Futures in Australia, Hong Kong, and Japan are pointing higher after the technology sector led a Wall Street rebound on economic optimism. The US sharemarkets snapped a three-day losing streak. The Dow Jones lifted by 0.6% and the S&P 500 added 1.1%. Nasdaq climbed the most by 1.8% led by gains of Apple (+2.1%), Tesla (+4.1%), and Microsoft (+1.4%).
US yields fell overnight and the weaker-than-expected demand for an auction of 10-year inflation-protected debt suggested the unlikelihood for accelerated inflation to be sustained. US 10-year yields fell by 5 points to near 1.63%. US 2-year yields fell 1 point to near 0.147%.
Foreign exchange trading on Thursday saw the greenback weaker against major currencies. According to ZERO Markets’ MetaTrader 4 platform, EUR/USD rose from lows near 1.2177 to highs around $1.2227. AUD/USD rose from lows near $0.7735 to highs around $0.778.
Commodity trading saw global oil prices traded lower by near 2% on Thursday on the back of the possibility of more supply from Iran hurt energy stocks. Brent crude fell 2.3% to $US 65.11 a barrel.
Precious metals trading saw gold trading near the highest level in 4 months near $US1877 an ounce. Iron ore prices fell 2.1% $210.85 a tonne.
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