Global stock markets continue to rise ahead of FOMC meeting.
πΊπΈ S&P 500: 0.32% π
πΊπΈ Nasdaq: 0.35% π
πͺπΊ Stoxx 600: 0.11% π
π―π΅ Nikkei 225 Index: 0.81% π
ππ° Hang Seng Index: 0.54% π
π¨π³ CSI 300 Index: 1.11% π
* U.S. stocks ended higher, with the S&P 500 and Nasdaq up 0.3% and 0.4%, respectively, as markets held steady despite bets the Fed will be forced to keep interest rates high for a long time, helped by a solid earnings season. .
* Hong Kong's Hang Seng and Shanghai's CSI rose 0.5% and 1.1% respectively, as investors were buoyed by corporate earnings announcements and official moves to revive China's troubled real estate sector.
π‘ Future events: π‘
* On Tuesday, Japan will release unemployment rate and preliminary industrial production monthly rate, China manufacturing PMI, and EU CPI estimated annual rate.
* On Wednesday, we will see the release of final manufacturing PMIs for Japan and the United States.
π‘ Things you need to know today: π‘
1. The yen recovered to 160 yen from its lowest level in 34 years against the dollar on forecasts that the Japanese government will intervene to support its troubled currency for the first time since 2022.
Japanese Yen
2. People familiar with the matter said that the People's Bank of China has advised some regional banks to reduce their investment in ultra-long-term bonds to reduce risks.
3. Elon Musk's quick trip to China paid immediate dividends, with Tesla Inc getting approval in principle from government officials to deploy its driver-assist system in the world's largest car market.
Elon Musk visit to China
4. Chinese automaker BYD Co Ltd's first-quarter revenue fell short of expectations as steep price cuts across most of its product lines eroded its financial results.
BYD Auto
5. Oil prices fell the most in nearly two weeks, with Brent crude settling at $88.40 a barrel, as talk of a possible ceasefire in the Middle East reduced crude's risk premium.
β Key Points:
All eyes are on the outcome of the FOMC meeting, where Fed officials will unveil their stance on interest rates and inflation.
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Comments
Here are some news articles related to the FOMC meeting:
USD/SGD Edges Higher as Traders Shift Focus to FOMC Meeting: The USD/SGD currency pair has edged higher during the Asian session as traders shift their focus to the FOMC's two-day meeting. Currencies, including the SGD, are consolidating ahead of the meeting, and risks are slightly asymmetric in favor of a weaker USD.
Wall Street Gains Ahead of The Fed (FOMC) Meeting: Wall Street has strengthened ahead of the Federal Reserve's FOMC meeting, where decisions regarding interest rates will be made.
Major Brokerages Maintain Fed Rate-Cut View Ahead of FOMC Meeting: Major brokerages, including Goldman Sachs and Deutsche Bank, are keeping their expectations of the Fed's first rate cut unchanged ahead of the FOMC meeting.
Please note that these articles are for informational purposes only and do not constitute investment advice. It is always recommended to conduct thorough research and analysis before making any investment decisions.
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