Asian indices rallied early Friday, following a positive lead from Wall Street overnight. Trading is expected to be light as investors await possible clues about interest rates at an annual meeting of central bankers in Jackson Hole, Wyoming.
U.S. stocks climbed on Thursday, as investors embraced upbeat economic reports before Federal Reserve Chair Janet Yellen talks about the labor market in Jackson Hole on Friday.
Returning to its perch above 17,000 for the first time since July 29, the Dow Jones Industrial Average gained 0.4 percent. The S&P 500 finished at 1,992.37, up 0.3 percent, for its 28th record finish this year. After wavering on either side of neutral, the tech-heavy Nasdaq added 0.1 percent.
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GBP/USD remains on the defensive near 1.2430 during the early Asian session on Friday. The downtick of the major pair is backed by the stronger US Dollar as the strong US economic data and hawkish remarks from the Fed officials have triggered the speculation that the US central bank will delay interest rate cuts to September.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold: Middle East war fears spark fresh XAU/USD rally, will it sustain?
Gold price is trading close to $2,400 early Friday, reversing from a fresh five-day high reached at $2,418 earlier in the Asian session. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row.
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu, WIF token’s show of strength was not just influenced by Bitcoin price reclaiming above $63,000.
Israel vs. Iran: Fear of escalation grips risk markets
Recent reports of an Israeli aerial bombardment targeting a key nuclear facility in central Isfahan have sparked a significant shift out of risk assets and into safe-haven investments.