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Most Asian markets rise as traders await key US data
Investors await US ADP jobs report and core inflation data as markets price a 90% chance of a Fed rate cut on Dec 10, with Asian equities mostly gaining.
- On Wednesday, Asian markets mostly rose following a Wall Street rally, with gains muted as investors awaited the last tranche of US data before next week's Federal Reserve meeting.
- Traders are positioning ahead of the ADP jobs read due later Wednesday, while money markets put chances of a December 10 cut near 90 percent and await Friday's PCE index.
- At the market level, the Nikkei 225 rose 1.1 percent to 49,862.94 while Bitcoin climbed above $90,000; Brent North Sea Crude and West Texas Intermediate traded near $62.33 and $58.53 per barrel.
- Analysts cautioned that surprises in the data could shift Fed expectations as any deviation in U.S. labour market and inflation data may alter Federal Reserve policy, Andrew Brenner warned of a `hawkish cut`.
- Reports said Kevin Hassett is a top economic adviser, and market signals reflect expectations of easing ahead of Friday's US data, including the PCE index.
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Most Asian markets rise as traders await key US data
Markets mostly rose Wednesday, following a resumption of Wall Street's rally, but gains were muted as investors await the last tranche of US data before next week's Federal Reserve meeting.
·Missoula, United States
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Mixed stock exchanges with investors waiting for key employment data in the US and speech by the President of the ECB. Photo: taken from Freepik Asia-Pacific Stock Exchanges Asian stock markets showed mixed results on Wednesday, with Japan and South Korea leading the profits while other regional markets remained moderate, as investors weighed the rising expectations of a cut in US Federal Reserve rates next week. In Asia, Tokyo’s main stock exch…
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Total News Sources67
Leaning Left7Leaning Right11Center13Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 23%
C 42%
R 35%
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