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Markets Update: Japan's Nikkei index retreated on Tuesday after a strong previous session, with investors taking profits and remaining cautious ahead of crucial central bank meetings, while the broader market displayed mixed sentiment, with oil prices falling, currencies fluctuating, and key economic data releases anticipated for the day.
Economic Calendar
Global Markets Roundup: 30 July 2024
Japan's Nikkei NI225 index saw a decline on Tuesday as investors opted to cash in after Monday's sharp gains, all while market participants remained cautious ahead of key central bank meetings in Japan and the United States. The Nikkei NI225 dropped 0.96% to 38,101.24 by midday, after rallying 2% in the previous session, bouncing back from a three-month low. The broader Topix index also retreated, losing 0.87% to close at 2,735.7. The S&P 500 SPX showed signs of stabilisation after a two-week downturn, with futures ES1! ticking 0.4% lower in the Asia session, as markets awaited policy announcements from Washington and Tokyo.
Key stocks led the decline, with Uniqlo owner Fast Retailing falling 2.19%, technology conglomerate SoftBank Group dropping 2.06%, and chip-equipment manufacturer Tokyo Electron sliding 1.64%. Conversely, robot maker Fanuc rose 3.26%, becoming a rare bright spot after it raised its annual operating profit forecast by 0.8%. Pasona Group surged 13.4% following a regulatory filing revealing activist investor Oasis Management had acquired a 5.02% stake in the company. Overall, 46 out of 225 Nikkei components advanced, 175 declined, and three remained unchanged.
The EURUSD traded around $1.0851. The  AUDUSD traded at $0.6536. The USDJPY hovered at 153.95. The dollar index DXY traded 0.019% higher at 104.6.
Oil prices traded near seven-week lows, pressured by a weakening demand outlook. Brent crude oil futures BRN1! declined 0.4%, to $79.46 a barrel. U.S. crude CL1! futures were 0.5% lower, at $75.45 a barrel, while GOLD prices hover around $2,385 per ounce. CBOT corn ZC1! receded 0.3% to $4.11 a bushel and wheat ZW1! lost 0.66% to $5.27-1/2 a bushel. October raw sugar SB1! traded and closed 3.2% higher, at 19.01 cents per lb. September arabica coffee KC1! traded and closed 0.1% higher, at $2.304 per lb.
Looking ahead today, markets anticipate, GDP Growth Rate out of EU, Italy and Germany, German Inflation Rate, US JOLTs Job Openings.
General news - Information source from multiple newswires.
The article and the data is for general information use only, not advice!
The Trade Academy Team
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