13 June 2024
The Trade Academy Team
07:30 CET - 3 min read
Thursday Morning Coffee - Markets Update - 13 June 2024 - APAC Stocks Rise, Bond Yields Dip as Investors Weigh Easing Inflation, Fed Policy
Markets Update: Asia-Pacific stocks rose on Thursday, led by Taiwan and Hong Kong, following a positive US CPI report but with caution ahead of the Bank of Japan's policy meeting and mixed signals from the Fed.
by TradingView
Global Markets Roundup: 13 June 2024
London - Asia-Pacific equities rose on Thursday, with regional markets excluding Japan gaining 0.9% on the MSCI index. Taiwan and Hong Kong HSI led the advance, buoyed by record highs on the S&P 500 and Nasdaq NQ1! overnight. U.S. futures pointed towards further gains.
Japan's Nikkei NI225 edged up slightly after an initial rally fizzled. The Bank of Japan's two-day policy meeting, which began today, is keeping investors cautious. Reports suggest the BOJ might consider reducing bond purchases, potentially weakening the yen. The positive sentiment stemmed from Wednesday's U.S. CPI report, which showed core inflation at its slowest pace in over three years. This triggered a rally on Wall Street, with the dollar and Treasury yields initially falling. However, Fed comments suggesting a more cautious approach on rate cuts led to some volatility.
The U.S. 10-year Treasury yield remained steady at 4.31%, reflecting the market's mixed reaction to the Fed's stance. Japanese government bond yields also dipped.
In currencies, The yen USDJPY weakened slightly against the dollar, erasing some of Wednesday's gains. The euro and dollar index DXY saw minor movements. The EURUSD traded higher at $1.0808. GBPUSD climbed 0.5% to $1.2798. The AUDUSD was trading at $0.6647, while the NZDUSD hovered around $0.6170, after it climbed to a five-month high above $0.62.
In commodities, GOLD prices retreated modestly, while crude oil CL1! prices edged lower following a rise in U.S. stockpiles. Three-month copper on LME HG1! lost 1.1% to $9,834 per metric ton.
In soft commodities, Corn ZC1! climbed 0.3% to $4.55-3/4 a bushel and soybeans ZS1! lost 0.2% to trade at $11.74-1/4 a bushel. The most-active wheat contract on the CBOT ZW1! traded 0.3% higher at $6.18-3/4 a bushel. September London cocoa C2! jumped 6.5%, higher at 7,925 pounds per metric ton, due to worse than expected crops out of Ghana, the world's second largest cocoa producer. September arabica coffee KC2! climbed 1.5% to $2.2485 per lb. August white sugar SF1! edged 1.5% to $554.80 a ton.
Looking ahead today, markets anticipate, Germany Wholesale Prices, EU Industrial Production, Brazil Retail Sales, US Initial Jobless Claims, US PPI, Russia Balance of Trade.
You can view all markets data and charts here.
General news - Information source from multiple newswires.
The article and the data is for general information use only, not advice!
The Trade Academy Team
Rating: Mixed Outlook
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