Asian stocks rose after reports from U.S. housing to manufacturing showed the world’s largest economy is strengthening. Japan’s Nikkei 225 Stock Average headed for a 10th day of gains, the longest winning streak in 26 years.
Iluka Resources Ltd. climbed 4 percent in Sydney, leading an advance in the region, after posting an unexpected profit. Santos Ltd. advanced 3.8 percent as earnings advanced at the Australian oil and gas producer. SoftBank Corp. accounted for the largest gain on the Nikkei 225, rising 0.8 percent in Tokyo.
The MSCI Asia Pacific Index added 0.1 percent to 148.58 as of 9:23 a.m. in Tokyo, on course for a second week of gains, before markets open in Hong Kong and China. The gauge is trading within 1 percent of a six-year high as investors await clues on the timing of U.S. interest-rate increases from Federal Reserve Chair Janet Yellen, who speaks today at a Kansas City Fed conference in Jackson Hole, Wyoming.
Recommended Content
Editors’ Picks
EUR/USD drops below 1.0800 after German Retail Sales data
EUR/USD has come under fresh selling pressure and trades below 1.0800 after the data from Germany showed that Retail Sales declined by 1.9% MoM in February. Resurgent US Dollar demand is adding to the downside in the pair. US data are next in focus.
GBP/USD stays weak near 1.2600 amid market caution
GBP/USD remains defensive near 1.2600 in European trading on Thursday. The hawkish tone from Fed Governor Christopher Waller keeps the US Dollar afloat amid a cautious trading environment ahead of key US data releases and the Good Friday trading lull.
Gold price bulls keenly await US PCE Price Index on Friday before placing fresh bets
Gold price (XAU/USD) continues with its struggle to make it through the $2,200 mark on Thursday and oscillates in a narrow trading band through the early part of the European session.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
The other terminal rate: How far will policy rates be cut?
Recent communication by the Federal Reserve and the ECB has made it clear that the first cut in official interest rates is coming. Both central banks are saying the same but the ECB communication is more opaque than that of the Fed.