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Asia-Pacific markets higher after Powell’s inflation comments

by Euro Times
September 9, 2022
in Markets
Reading Time: 2 mins read
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Japan +0.59%.

China +0.68%. China August CPI 2.5% y/y (anticipated 2.8%), decrease than the two.7% recorded in July.

Hong Kong +2.49%.

Australia +0.65% Australia expert job ads +2.6%, near a 14 yr excessive.

India +0.58%.

In a single day within the U.S., main US inventory indices are closing larger for the 2nd consecutive day. Dow industrial common up 193.24 factors or 0.61% at 31774.51. The S&P 500 up 26.31 factors or 0.66% at 4006.19 and the NASDAQ index up 70.24 factors or 0.60% at 11862.14.

New Zealand – Card Spending for August – Retail +0.9% m/m (prior -0.2%).

Britain’s Queen Elizabeth II has died. Charles takes the throne as King Charles III.

Federal Reserve Chair Jerome Powell’s newest feedback as he vowed to lift charges to sort out inflation “till the job is finished.”

Oil costs turned down in early commerce on Friday after a slight rebound within the earlier session, leaving them set to fall for a second straight week on worries that central banks’ aggressive price hikes and China’s Covid-19 curbs will harm demand.

Brent crude futures slipped 12 cents, or 0.1%, to $89.03 a barrel at 0051 GMT, after rising 1.3% on Thursday.

U.S. West Texas Intermediate (WTI) crude futures fell 19 cents, or 0.2%, to $83.35 a barrel.

Gold costs rose on Friday helped by a dip within the greenback, however expectations of extra rate of interest hikes capped additional good points as U.S. Federal Reserve Chair Jerome Powell reiterated the central financial institution’s dedication to tame inflation.

Spot gold rose 0.4% to $1,713.62 per ounce as of 0110 GMT.

U.S. gold futures have been up 0.3% at $1,724.90.

Spot silver gained 0.5% to $18.66 per ounce, platinum rose 0.1% to $880.27 and palladium fell 0.5% to $2,127.57.

U.S. inventory futures opened little modified following a uneven session within the main averages as Wall Avenue thought of the tempo of future rate of interest hikes. U.S. futures larger. Dow Jones +0.28%; S&P 500 +0.38%; Nasdaq +0.57%.



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Tags: AsiaPacificCommentshigherInflationMarketsPowells
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