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Dollar strikes back, Japan in spotlight – Aug 23

Posted on

August 23, 2024

by

moneysmart-girl

Today’s Market News

Key developments on Friday:

Japan inflation (July)
BOJ Governor Ueda speaks
Singapore inflation (July)

Key summary

U.S. stocks decline as markets eye Fed rate cuts
U.S. dollar rebounds
Treasury yields up
Oil rebounds

Fixed Income

US 10-year notes rose 8.6 basis points to 3.862%, from 3.776% late on Wednesday. US 2-year note yield rose 9.4 basis points to 4.0161%, from 3.922% late on Wednesday.

Equities

MSCI’s broadest of APAC ex-Japan (.MIAPJ0000PUS), opens new tab gained 0.3%.

On Thursday, Nikkei .N225 rose 0.68% to 38,211.01, highest close since Aug. 1. China’s CSI 300 closed down 0.3%, at 5-month low.

Forex

dollar rebounded from a 13-month low against the euro before Federal Reserve Chair Jerome Powell is due to speak on Friday. DXY, gained about 0.4%.

Euro, depsite strong gains this month, fell 0.4%. Pound peaked at 13-month high, last at $1.3086.

Gold fell more than 1%, pressured by a rebound in dollar & Treasury yields.

Market Data

Index	Last	Change	% Change
trading lower Dow Jones Industrial Average .DJI	40,712.78	-177.71	0.43%Negative
trading lower Nasdaq Composite Index .IXIC	17,619.35	-299.63	1.67%Negative
trading lower S&P 500 Index .SPX	5,570.64	-50.21	0.89%Negative

Index	Last	Change	% Change
unchanged Nikkei Index .N225	38,211.01	—	—
trading higher Hang Seng Index .HSI	17,641.00	+249.99	1.44%Positive

Source: LSEG, opens new tab – data delayed by at least 15 minutes

For more news, visit reuters.com

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