The Nikkei 225 increased by 3.12% to close at 28,884.13, leading to a significant recovery from the previous week’s drop of more than 3%. Nikkei 225 gains +3.15%, SSE Composite Index gains +0.80%, Hang Seng Index dips -0.63%, Kospi gains +0.71%, ASX 200 gains +1.48%. The Japanese markets contributed to the overall improvement in share prices in Asia-Pacific region.The … [Read more...] about Japan’s Nikkei 225 Gains over 3% as Asia-Pacific Shares Recovers
Forex News
Fed’s Chair Says Inflation on Course Towards Central Bank’s 2% Target
Source: Bloomberg Fed’s chair Jerome Powell said inflation has accelerated but expects it will return to the 2% target as supply stabilizes. SPY is up 1.43%, EURUSD is down 0.20%. The remarks came from Powell’s written testimony to the House Select Subcommittee on the pandemic crisis quoting increased oil prices and spending as the economy reopens.Investors will … [Read more...] about Fed’s Chair Says Inflation on Course Towards Central Bank’s 2% Target
GBP/USD Turns Bearish After Hawkish As U.S. Indices Remain Under Pressure
The U.S. dollar turned bullish on Thursday following a hawkish FED report that signaled rate hikes.The British pound remains under pressure amid a resurgent greenback also weighed down by COVID-19 concerns.EUR/JPY also turned bearish amid euro weakness and the Japanese yen that continues to hold firm against the major.Concerns about rate hike are the catalysts weighing heavily … [Read more...] about GBP/USD Turns Bearish After Hawkish As U.S. Indices Remain Under Pressure
Wells Fargo Analyst Projects Treasury Yields Surpassing 2% by Year End
Source: CNBC Wells Fargo’s Michael Schumacher projects US 10-year Treasuries to end this year at a high of about 2.20%. 10 Year Treasury is down -0.004%, DXY is up +0.28%. Despite Treasury yields falling temporarily this week following Fed’s decision on rates, Schumacher says uncertain high inflation outlook will see it rise this year. Schumacher attributes the biggest … [Read more...] about Wells Fargo Analyst Projects Treasury Yields Surpassing 2% by Year End
U.K.’s May Retail Sales Volumes Decreased by 1.4%
Source: Office of National Statistics U.K.’s retail sales volumes in May 2021 came down by 1.4% after April’s sharp increase following relaxation of retail restrictions. FTSE 100 is down 0.80% GPBUSD is down 0.23% Food stores and non-store sellers witnessed the highest monthly decrease in sales volume in May of 5.7% and 4.2% respectively as restrictions for … [Read more...] about U.K.’s May Retail Sales Volumes Decreased by 1.4%
