Global Markets:
- Asian Stock Markets : Nikkei up 0.81%, Shanghai Composite up 0.79%, Hang Seng up 0.61% ASX up 0.81%
- Commodities : Gold at $2341.5 (-0.25%), Silver at $27.47 (-0.16%), Brent Oil at $87.43 (-0.98%), WTI Oil at $83.01 (-1.01%)
- Rates : US 10-year yield at 4.64, UK 10-year yield at 4.34, Germany 10-year yield at 2.54
News & Data:
- (USD) Core PCE Price Index m/m 0.3% vs 0.3% expected
Markets Update:
The Japanese yen strengthened against the U.S. dollar on Monday, rising to 157.02 after initially hitting 160.03 earlier in the session. The Bank of Japan’s decision to maintain interest rates unchanged coincided with a public holiday, temporarily shutting down Japan’s stock markets. Traders are closely monitoring the Federal Reserve’s upcoming meeting following a higher-than-expected U.S. inflation report on Friday.
In March, core personal consumption expenditures in the U.S. surged by 2.8% year-on-year, exceeding projections, with personal spending also outperforming expectations. Attention in the Asian region is on China’s release of the official purchasing managers index for April ahead of the Labor Day holiday, alongside Japan’s industrial production and retail sales data for March.
Australia’s S&P/ASX 200 rebounded, closing up by 0.81% at 7,637.40, recovering from Friday’s losses. South Korea’s Kospi concluded with a 1.17% increase, while the small-cap Kosdaq saw a gain of 1.51%. Hong Kong’s Hang Seng index climbed by 0.91%, and China’s CSI 300 index rose by 1.34%.
U.S. stocks surged on Friday, with the S&P 500 and Nasdaq Composite posting their strongest performance since November, driven by robust earnings from Big Tech companies. The S&P 500 advanced by 1.02%, and the Nasdaq surged by 2.03%, marking its most significant gain since February. The Dow Jones Industrial Average rose by 0.4%.
Upcoming Events:
- 11:30 PM GMT – JPY Unemployment Rate
