"Global stocks hit a new record in Asian trade, led by a three-day rally in Tokyo where the Nikkei jumped to a fresh peak, after Japan's conservative governing coalition strengthened its grip on power. Sanae Takaichi's Liberal Democratic party (LDP) secured a comprehensive victory in Sunday's election. The Nikkei jumped 2.3% to a new all-time high, and the yen rose for a second day."
"So, the US dollar kicked off the week on the back foot, and upcoming US data from today through Friday will determine whether the pressure continues or whether the greenback finds some relief. US retail sales today are expected to show slowing growth in December not great news for the most festive month of the year. On Wednesday, the official jobs report is expected to come in soft, with around 70k non-farm job additions, a steady unemployment rate and slower wage growth at 3.6%."
"On Friday, the consumer prices index is seen easing to 2.5% from 2.7% previously. If soft labour data is combined with cooling inflation, US [bond] yields and the dollar could remain under pressure supporting gold, other metals, Bitcoin and equities, particularly small-, mid-cap and value stocks."
Global stocks rose to record levels after a three-day rally in Tokyo pushed the Nikkei to an all-time high following the LDP's comprehensive election victory. The yen strengthened for a second day and the MSCI All-Country World Index hit a new record, while the dollar slipped and traded flat against a basket of major currencies. Upcoming US data this week—retail sales, a soft jobs report around 70k additions with 3.6% wage growth, and a cooling CPI to 2.5%—could keep US yields and the dollar under pressure. BP reported a 16% fall in 2025 profits to $7.5bn, paused share buybacks and cited weaker oil prices after Q4 profits fell quarter-on-quarter.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]