Markets Daily: Treasury Rises, Asian Stocks Set for Mixed Open

Equity futures pointed lower in Australia and Japan, but higher in Hong Kong amid curbs. Monday saw the S&P 500 lifted 0.2% to another record high. The Nasdaq also reached a fresh high, lifted 1% backed by the likes of Apple, Amazon, and Zoom. The Dow Jones, on the other hand, was down 0.4%. 

Treasury rose overnight with the US 10-year yields lower by 6 points to 1.48% and short-term US 2-year yields fell by 1 point to near 0.26% as investors await the monthly job data this month. 

Forex trading saw the US dollar stronger against other major currencies. According to ZERO Markets’ Meta Trader 5 platform, the Euro fell from highs near $1.1940 to lows near $1.1900 against the dollar. The Aussie dollar fell from highs near $0.76 to lows around $0.7555 against the dollar at US close. 

Commodity trading saw crude oil extended a drop by 2% with the market expecting an increase in supply in the upcoming OPEC+ meeting. Brent crude fell by 2% to near $US74.68 a barrel. WIT fell 2% to near $US72.91 a barrel. 

Iron ore prices rose by 0.6% to near $220.05 a tonne. Precious metals trading saw gold rose 0.2% to near US$1778 an ounce.

Key events this week (Economic Calendar):

  • OPEC+ ministerial meeting (Thursday)
  • U.S. jobs report (Friday)

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