Markets Wrap: Asian Stocks Set to Open Mixed After the US Closes Near Record

Futures Australia and Hong Kong pointed higher, while Japan lowered. Asian stocks are set to open mixed on Wednesday after US equities traded near-record high ahead of key inflation data. Overnight, the S&P 500 was flat, with the Nasdaq gained 0.3%. The Dow Jones lowered by just 0.1%. The focus remains on the consumer prices report on Thursday, which may have an impact on Federal Reserve’s perceptions on tapering asset purchases.

The US 10-year yields fell to a one-month low, fell by 4 points to 1.53%. US 2-year yields were steady near 0.155%. 

Forex trading saw the dollar advanced for the first time in three days. According to ZERO Markets’ Meta Trader 5 platform, the Euro fell from highs near 1.2200 to lows near $1.2165 against the dollar. The Aussie dollar fell from highs near $0.7663 to lows around $0.7733 against the dollar. 

Commodity trading saw global oil prices resumed rally to $70 a barrel in New York as investor confidence in oil demand grows. Brent crude rose by 1% to near $US 72.22 a barrel. WTI lifted by 1.2% to $70.05 a barrel.

Iron ore prices lost 3.7% to near $210 a tonne. Precious metals trading saw gold fell by 0.2% to near $US 1,894 an ounce.

Cryptocurrency trading saw Bitcoin remained under pressure after a retreat this week and is near $33,500 on near Asia openings.

Key events this week (Economic Calendar):

European Central Bank Decision (Thursday)

US Consumer Price Index (Thursday)

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