Australian stocks rose with Japanese index futures after better-than-estimated company earnings and signs of global economic strength fueled U.S. equity gains. The yen held losses while crude oil retreated.
The S&P/ASX 200 Index added 0.5 percent by 10:24 a.m. in Sydney, set for its biggest weekly gain since February. The NZX 50 Index climbed 0.7 percent in Wellington, while Nikkei 225 Stock Average futures were bid 1.5 percent higher in Osaka. Standard & Poor’s 500 Index futures were little changed after the gauge rose for the fifth time in six days. The yen was at 108.16 per dollar after sliding more than 1 percent last session as Treasuries fell. Korean won forwards weakened after growth data. Oil in New York dropped 0.4 percent as copper declined.
Global stocks are poised for their first weekly advance since mid-September following a rout that wiped about $3 trillion off the value of equities over the previous three weeks. Monthly U.S. jobless claims dropping to a 14-year low, coupled with improved euro-area and Chinese factory data and above-estimate earnings from Caterpillar Inc. (CAT) to 3M Co. soothed concern over the global economy. Korea’s economy picked up last quarter, data today showed. Chinese property prices are due.
Recommended Content
Editors’ Picks
EUR/USD falls back toward 1.1150 as US Dollar rebounds
EUR/USD is falling back toward 1.1150 in European trading on Friday, reversing early gains. Risk sentiment sours and lifts the haven demand for the US Dollar, fuelling a pullback in the pair. The focus now remains on the Fedspeak for fresh directives.
GBP/USD struggles near 1.3300 amid renewed US Dollar demand
GBP/USD is paring back gains to trade near 1.3300 in the European session. The data from the UK showed that Retail Sales rose at a stronger pace than expected in August, briefly supporting Pound Sterling but the US Dollar comeback checks the pair's upside. Fedspeak eyed.
Gold hits new highs on expectations of global cuts to interest rates
Gold (XAU/USD) breaks to a new record high near $2,610 on Friday on heightened expectations that global central banks will follow the Federal Reserve (Fed) in easing policy and slashing interest rates.
Pepe price forecast: Eyes for 30% rally
Pepe’s price broke and closed above the descending trendline on Thursday, eyeing for a rally. On-chain data hints at a bullish move as PEPE’s dormant wallets are active, and the long-to-short ratio is above one.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.