FX Careers

US Session Update: Asian Markets Lead Global Rally as Federal Reserve Holds Steady

Global Markets:

  •  Asian Stock Markets : Nikkei up 1.20%, Shanghai Composite down 0.45, Hang Seng up 0.61% ASX  up  0.90%
  • Commodities : Gold at $1992.05 (0.28%), Silver at $23.17 (1.39%), Brent Oil at $85.26 (1.06%), WTI Oil at $81.33 (1.13%)
  • Rates : US 10-year yield at 4.729, UK 10-year yield at 4.532, Germany 10-year yield at 2.710

News & Data:

  • (USD) Federal Funds Rate 5.50% vs 5.50% expected
  • (USD) Crude Oil Inventories 0.8M vs 1.5M expected
  • (USD) ISM Manufacturing PMI 46.7 vs 49.0 expected

Markets Update:

Asian markets surged following the U.S. Federal Reserve’s decision to maintain its benchmark interest rates, coupled with an upbeat assessment of the economy. South Korea reported a third consecutive month of rising consumer prices, slightly above expectations, while Australia’s trade surplus in goods narrowed.

In Japan, the Nikkei 225 climbed by 1.2%, with the Topix index adding 0.51%, both reaching multi-week highs. South Korea’s Kospi and Kosdaq indices marked substantial gains of 1.81% and 4.55%, respectively, with Hong Kong’s Hang Seng index rising by 0.61%. China’s CSI 300 was the only major benchmark in negative territory, slipping by 0.43%. Australia’s S&P/ASX 200 rose by 0.9% to its highest level in nearly two weeks.

In the United States, markets rebounded as the Federal Reserve’s decision to hold interest rates steady for the second time reassured investors, leading to gains in major indices. The Dow Jones Industrial Average rose by 0.67%, the S&P 500 climbed by 1.05%, and the Nasdaq Composite added 1.64%.

Upcoming Events:

  • 12:00 PM GMT – GBP BOE Monetary Policy Report
  • 12:00 PM GMT – GBP Monetary Policy Summary
  • 12:00 PM GMT – GBP MPC Official Bank Rate Votes
  • 12:00 PM GMT – GBP Official Bank Rate
  • 12:30 PM GMT – GBP BOE Gov Bailey Speaks
  • 12:30 PM GMT – USD Unemployment Claims