قالب وردپرس درنا توس
Home / Business / China's inflation data, The Fed, currencies in focus

China's inflation data, The Fed, currencies in focus



Shares in Asia were mixed in Wednesday morning trading as investors are waiting for comments from US Federal Reserve mayor Jerome Powell for possible clues on the central bank's next move on interest rates.

In Japan, Nikkei closed 225 0.17% early trading, while Topix dropped 0.55%.

South Korea's Kospi, on the other hand, advanced 0.59% as the shares of chipmaker SK Hynix increased more than 3%.

In Australia, S & P / ASX 200 achieved 0.56% as most sectors traded higher.

Investors will keep an eye on the release of Chinese inflation data, which is out at 9:30 pm on Wednesday.

Asia-Pacific Market Indexes Chart

Accommodation on Wall Street, the Dow Jones Industrial Average dipped 22.65 points to close at 26,783.49. Nasdaq Composite and S & P 500, on the other hand, ended their trading day with higher. Nasdaq adds 0.5% to 8.1

41,73, while S & P 500 is advanced 0.1% to 2,979.63.

Investors will keep an eye on the clues about the Fed will cut prices at its upcoming cash meeting. Fed Chair Powell is scheduled to testify in front of the House Financial Services Committee on Wednesday. This comes just after a stronger than expected job report has raised questions about the central bank's next move on the interest rate.

"We expect Powell to repeat both Fed's belief that the case of more inviting monetary policy has strengthened and its commitment to ensuring the US economic expansion does not fall," wrote Joseph Capurso, senior currency strategist at the Commonwealth Bank of Australia. In a note

On the trade front between the United States and China, high-level trade negotiations arose between Beijing and Washington earlier this week, according to a US official who said both parties will continue these talks as appropriate.

Currency and Oil

The US Dollar Index, which tracks the dollar against a basket of its peers, was 97,538 after rising from below 97.2 earlier in the week.

The Japanese yen traded at 108.94 against the dollar after seeing levels below 108.5 earlier in the week, while the Australian dollar changed to $ 0.6926 after moving from levels above $ 0.695 yesterday.

Oil prices had strong gains in the morning in Asian trading hours. International benchmark Brent crude futures gave 1.01% to $ 64.81 a barrel, while US crude futures jumped 1.45% to $ 58.67 a barrel.

– CNBC's Fred Imbert contributed to this report.


Source link