_edited_edited.png)
Markets Update: Asian equities falter following hawkish central bank activity, PMIs in focus
Today's important market events:
[GBP] Core Retail Sales / Retail Sales (MoM/YoY - May) - 08:00 CEST
[EUR] German Manufacturing PMI (Jun) - 09:30 CEST
[GBP] Composite PMI/Manufacturing PMI/Services PMI - 10:30 CEST
[USD] Services PMI (Jun) - 15:45 CEST
Global Markets Roundup: 23 June 2023
US stocks finished mixed, with the S&P 500 and Nasdaq 100 snapping their recent losing streaks. APAC stocks failed to sustain an early positive bias and faltered following the mixed performance stateside.
European equity futures are indicative of a softer open. The US dollar index (DXY) is firmer and back above 102.50. The euro (EUR) extended its pullback from 1.10, while the Japanese yen (JPY) is trading around 143. Antipodean currencies are lagging.
The Australian ASX 200 was down 1.0%, led by declines in energy stocks. The Nikkei 225 in Japan fell 0.8%, while the Hang Seng in Hong Kong dropped 1.5%.
In the currency markets, the US dollar index (DXY) rose to a new 20-year high, as investors priced in more aggressive rate hikes from the Federal Reserve. The euro (EUR) fell to a new 5-year low against the dollar, while the Japanese yen (JPY) also weakened.
Commodity prices were mixed. Oil prices fell to a 12-week low, as concerns about a global economic slowdown outweighed supply concerns. Gold prices also fell, while copper prices were little changed.
Looking ahead, key economic data releases include EU, UK, and US flash PMIs, UK retail sales, and speeches from Fed officials Bostic, Mester, and Bullard, as well as ECB officials Lagarde, Panetta, Schnabel, and Elderson.
General news - Information source from multiple newswires.
The article and the data is for general information use only, not advice!
The Trade Academy Team