Mar 12 2024: Global stocks made slight gains on Tuesday as investors anticipated the release of U.S. inflation data, which could provide insights into the Federal Reserve’s potential interest rate adjustments. Meanwhile, the yen experienced a decline after Japanese officials tempered expectations of an immediate policy shift by the central bank. Gold remained just below record highs, while the dollar saw a slight increase as traders awaited the U.S. consumer price index later in the day. Encouraged by gains on Wall Street overnight and a rise in technology stocks in Asia, the MSCI All-World index edged up by 0.1%. Investors are…
Author: editor2
Mar 12 2024: Most Asian currencies showed limited movement on Tuesday, while the dollar stabilized as investors awaited crucial U.S. inflation data for clues about potential changes in interest rates by the Federal Reserve. The Japanese yen, in particular, performed poorly compared to its regional counterparts, sharply retreating from its over one-month high following remarks from top Bank of Japan officials, which tempered expectations of an imminent rate hike from the central bank. Yen Weakens as BOJ’s Ueda Cautions on Economic Optimism The yen depreciated approximately 0.3% against the dollar, stepping back from its recent high achieved on Monday. This reversal…
Mar 12 2024: Gold prices experienced a decline in Asian trading on Tuesday, stepping away from their all-time highs as traders opted to secure profits in anticipation of the release of key U.S. inflation data, which is expected to influence interest rate trajectories. The surge in speculation about interest rate cuts as early as June, alongside heightened demand for safe-haven assets, propelled bullion prices to unprecedented levels in March, with spot prices edging close to breaching the $2,200 per ounce mark. However, this rally moderated in recent sessions, particularly following somewhat hawkish signals from the Federal Reserve and mixed labor market…
Mar 12 2024: In Asian trading on Tuesday, Bitcoin hovered just below its all-time highs, benefiting from ongoing support stemming from consistent inflows into spot exchange-traded funds (ETFs) approved earlier this year. The world’s largest cryptocurrency surged by 5.6% to $72,156.6 as of 22:51 ET (02:51 GMT), remaining in close proximity to its peak of $72,771 reached on Monday. Bitcoin’s recent surge is an extension of the rally sparked by the approval of spot ETFs in January, which attracted significant institutional capital into the token. Additionally, Bitcoin received a boost from MicroStrategy Incorporated (NASDAQ:MSTR), the leading corporate holder of Bitcoin, purchasing…
Mar 12 2024: The CEO of Westenergie in Germany has urged policymakers to collaborate with grid operators to strengthen responses to incidents like the recent arson attack near Tesla’s gigafactory near Berlin. Katherina Reiche, Chief Executive Officer of Westenergie, emphasized the need to reassess security measures and establish a more robust legal framework during a press conference in Duesseldorf. Reiche highlighted the vulnerability of critical infrastructure, citing Westnetz’s efforts to restore power to tens of thousands of households in western Germany after the 2021 floods. She stressed the importance of rethinking strategies against deliberate and targeted human actions, referring to the…
Mar 11 2024: Masakazu Tokura, the chairman of Japan’s Keidanren business lobby, indicated on Monday a growing momentum for wage increases during this year’s spring labor negotiations compared to the previous year. Tokura stated that the prospect of reaching an inflation target of approximately 2% is increasing. Moreover, he expressed a strong belief that the Bank of Japan (BOJ) might undertake a normalization of its monetary policy in the near future.
Mar 11 2024: Most Asian currencies traded within narrow ranges on Monday, while the dollar remained near two-month lows as markets awaited crucial U.S. inflation figures for insights into potential Federal Reserve interest rate adjustments. Following somewhat dovish signals from Fed Chair Jerome Powell and mixed labor market data, regional currencies saw some strength last week, reinforcing expectations of possible rate cuts by the central bank as early as June. This sentiment weighed heavily on the dollar, keeping it close to its recent two-month lows. The Japanese yen, benefiting notably from the weakened dollar, surged to over a one-month high in…
Mar 11 2024: Gold prices maintained stability, lingering just under the $2,200 threshold during Asian trading on Monday. Investors awaited forthcoming U.S. inflation data to glean insights into potential adjustments by the Federal Reserve regarding interest rates. Anticipated rate cuts fueled significant increases in bullion prices last week, particularly following remarks from Fed Chair Jerome Powell suggesting that inflation was nearing levels acceptable to the central bank. Additionally, moderate labor market data and weaknesses in both the dollar and Treasury yields provided support for gold prices. Spot gold edged up by 0.1% to reach $2,180.47 per ounce, while April gold futures…
Mar 11 2024: Australian stocks concluded Monday’s trading session with losses, driven by declines in the Metals & Mining, Resources, and Materials sectors. At the close in Sydney, the S&P/ASX 200 index fell by 1.82%. Among the top performers on the S&P/ASX 200 were Appen Ltd (ASX:APX), which surged by 7.95% or 0.06 points to trade at 0.81 at the close. Meanwhile, EML Payments Ltd (ASX:EML) rose by 4.02% or 0.04 points, ending at 1.03, and Iress Ltd (ASX:IRE) gained 3.42% or 0.29 points, closing at 8.78 in late trading. However, the session’s worst performers included St Barbara Ltd (ASX:SBM), which…
Mar 11 2024: Japanese stocks ended the trading session on Monday with losses, driven by declines in the Railway & Bus, Services, and Rubber sectors. At the close of trading in Tokyo, the Nikkei 225 index fell by 2.11%. Among the top performers on the Nikkei 225 were Dai Nippon Printing Co., Ltd. (TYO:7912), which surged by 5.79% or 249.00 points to reach 4,550.00 by the close. Meanwhile, Teijin Ltd. (TYO:3401) rose by 3.87% or 51.00 points, closing at 1,367.50, and Sumitomo Dainippon Pharma Co Ltd (TYO:4506) gained 2.79% or 10.00 points to finish at 369.00 in late trading. However, the…
