Asian equity markets rose on Wednesday after the S&P 500 index closed above the 2,000 mark for the first time ever.
Wall Street's record gains overnight were sparked by better-than-expected reports that cast a favorable light on the economy. Consumer confidence hit its highest level since 2007 in August while durable goods orders posted their biggest gain on record in July.
News that Israel and militant groups in Gaza agreed to halt all fighting in the war-torn region may also add to the optimistic mood. Tel Aviv also said that it will open more border crossings to allow goods to flow into the region.
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AUD/USD gains momentum above 0.6500 ahead of Australian Retail Sales data
AUD/USD trades in positive territory for six consecutive days around 0.6535 during the early Asian session on Monday. The upward momentum of the pair is bolstered by the hawkish stance from the Reserve Bank of Australia after the recent release of Consumer Price Index inflation data last week.
EUR/USD holds positive ground above 1.0700, eyes on German CPI data
EUR/USD trades on a stronger note around 1.0710 during the early Asian trading hours on Monday. The weaker US Dollar below the 106.00 mark provides some support to the major pair.
Gold trades on a softer note below $2,350 on hotter-than-expected US inflation data
Gold price trades on a softer note near $2,335 on Monday during the early Asian session. The recent US economic data showed that US inflationary pressures staying firm, which has added further to market doubts about near-term US Federal Reserve rate cuts.
Ethereum fees drops to lowest level since October, ETH sustains above $3,200
Ethereum’s high transaction fees has been a sticky issue for the blockchain in the past. This led to Layer 2 chains and scaling solutions developing alternatives for users looking to transact at a lower cost.
Week ahead: Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.