Global Markets:
- Asian Stock Markets : Nikkei up 1.11%, Shanghai Composite up 0.49%, Hang Seng up 0.31% ASX up 0.06%
- Commodities : Gold at $4,179.70 (-0.53%), Silver at $52.620 (-0.56%), Brent Oil at $62.17 (-0.59%), WTI Oil at $58.32(-0.56%)
- Rates : US 10-year yield at 3.994, UK 10-year yield at 4.4240, Germany 10-year yield at 2.6741
News & Data:
- (USD) Unemployment Claims 216K to 226K expected
- (USD) Core Durable Goods Orders m/m 0.6% to 0.2% expected
- (USD) Durable Goods Orders m/m 0.5% to 0.5% expected
Markets Update:
Asian stock markets traded mostly higher on Thursday, supported by strong cues from Wall Street and rising optimism about U.S. interest rate cuts. Recent dovish remarks from top Federal Reserve officials, including John Williams, Christopher Waller and Mary Daly, have strengthened expectations that the Fed will move ahead with another rate cut. According to CME Group’s FedWatch Tool, traders now see an 84.7% probability of a 25-basis-point cut at the Fed’s December 9–10 meeting, sharply higher than the 30% likelihood a week earlier. Sentiment also improved on reports that Kevin Hassett, known for favoring lower interest rates and aligned with President Donald Trump’s economic views, may be a contender for the next Fed Chair role.
Australian shares edged higher, with the S&P/ASX 200 holding above 8,600 amid gains in technology, financials and gold miners. Tech names like Block, Zip and WiseTech advanced strongly, while gold miners also posted solid gains. Mining majors were mixed, and oil stocks mostly declined.
Japan’s Nikkei 225 surged above 50,200, driven by strength in technology and financial stocks. Market heavyweight SoftBank jumped, while chip-related stocks such as Advantest and Tokyo Electron posted strong gains.
Elsewhere in Asia, South Korea, China, Hong Kong, Singapore and Taiwan traded higher, while New Zealand, Malaysia and Indonesia slipped. Overnight, U.S. and European markets also closed firmly in positive territory, with Wall Street extending its multi-session rally.
Upcoming Events:
- 01:30 PM GMT – CAD Current Account
