A look at the day ahead in Asian markets from Jamie McGeever.
Asian market focus on Wednesday turns to Chinese purchasing managers index figures, which will give the first insight into factory and service sector activity in the world's second largest economy in May.
Japanese retail sales, South Korean retail sales, industrial output and service sector growth, as well as Australian CPI inflation and credit growth reports - all for April - will be released too, potentially giving these currencies a steer. The flurry of Asian economic indicators comes against the global backdrop of optimism that the tentative agreement in Washington over theRelief at the 11th hour deal to avoid what would be a catastrophic default gave most markets a lift on Tuesday. This was reflected most in the fall in ultra-short-dated U.S. bills, which fell back in line with the current Fed policy rate and implied near-term market rates.
But it's cautious relief and optimism. Until the 99-page bill officially passes, there remains the outside chance that it won't, even though the voting mathematics strongly suggest it will.ended mixed on Tuesday, even though tech and the Nasdaq rose after another jump in Nvdia shares briefly put the chipmaker into the rare club of companies valued at $1 trillion.
Asian markets on Wednesday might also get some relief from the dollar's slip on Tuesday in line with U.S. bond yields. But it's a mixed bag for Asian currencies.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morning Bid: Dollar flexes its musclesA look at the day ahead in Asian markets from Jamie McGeever.
Read more »
Morning Bid: Too soon to drink to the US debt dealA look at the day ahead in European and global markets from Vidya Ranganathan
Read more »
Morning Bid: Debt vote in sight, but further Fed squeezeA look at the day ahead in U.S. and global markets from Mike Dolan
Read more »
China's 1st domestically made passenger plane completes maiden commercial flightChina’s first domestically made passenger jet flew its maiden commercial flight on Sunday, as China looks to compete with industry giants such as Boeing and Airbus in the global aircraft market. The C919 plane, built by the Commercial Aviation Corporation of China, carried about 130 passengers on the flight, according to state-owned newspaper China Daily. The jet took off Sunday morning from Shanghai Hongqiao Airport and landed less than two hours later in Beijing.
Read more »
Christie allies launching super PAC ahead of likely 2024 GOP presidential bidFormer New Jersey Gov. Chris Christie’s allies have started a super PAC ahead of a likely 2024 bid for president.
Read more »