Global Markets:
- Asian Stock Markets : Nikkei down -1.41%, Shanghai Composite up 0.08%, Hang Seng down -0.23% ASX down -0.01%
- Commodities : Gold at $4,237.80 (-0.12%), Silver at $57.968 (0.82%), Brent Oil at $63.13 (-0.21%), WTI Oil at $59.50 (-0.28%)
- Rates : US 10-year yield at 4.095, UK 10-year yield at 4.4370, Germany 10-year yield at 2.7706
News & Data:
- (USD) Unemployment Claims 191K to 219K expected
Markets Update:
Asian markets traded mostly lower on Friday, mirroring the mixed performance on Wall Street and reflecting caution ahead of upcoming interest rate decisions by the US Federal Reserve and the Bank of Japan. Investors are also awaiting key US inflation figures and the September income and spending report for further policy signals. Despite this, expectations remain high for another quarter-point rate cut by the Fed, even as weekly jobless claims unexpectedly fell to a three-year low.
In Australia, stocks traded slightly higher, extending recent gains, with the S&P/ASX 200 hovering above the 8,600 mark. Gains in miners, financials and tech stocks supported sentiment. Mineral Resources rose strongly, while BHP and Fortescue posted modest advances, although Rio Tinto declined. Tech stocks were mostly positive, led by Block, Zip and Appen. Banks saw mild gains, and gold miners remained firm.
Notable corporate moves included NextDC jumping after confirming an MoU with OpenAI, while Premier Investments plunged following news of a share buyback plan. The Australian dollar traded near $0.661.
Japan’s Nikkei traded sharply lower, dragged down by exporters, tech firms and automakers after recent gains. Major names including Toyota, Sony and Canon fell, along with semiconductor stocks. Some individual names, however, like Sharp and Ibiden, saw gains. Elsewhere in Asia, markets were mixed across the region.
US stocks finished largely unchanged, while European markets ended higher. Crude oil also advanced.
Upcoming Events:
- 01:30 PM GMT – CAD Employment Change
- 01:30 PM GMT – CAD Unemployment Rate
- 03:00 PM GMT – USD Core PCE Price Index m/m
- 03:00 PM GMT – USD Prelim UoM Consumer Sentiment
- 03:00 PM GMT – USD Prelim UoM Inflation Expectations
