-
Asian markets, US, and European futures rose in anticipation that the Federal Reserve will pause its aggressive tightening measures.
-
Indices from Asia-Pacific traded mostly higher today. Nikkei gained 1.2% while Kospi traded 0.66% higher. Indices from China traded up to 0.6% higher
-
The Japanese Nikkei 250 index broke above resistance levels and closed near 33,000 points.
-
The offshore yuan and Chinese bond yields fell after the People's Bank of China (PBoC) reduced its short-term policy interest rate to support the economy.
-
The PBoC cut the seven-day reverse repurchase rate by 10 basis points to 1.90% and injected 2 billion yuan into the short-term bond instrument.
-
US futures climbed slightly after the Nasdaq100 and SP500 reached their highest levels since April 2022, with a focus on Asian technology companies.
-
US500 futures trade 0.14% higher today at 4351 points.
-
At yesterday's close, stocks made slight gains on Wall Street as traders anticipated major interest rate decisions from central banks. The S&P 500 extended its bull-market run as investors speculated on a pause in rate hikes by the Federal Reserve.
-
The 2-year US Treasury yield, which is sensitive to central bank actions, consolidates at the peak around 4.55%.
-
The FED Committee is expected to maintain interest rates in the 5%-5.25% range, assuming moderate inflationary pressure based on the consumer price index data released Today.
-
However, the possibility of a rate hike in July has increased according to swaps pricing.
-
Tesla continued its 12-day streak of gains due to its electric-car chargers becoming an industry standard.
-
Energy commodities trade mixed - Oil inches 0.1% while US natural gas prices gain 0.5%
-
Cryptocurrencies consolidate at the bottom or last week drops as investors await CPI data and FOMC decision. Ethereum is trading around $1745 and BTC $26000.
Bitcoin is currently consolidating within a range of 25,300 to 26,000. The key support level is at 25,300, which has shown significant reactions in the past few months. If the bullish momentum fails to sustain this level, a potential further decline may be expected, D1 interval, source xStation 5.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThe content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.