U.S. equities edged higher as oil prices steadied and Bitcoin surged, but gains were offset by weak chip and AI stocks and rising Treasury yields amid Middle‑East tensions.
In July, Japan’s consumer price index rose to 1.9%, the highest level this year, driven by a sharp rise in energy prices and a notable jump in fresh‑food costs, while core inflation settled at 1.8%.
U.S. markets fell on Thursday, with the S&P 500, Dow and Nasdaq sliding to 2‑week lows amid rising crude prices and a split Fed signal. Inflation worries and higher yields weighed on sentiment.
The U.S. dollar weakened after the Treasury announced larger purchases of long‑dated bonds, while precious metals rallied sharply, pushing gold to its highest level in two and a half months.
Asian currencies showed a mixed performance against the U.S. dollar, with analysts suggesting that a recent U.S. Treasury Department announcement to increase its long‑term bond repurchase program could support the region’s currencies.
Asian equities climbed on evidence of easing U.S. inflation and a retreat in crude prices, reinforcing expectations that the Federal Reserve will hold rates steady at its next policy meeting.
Rising prices are sparking a wave of criticism toward the Japanese government while simultaneously heralding a shift from prolonged deflation to a more dynamic economy, according to Bloomberg correspondent Shery Ahn.
Gold prices steadied around $4,400 per ounce while investors evaluated the Federal Reserve’s future rate path and the chances of reopening the Strait of Hormuz.
JGB yields rose in early Tokyo trading after the Bank of Japan’s July 30‑31 Summary of Opinions hinted at a potentially accelerated schedule of interest‑rate hikes.
JGBs fell in early Tokyo trading after the Bank of Japan's July 30‑31 Summary of Opinions hinted at a potentially quicker pace of future rate increases.
Gold prices remained unchanged in the Asian session as U.S. July payroll data led investors to anticipate a gentler labor‑market trajectory, weighing on the dollar and supporting precious metals, according to Sucden Financial.