top of page
Search

28/05/24 Briefing

Moving markets today: Asian markets slide on inflation fears; oil prices climb, IMF boosts China growth forecast, Australia inflation surge; investors eye Fedspeak and Beige Book

US stocks closed higher on Tuesday, marking a positive start to the shortened holiday week. However, the mood shifted in most Asian markets on Wednesday as concerns over persistent inflation weighed heavily. There’s apprehension that central banks might need to maintain high interest rates for an extended period to curb inflation. On the other hand, oil prices climbed as expectations grew that major producers would uphold their output cuts. Conversely, gold prices dipped slightly as speculation waned regarding potential rate cuts by the US. The International Monetary Fund (IMF) upgraded its growth forecast for China, indicating optimism about its economic prospects. The recent surge in April’s inflation figures may lead the Reserve Bank of Australia (RBA) to extend its pause on rate adjustments. Throughout the week, investors will closely monitor speeches by top Federal Reserve officials, while anticipation builds for the release of the PCE price index on Friday, a key event influencing market sentiment. Here are five key takeaways for your day.

1 view0 comments

Recent Posts

See All

Comentarios


bottom of page