Google Makes a Discount for Traders
When is Google's stock split? Alphabet, the parent company of Google, will make the 1:20 split on July 15…
Asian equities are mixed ahead of US inflation data
On Wednesday, Asian equities showed mixed performance because market participants were quite anxious ahead of American inflation data, which could either relieve or rekindle concerns of faster rate lifts worldwide.
The evergreen buck managed to break the previous year’s minimum, demonstrating a 15-month dive to 107.01. The greenback’s move put pressure on Japan's Nikkei that headed south 1.4% testing four-month minimums. As dealers told, market participants closely watched the 200-day moving average, holding over 21,031 because a potential break would be a signal for bears. By the way, the Nikkei last slumped 0.4% being worth 21,154.17.
As for other Asian markets, they turned to be steady enough. For instance, MSCI's index of Asia-Pacific equities managed to grow 0.8%, underpinned by Hong Kong as well as South Korean indices.
Market participants are waiting for the American consumer price report for January.
US headline consumer price inflation is supposed to step down to an annual 1.9%, while core inflation is expected to dive to 1.7% - the given outcome could potentially assist in calming nerves.
Meanwhile, the evergreen buck was pressured once again. On a basket of currencies the major American currency went down 0.2% hitting 89.5.
The common currency strengthened to $1.2378, rebounded from the previous week's dive to $1.2204. It was underpinned by hopes that on Wednesday German GDP data would demonstrate substantial surge.
Market experts told that traders were getting nervous as for the prospect of swelling American budget as well as trade deficits especially considering the passage of enormous tax cuts and also spending plans.
The sag in the evergreen buck underpinned commodities. Copper holds gains, having ascended 2.7% overnight.
Meanwhile, gold futures added 0.3% being worth $1,333.78 a troy ounce, drifting away from the previous week's one-month minimum of $1,306.81.
Similar
What will move the market on October 18-22?
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
What to expect from Microsoft event?
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
Latest news
Nonfarm Payrolls is in Focus Today
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
No More US Debts in Sight
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
Gold Rises as Central Banks Buy More
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
