Asian stock markets soared
reportedMehr Correspondent, the Federal Reserve is expected to provide clues on the prospect of US interest rate cuts in a meeting on Thursday, which has led to the growth of the markets. The broadest index of Asia-Pacific shares, MSCI, hit its highest price in a week before giving up some of its gains to trade 0.23 percent higher. It arrived last month.
US stock futures rose similarly, with S&P 500 futures up 0.02% and futures near increased by 0.12 percent. EUROSTOXX 50 futures rose 0.1 percent, while FTSE futures fell 0.32 percent.
Federal Reserve policymakers in recent days have hinted at a possible interest rate cut in September, leaving markets to hear a similar tone from Jerome Federal Reserve Chairman Powell and other speakers at the annual meeting of global central bankers and other policymakers in Jackson Hole, Wyoming.
Economists are likely to confirm the path of the US economy’s inflation reduction in this meeting, the interest rate reduction will happen in September, and the markets are likely to the extent that Powell opened the door for the possibility of a 50-point reduction. From the next three meetings, they will change.
In Asia, Japan’s Nikkei hit its strongest level in more than two weeks and recently traded 1.9 percent higher, but China’s Baluchi index fell 0.7 percent. . Hong Kong’s Hang Seng Index also decreased by 0.36%. China’s benchmark lending rates were unchanged on Tuesday, prompting market reactions.
Expectations for the Fed’s next move this week pushed the dollar to a seven-month low against the euro. The euro was at $1.108775 on Tuesday. The pound was near one-month highs and was last bought at $1.2978. The dollar index last rose slightly to 101.94, its lowest since early January at 101.76.
The dollar rose 0.27 percent to 146.99 against the yen, with traders also looking to Kazuo Oeda, Bank of Japan governor in parliament on Friday, where the central bank’s decision to raise interest rates last month is expected to be debated. They look.
The market turmoil after Shinichi Uchida , the deputy governor of the Bank of Japan earlier this month downplayed the possibility of further interest rate hikes in the short term. As markets calm, Ueda may change course and return to talking about normalizing interest rates.
