Global Markets:
- Asian Stock Markets : Nikkei up 2.20%, Shanghai Composite down 0.07%, Hang Seng up 0.17%, ASX up 1.10%
- Commodities : Gold at $1918.40 (-0.28%), Silver at $22.70 (-0.78%), Brent Oil at $72.83 (+0.44%), WTI Oil at $68.03 (+0.49%)
- Rates : US 10-year yield at 3.767, UK 10-year yield at 4.436, Germany 10-year yield at 2.367
News & Data:
- (AUD) CPI y/y 5.60% vs 6.10% expected
Markets Update:
Asian stock markets traded mostly higher on Wednesday, taking cues from positive global markets and upbeat US economic data. The unexpected surge in new orders for US manufactured durable goods in May, along with sharp increases in new home sales and US consumer confidence in May and June respectively, had a significant impact on market sentiment.
In Australia, the S&P/ASX 200 climbed 1.10% to close at 7,196.5, experiencing its largest one-day gain since April 11. The country’s inflation rate for May was lower than expected, coming in at 5.6%, compared to the predicted 6.1% and the previous month’s 6.8%.
In Japan, the Nikkei 225 rebounded more than 2%, crossing the 33,000 mark and closing at 33,193.99, while the Topix also surged almost 2%, reaching 2,298.6. However, South Korea’s Kospi and Kosdaq indexes recorded their second straight day of losses, ending down 0.67% and 0.82% respectively.
Overnight in the US, all three major indexes posted gains, with the Dow Jones Industrial Average breaking its seven-day losing streak and rising by 0.63%. The Nasdaq Composite surged 1.65% as investors returned to tech stocks, and the S&P 500 advanced 1.15%.
Upcoming Events:
| Time | Currency | Event |
| 1:30pm | EUR | ECB President Lagarde Speaks |
| GBP | BOE Gov Bailey Speaks | |
| JPY | BOJ Gov Ueda Speaks | |
| USD | Fed Chair Powell Speaks | |
| 3:00pm | EUR | ECB President Lagarde Speaks |
