22. The Kosdaq index also performed well, ending with a rise of 0.83% at 923.81, its highest since August 1st. Hong Kong’s Hang Seng index down by 0.11%, while mainland China’s benchmark CSI 300 index gained 0.43%.
Overnight in the U.S., all major stock indexes displayed gains. The Nasdaq Composite stood out with over a 1% surge, particularly due to renewed interest in technology stocks. The Nasdaq index itself grew substantially by 1.74%, the S&P 500 index climbed 1.45% – its best performance since June 2nd, and the Dow Jones Industrial Average rose by 0.85%.
Upcoming Events:
- 12:15 PM GMT – USD ADP Non-Farm Employment Change
- 12:30 PM GMT – USD Prelim GDP q/q
- 12:30 PM GMT – USD Prelim GDP Price Index q/q
- 2:00 PM GMT – USD Pending Home Sales m/m
- 2:30 PM GMT – USD Crude Oil Inventories
