CPI - Asia-Pacific markets mixed as investors parse latest tech earnings Fed decision looms
2023-07-26 02:46:10 ET
Japan -0.04% . Japan data - PPI Services (Corporate Services Price Index) +1.2% y/y (expected 1.4).
China -0.39% .
Hong Kong -0.41% .
Australia +0.85% . The annual inflation rate in Australia dropped to 6.0% in Q2 of 2023 from 7.0% in Q1, compared with market forecasts of 6.2%. Australia's annual food price inflation fell to 7.5% in Q2 of 2023 from 8.0% in Q1.
The monthly Consumer Price Index indicator in Australia increased 5.4% in the year to June 2023, easing from a downwardly revised 5.5% rise in the year to May 2023, and matching the market consensus.
India +0.69% .
Singapore’s manufacturing production dropped 4.9% year-on-year in June 2023, compared to market forecasts of a 6.8% fall, after a downwardly revised 10.5% decline in the previous month, pointing to the smallest decrease since March.
The Composite Consumer Sentiment Index rose to 103.2 points in June of 2023 from 100.7 in the previous month, beating market expectation of 96.4.
In the U.S. on Tuesday, all three major indexes ended higher , as investors assessed the latest corporate results ahead of Fed’s decision. The Nasdaq Composite closed 0.61% higher at 14,144.56 points. The benchmark S&P 500 added 0.28% to settle at 4,567.53 points, while the Dow gained 0.08% to finish at 35,437.93 points.
The Fed’s policy meeting started on Tuesday, with most market participants expecting the central bank to deliver a 25 basis-point rate hike when the meeting concludes on Wednesday.
Along with the Fed, the European Central Bank, or ECB, and the Bank of Japan are also meeting this week. Market focus will be on what Fed Chair Jerome Powell and ECB President Christine Lagarde say about the future.
Coming up in session: Fed decision at 2 pm ET on Wednesday, followed by a 2:30 pm press conference with Chair Jerome Powell.
Oil prices eased on Wednesday, after build in U.S. crude stockpiles.
Brent crude futures slid 32 cents, or 0.4%, to $83.32 a barrel by 0036 GMT. U.S. West Texas Intermediate, or WTI, crude was at $79.35 a barrel, down 28 cents, or 0.4%.
Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ).
U.S. stock futures edged lower on Wednesday as caution dominated sentiment ahead of a key interest rate decision from the Federal Reserve, while investors parsed through the latest corporate earnings from major technology firms. : Dow -0.03% ; S&P 500 +0.07% ; Nasdaq -0.06% .
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Asia-Pacific markets mixed as investors parse latest tech earnings, Fed decision looms