All articles tagged with #us rates
Asian stock markets gained support as expectations of lower US interest rates increased, boosting investor confidence despite concerns over US economic data and credibility issues. US futures and European markets also rebounded, with a focus on potential rate cuts by the Federal Reserve amid a weak jobs report and political tensions. The dollar weakened slightly, and oil prices declined due to increased OPEC+ output.
Gold reached a record high as expectations of US monetary easing and geopolitical risks drove momentum-driven fund activity, with spot gold rising to $2,130.79 per troy ounce. Strong physical demand in Asia, central bank purchases, and gold's safe-haven status also supported its rise. Analysts predict further upside potential, with some expecting gold to hit $2,300 this year. Meanwhile, silver has also rallied, while platinum and palladium have seen declines.
Asian stocks hit nine-month lows as concerns over China's economic recovery and potential interest rate hikes by the Federal Reserve rattled investors. MSCI's broadest index of Asia-Pacific shares outside Japan slid to its lowest level since November, down about 8% for August. European stocks are also expected to open lower. China's sluggish post-pandemic recovery and the deepening property sector crisis have added to the negative sentiment. Meanwhile, the dollar reached a two-month peak, while gold and oil prices dropped. The uncertainty surrounding interest rates has lifted Treasury yields, with the benchmark 10-year yield reaching its highest level since October.
Asian shares rose as Singapore paused its policy tightening and the US Federal Reserve was seen nearing a pause after a soft producer price report. The Monetary Authority of Singapore (MAS) joined central banks in Canada, Australia and India in putting hikes on hold. The euro led the currency pack as the European Central Bank stays stubbornly hawkish. Investors are now bracing for earnings from Citigroup, Wells Fargo and JPMorgan Chase & Co which could test the bullish mood given recent stress in the sector.