Martes Jul 9 2024 09:17
4 min
Japan's Nikkei index reached a record high on Tuesday, gaining 2% to 41,580.17, while investors elsewhere awaited Federal Reserve Chair Jerome Powell's stance on potential rate cuts following signs of a cooling U.S. labor market.
European markets showed mixed activity, with EUROSTOXX 50 futures down 0.2% and the FTSE 100 index trading flat. Meanwhile, S&P 500 futures gained 0.2%, and Nasdaq futures rose 0.3%, after Wall Street equities edged higher to close at record peaks on Monday.
The Nikkei index surged 2.3% to a record high, bolstered by semiconductor shares, while MSCI's broadest index of Asia-Pacific shares outside Japan increased 0.4%, just below a two-year peak reached the previous day.
Taiwanese shares hit a record high before running into profit-taking, ending down 0.1%. China's blue-chip index climbed 1.1%, and Hong Kong's Hang Seng index rose 0.5%.
The Nikkei index has risen by over 24% this year. In contrast, the leading U.S. benchmarks, the S&P 500 and the Dow Jones Industrial Average (DJIA), have gained 16.84% and 4.39%.
I-calculate ang iyong hypothetical P/L (aggregated cost at charges) kung ikaw ay nag-open ng trade ngayong araw.
Market
Instrument
Account Type
Direksyon
Dami
Ang halaga ay dapat katumbas o mas mataas sa
Ang halaga ay dapat mas mababa sa
Ang halaga ay dapat multiple ng minimum lots increment
USD
EUR
GBP
CAD
AUD
CHF
ZAR
MXN
JPY
Value
Komisyon
Spread
Leverage
Conversion Fee
Required Margin
Ang pagdamagang Palitan
Ang nakalipas na pagsasagawa ay hindi maaasahang tagapaghiwatig ng mga paparating ng mga resulta
Ang lahat ng mga position ng mga instrumenton ng denominasyon sa isang salapi na iba sa pananalapi ng iyong account, ay sasailalim din sa bayad sa conversion sa paglabas ng posisyon.
Powell is set to appear before Congress on Tuesday and Wednesday. Investors, noting the recent soft labor market data, have raised the likelihood of an interest rate cut in September to about 75%, as per the CME FedWatch tool.
Shane Oliver, chief economist at financial services firm AMP in Sydney, told Reuters:
"I think markets got a degree of optimism that Powell will be cautiously dovish and that the CPI later this week will confirm that disinflation is back on track. Which I think seems reasonable to me. When you look at the U.S. economy, most of the data is softening. Jobs figures on Friday were on the soft side, unemployment trending higher. Most labour market leading indicators are cooling down.”
The key economic event this week is the U.S. consumer price report on Thursday. Headline inflation for June is expected to slow to 3.1% from 3.3% in May, with core inflation forecast to remain steady at 3.4%.
For the rest of 2024, markets have fully priced in 50 basis points of easing, equivalent to two interest rate cuts, as per Reuters.
In foreign exchange markets, the euro held steady at $1.0825 after Monday's sharp swings, as investors adjusted to a hung parliament in France, which suggests potential political gridlock but eases fiscal concerns from far-right or leftist victories.
The U.S. dollar index (DXY) steadied near four-week lows at 105.01 against a basket of currencies, offering some respite to the battered Japanese yen and Chinese yuan.
The Japanese yen held at 160.95 per dollar, after hitting a 38-year low of 161.96 per dollar last week, while the offshore Chinese yuan hovered at 7.2897 per dollar, after gaining for four straight sessions to move away from 7-and-a-half month lows.
U.S. Treasuries remained steady. The 10-year government bond yield held at 4.2841%, having declined for four consecutive sessions, while the 2-year yield was flat at 4.6285%, nearing a three-month low.
Risk Warning and Disclaimer: This article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform. Trading Contracts for Difference (CFDs) involves high leverage and significant risks. Before making any trading decisions, we recommend consulting a professional financial advisor to assess your financial situation and risk tolerance. Any trading decisions based on this article are at your own risk.
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