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Indexes from the Asia-Pacific region traded lower during today’s session. Nikkei declined by 1.0%, S&P/ASX 200 fell 0.9% and Kospi is down by 0.7%. Chinese indexes droppe more than 2%.
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Asian stocks, including Japan, Australia, South Korea, and Hong Kong, declined after FOMC minute publication and hawkish signals from the Federal Reserve
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European futures contracts for indexes also indicate a lower opening of the cash session on the Old Continent with German DAX trading 0.4% lower.
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S&P 500 and Nasdaq 100 futures decreased as investors awaited US jobs data to gain insight into interest rate trends
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Australian and New Zealand 10-year government bond yields reached their highest levels in 2023, following gains in the US.
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Australian exports rose in May, exceeding expectations and resulting in a trade balance of $11.8 billion
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A poll conducted by Reuters indicates that 23 out of 25 economists forecast the RBA to raise the cash rate to 4.35% in August, with two predicting a pause
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The minutes of the Federal Reserve's monetary policy meeting in June revealed that officials plan to continue increasing interest rates after taking a break in the previous month
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Fed's Williams fully supported the decision to hold rates steady in June and expects it to take a year or two to experience the full impact of monetary policy. He acknowledged progress on inflation but noted persisting high price pressures
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The US Commerce Department firmly opposes China's export controls on Gallium and Germanium and intends to collaborate with allies and partners to address these controls
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Oil is trading 0.1% lower after yesterday’s gains
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Precious metals CFDs trade slightly higher. Gold and silver trade 0.2% higher while platinum gains 0.1% and palladium drops 0.3%
Chinese Hang Seng Index (HKComp) continued its underperformance for the second consecutive day, experiencing substantial declines. The index is approaching its yearly low, nearing the 18,067 points mark
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