Global Markets:
- Asian Stock Markets : Nikkei down -1.41%, Shanghai Composite down -0.57%, Hang Seng down -0.59% ASX up 0.48%
- Commodities : Gold at $3.407.55 (-0.02%), Silver at $38.580 (-0.06%), Brent Oil at $65.91 (0.43%), WTI Oil at $62.91 (0.42%)
- Rates : US 10-year yield at 4.236, UK 10-year yield at 4.5880, Germany 10-year yield at 2.6801
News & Data:
- (USD) Crude Oil Inventories 3.0M to -0.9M expected
Markets Update:
Asian markets traded mostly higher Thursday, buoyed by Wall Street’s gains and optimism that the US Fed will cut rates next month, with CME Group’s FedWatch Tool showing a 93.8% chance of a 25-basis-point reduction. Treasury Secretary Scott Bessent urged keeping the option open for a larger 50-point cut after weak US jobs data. President Trump continues to press Fed Chair Jerome Powell for deeper cuts.
In Australia, the S&P/ASX 200 jumped 70.70 points, or 0.80%, to 8,897.80, hitting a record high, supported by mining, energy, financials, and tech gains. Rio Tinto lagged, while Origin Energy surged nearly 5% on strong earnings. Westpac soared over 6% on upbeat quarterly results.
Japan’s Nikkei 225 fell 1.27% to 42,726.63, ending a seven-day rally, as losses in exporters and tech outweighed gains in financials. Toyota dropped 1.5%, and Tokyo Electron slid over 2%, while SoftBank rose more than 3%.
Elsewhere, New Zealand, China, Hong Kong, Malaysia, and Indonesia gained modestly, while Singapore, South Korea, and Taiwan eased.
On Wall Street, the Nasdaq and S&P 500 closed at record highs despite midday pullbacks, while the Dow rose 1%. European markets also advanced, and crude oil slipped 0.87% to $62.62 on oversupply concerns from the IEA.
Upcoming Events:
- 12:30 PM GMT – USD Core PPI m/m
- 12:30 PM GMT – USD PPI m/m
- 12:30 PM GMT – USD Unemployment Claims
