{"id":69070,"date":"2024-04-11T16:52:54","date_gmt":"2024-04-11T06:52:54","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=69070"},"modified":"2024-04-11T16:52:55","modified_gmt":"2024-04-11T06:52:55","slug":"thursday-11th-april-2024-asian-markets-react-to-u-s-inflation-surge-and-political-shifts","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/thursday-11th-april-2024-asian-markets-react-to-u-s-inflation-surge-and-political-shifts\/","title":{"rendered":"Thursday 11th April 2024: Asian Markets React to U.S. Inflation Surge and Political Shifts"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.36%, Shanghai Composite up 0.15%, Hang Seng down 0.27% ASX down 0.44%<\/li>\n\n\n\n<li>Commodities : Gold at $2353.5 (0.16%), Silver at $29.97 (-0.32%), Brent Oil at $90.43 (-0.08%), WTI Oil at $86.17 (-0.08%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.55, UK 10-year yield at 4.04, Germany 10-year yield at 2.46<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Core CPI m\/m 0.4% vs 0.3% expected<\/li>\n\n\n\n<li>(USD) CPI m\/m 0.4% vs 0.3% expected<\/li>\n\n\n\n<li>(CAD) Overnight Rate 5.0% vs 5.0% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets reacted negatively to higher-than-expected U.S. inflation data for March, raising concerns about prolonged Federal Reserve interest rate policies. The U.S. Consumer Price Index rose by 3.5% year-on-year and 0.4% month-on-month, surpassing economist forecasts. Excluding volatile food and energy prices, the core CPI also exceeded expectations, climbing 0.4% monthly and 3.8% annually. In China, consumer inflation eased to 0.1% in March, diverging from expectations, while the producer price index aligned with forecasts, recording a 2.8% year-on-year decline.<\/p>\n\n\n\n<p>South Korean markets saw the Kospi index recover from earlier losses, gaining 0.15%, while the Kosdaq index remained slightly below par. In South Korea&#8217;s parliamentary election, liberal opposition parties secured a significant victory, potentially impeding the legislative agenda of the incumbent conservative party. Japan&#8217;s Nikkei 225 index fell by 0.35%, but the broader Topix index rebounded with a 0.15% gain. Australia&#8217;s S&amp;P\/ASX 200 index slid by 0.44%, ending a three-day winning streak.<\/p>\n\n\n\n<p>In the U.S., all three major indexes experienced significant declines as the 10-year Treasury yield surged. The Dow Jones Industrial Average led losses, plummeting by 1.09%. The S&amp;P 500 dropped by 0.95%, with ten of its eleven sectors closing in the red, while the Nasdaq Composite sank by 0.84%. The 10-year Treasury note yield surpassed 4.5%, and the 2-year Treasury yield surged close to 5%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:15 PM GMT &#8211; EUR Main Refinancing Rate<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n\n\n\n<li>12:45 PM GMT &#8211; EUR ECB Press Conference<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets reacted negatively [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69070"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=69070"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69070\/revisions"}],"predecessor-version":[{"id":69071,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69070\/revisions\/69071"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=69070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=69070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=69070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}