Global Markets:
- Asian Stock Markets : Nikkei down 0.12%, Shanghai Composite down 0.12%, Hang Seng down 1.47% ASX up 0.65%
- Commodities : Gold at $3380.35 (0.09%), Silver at $38.18 (-0.09%), Brent Oil at $71.19 (-0.19%), WTI Oil at $69.08 (0.13%)
- Rates : US 10-year yield at 4.322, UK 10-year yield at 4.6170, Germany 10-year yield at 2.6790
News & Data:
- (USD) JOLTS Job Openings 7.44M to 7.55M expected
- (USD) CB Consumer Confidence 97.2 to 95.9 expected
Markets Update:
Asian markets traded mixed on Wednesday, echoing Wall Street’s overnight losses as investors remained cautious ahead of the U.S. Federal Reserve’s policy decision and the looming August 1 tariff deadline set by President Trump. While interest rates are expected to remain unchanged, traders await clues on the Fed’s future stance.
Trade optimism has softened, with investors awaiting finalized agreements. So far, the U.S. has struck deals with the EU, UK, Japan, Philippines, and Indonesia. Talks continue with China, Canada, India, and South Korea.
Australia’s ASX 200 rose 0.68% to 8,763.50, driven by mining and banking stocks. Mineral Resources gained nearly 4%, while Commonwealth Bank and Westpac climbed over 1%. Tech stocks fell, with Appen plunging 12% on weak results. Meanwhile, IGO dropped 7% due to lithium production issues.
In Japan, the Nikkei edged up 0.02% to 40,682.14 amid choppy trading. Gains in exporters like Canon offset losses in automakers and tech stocks. Sumitomo Pharma soared nearly 13%.
Elsewhere, New Zealand, China, South Korea, and Taiwan edged higher, while Hong Kong and Southeast Asian markets slipped.
On Wall Street, the Dow fell 0.5%, Nasdaq lost 0.4%, and S&P 500 dipped 0.3%. In Europe, major indexes rose, with Germany’s DAX gaining 1%.
Oil surged over 4% as geopolitical tensions escalated, with WTI crude hitting $69.52 per barrel.
Upcoming Events:
- 12:15 PM GMT – USD ADP Non-Farm Employment Change
- 12:30 PM GMT – USD Advance GDP q/q
- 01:45 PM GMT – CAD Overnight Rate
- 02:30 PM GMT – CAD BOC Press Conference
- 06:00 PM GMT – USD Federal Funds Rate
- 06:30 PM GMT – USD FOMC Press Conference
