Global Markets:
- Asian Stock Markets : Nikkei up 2.40%, Shanghai Composite up 0.38%, Hang Seng up 0.09% ASX up 1.18%
- Commodities : Gold at $4,068.29 (-0.35%), Silver at $50.905 (0.13%), Brent Oil at $63.66 (0.24%), WTI Oil at $59.42 (0.29%)
- Rates : US 10-year yield at 4.136, UK 10-year yield at 4.6010, Germany 10-year yield at 2.7103
News & Data:
- (USD) Trade Balance -59.6B to -61.3B expected
- (USD) Crude Oil Inventories -3.4M to -1.3M expected
Markets Update:
Asian markets are trading broadly higher on Thursday, lifted by strong overnight gains on Wall Street, where technology stocks rallied after upbeat earnings from Nvidia renewed confidence in the AI-driven trade. Bargain hunting also continued following recent market weakness, reversing Wednesday’s mostly lower close across Asia.
Minutes from the US Federal Reserve’s late-October policy meeting showed policymakers held “strongly differing views” on the interest rate outlook. While most members agreed rates would eventually need to be cut, several did not see another 25-basis-point reduction as likely at the December meeting. Many suggested rates may remain unchanged for the rest of the year. According to the CME FedWatch Tool, there is now a 32.8 percent chance of a December rate cut, sharply lower than nearly 94 percent a month ago.
The Australian market is sharply higher, with the S&P/ASX 200 reclaiming the 8,500 level amid gains across most sectors, led by technology. Major miners are advancing, while energy stocks lag due to weaker crude oil prices. Tech names such as Block, Xero and Zip are posting strong gains. The Aussie dollar is trading at $0.648.
Japan’s Nikkei 225 is surging more than 3 percent, snapping a four-day losing streak, boosted by exporters and tech stocks including SoftBank, Advantest and Tokyo Electron. The yen is trading in the lower 157 range.
Elsewhere, markets in South Korea, Taiwan, China and Hong Kong are higher. On Wall Street, major indexes ended modestly positive, while crude oil fell on renewed oversupply concerns.
Upcoming Events:
- 01:30 PM GMT – USD Average Hourly Earnings m/m
- 01:30 PM GMT – USD Non-Farm Employment Change
- 01:30 PM GMT – USD Unemployment Rate
