{"id":69446,"date":"2024-04-29T17:21:26","date_gmt":"2024-04-29T07:21:26","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=69446"},"modified":"2025-11-10T21:57:28","modified_gmt":"2025-11-10T10:57:28","slug":"monday-29th-april-2024-asian-markets-rally-amid-yens-strength-and-u-s-economic-indicators","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-29th-april-2024-asian-markets-rally-amid-yens-strength-and-u-s-economic-indicators\/","title":{"rendered":"Monday 29th April 2024: Asian Markets Rally Amid Yen&#8217;s Strength and U.S. Economic Indicators"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.81%, Shanghai Composite up 0.79%, Hang Seng up 0.61% ASX up 0.81%<\/li>\n\n\n\n<li>Commodities : Gold at $2341.5 (-0.25%), Silver at $27.47 (-0.16%), Brent Oil at $87.43 (-0.98%), WTI Oil at $83.01 (-1.01%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.64, UK 10-year yield at 4.34, Germany 10-year yield at 2.54<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Core PCE Price Index m\/m 0.3% vs 0.3% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>The Japanese yen strengthened against the U.S. dollar on Monday, rising to 157.02 after initially hitting 160.03 earlier in the session. The Bank of Japan&#8217;s decision to maintain interest rates unchanged coincided with a public holiday, temporarily shutting down Japan&#8217;s stock markets. Traders are closely monitoring the Federal Reserve&#8217;s upcoming meeting following a higher-than-expected U.S. inflation report on Friday.<\/p>\n\n\n\n<p>In March, core personal consumption expenditures in the U.S. surged by 2.8% year-on-year, exceeding projections, with personal spending also outperforming expectations. Attention in the Asian region is on China&#8217;s release of the official purchasing managers index for April ahead of the Labor Day holiday, alongside Japan&#8217;s industrial production and retail sales data for March.<\/p>\n\n\n\n<p>Australia&#8217;s S&amp;P\/ASX 200 rebounded, closing up by 0.81% at 7,637.40, recovering from Friday&#8217;s losses. South Korea&#8217;s Kospi concluded with a 1.17% increase, while the small-cap Kosdaq saw a gain of 1.51%. Hong Kong&#8217;s Hang Seng index climbed by 0.91%, and China&#8217;s CSI 300 index rose by 1.34%.<\/p>\n\n\n\n<p>U.S. stocks surged on Friday, with the S&amp;P 500 and Nasdaq Composite posting their strongest performance since November, driven by robust earnings from Big Tech companies. The S&amp;P 500 advanced by 1.02%, and the Nasdaq surged by 2.03%, marking its most significant gain since February. The Dow Jones Industrial Average rose by 0.4%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>11:30 PM GMT &#8211; JPY Unemployment Rate<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: The Japanese yen strengthened [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":79815,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[196,215,339],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69446"}],"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=69446"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69446\/revisions"}],"predecessor-version":[{"id":69447,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69446\/revisions\/69447"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/79815"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=69446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=69446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=69446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}