Global Markets:
- Asian Stock Markets : Nikkei up 0.03%, Shanghai Composite up 0.12%, Hang Seng down 1.06% ASX up 0.47%
- Commodities : Gold at $5,086.60 (-0.25%) Silver at $83.793 (-0.21%), Brent Oil at $69.69 (0.42%), WTI Oil at $64.94 (0.48%)
- Rates : US 10-year yield at 4.166, UK 10-year yield at 4.4780, Germany 10-year yield at 2.7960
News & Data:
- (USD) Unemployment Rate 4.3% to 4.4% expected
- (USD) Non-Farm Employment Change 130K to 66K expected
Markets Update:
Asian markets are trading mixed on Thursday after broadly negative cues from Wall Street, as stronger-than-expected U.S. job growth in January reduced hopes of near-term Federal Reserve rate cuts. Investors now await Friday’s U.S. consumer price index report for further clarity on the rate outlook. Data showed the biggest employment gain in over a year, with unemployment unexpectedly falling, highlighting labor market resilience. Traders now see a 92% chance the Fed will hold rates steady at its next meeting.
In Australia, the S&P/ASX 200 is up 0.7% above 9,080, supported by strong earnings. Mining and banking stocks are leading gains, with BHP, Rio Tinto and Fortescue sharply higher, while major banks posted solid advances. Technology stocks are weak, with Block, WiseTech, Xero and Appen declining notably. AMP, Temple & Webster and Pro Medicus plunged after disappointing results. Inflation expectations rose to 5.0%, and the Reserve Bank signaled inflation may stay above target until mid-2027. The Australian dollar trades near $0.713.
Japan’s Nikkei 225 is slightly lower near 57,600 after snapping a three-day rally. SoftBank gained, while Toyota and Honda declined. Producer prices rose 0.2% in January, matching forecasts. Elsewhere, South Korea surged 2.6%, China edged up, and Hong Kong slipped. U.S. stocks ended modestly lower, while oil climbed to $64.53 per barrel.
Upcoming Events:
- 01:30 PM GMT – USD Unemployment Claims
