STORY CONTINUES BELOW THESE SALTWIRE VIDEOSA look at the day ahead in European and global markets from Kevin Buckland
Even ultra-resilient Japanese stocks seem to have finally succumbed, with the Nikkei threatening to snap an eight-day winning streak. Markets in China and Australia took another steep step down. The dollar continues to overpower all its rivals, popping to a new 10-month peak versus the yen, despite Japanese finance ministry warnings.
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Marketmind: Fed steals focus, stocks sell offThe dominating theme in global financial markets is once again central bank policy, and equity investors in particular are worried. U.S. data is showing a flare-up in inflationary pressures, just as markets had become comfortable with the idea of a Goldilocks scenario replete with soft landings and less hot labour markets. Markets in China and Australia took another steep step down.
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Marketmind: Oil, yield spike takes wind out of market sailsAsia is set for a cautious open on Wednesday after a jump in oil prices to their highest level this year and resulting spike in bonds yields on Tuesday helped take some of the froth out of local stock markets that had built up recently. Australia's economy is expected to have grown at a faster quarter-on-quarter rate of 0.3% than the 0.2% registered in the January-March period, and at a 1.8% annual rate, which would be down from 2.3% in Q1. These figures come a day after the Reserve Bank of Australia held its key cash rate on hold at 4.10% for a third month and indicated that its tightening cycle could be over, triggering a sharp sell off in the Australian dollar.
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Marketmind: Oil, yield spike takes wind out of market sailsBy Jamie McGeever (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asia is set for a cautious ...
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