Asia stocks rally on Fed cut bets; Aussie jumps on jobs data

TOKYO - Asian stocks gained on Thursday, tracking Wall Street's tech-led rally overnight after an as-expected reading of U.S. consumer inflation cemented bets for a Federal Reserve interest-rate cut next week.topped 40,000 for the first time since mid-October, led by advances in chip-sector shares. The exporter-heavy index also got a boost from a weakening yen, as traders pared bets for a Bank of Japan rate hike next week.

The Australian dollar surged after employment data topped estimates by a wide margin, rebounding from Wednesday's weakness following a Reuters report that Beijing is considering allowing the yuan to depreciate further next year. China is Australia's top trading partner and theThe yuan held its ground above a one-week low after the central bank set a marginally stronger official fixing.The U.S. consumer price index rose 0.

It slipped 0.2% to 152.11 yen, edging back from a two-week high hit Wednesday on the back of a Bloomberg report that BOJ officials see"little cost" in waiting to hike rates again. Market-implied odds on a quarter-point increase on Dec. 19 last stood at 27%.Gold rose to a more than one-month high amid the promise of lower bond yields as the Fed and other major central banks ease policy. It reached $2,725.79 for the first time since Nov. 6 before pulling back to $2,710.45.U.S.

Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate.

It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia markets kickstart data-heavy week on a strong note with Aussie stocks hitting record highsSingapore will release its inflation figures for October on Monday. Economists expect headline inflation at 1.8%, down from 2% in the prior month.
Source: NBCNewYork - 🏆 270. / 63 Read more »

Asia markets kickstart data-heavy week on strong note, with Aussie stocks hitting record highsSingapore will release its inflation figures for October on Monday. Economists expect headline inflation at 1.8%, down from 2% in the prior month.
Source: NBCNewYork - 🏆 270. / 63 Read more »