Asian Shares Poised to Gain Ahead of Key US Data and Central Bank Meetings\n\nAsian shares are expected to see gains following a quiet day on Wall Street, as investors await key US economic data and meetings from major central banks. This will provide insight into the likelihood of rate cuts in the coming year. Futures for Japan and Hong Kong point to a strong opening, while Australian stocks are also set to edge higher.\n\nThe S&P 500 and Nasdaq 100 remained steady, with the latter outperforming thanks to a rally in chipmakers. After the closing bell, Oracle Corp. Reported disappointing sales, signaling potential challenges in the tech sector. Treasury yields and the dollar saw little change.\n\nThis report comes just a day before the Federal Reserve’s final decision of 2023, where they are expected to hold rates and announce their Summary of Economic Projections. There is speculation that the Fed may try to temper expectations for future rate cuts.\n\nIn Asia, all eyes will be on a key meeting of Chinese economic policymakers, who will set the agenda for the coming year after a lackluster 2023. Meanwhile, the Bank of Japan is in no rush to scrap negative interest rates, according to sources.\n\nUS consumers’ near-term inflation expectations have dropped, according to a Fed Bank of New York survey. This could indicate that the Fed may not have enough evidence to justify tapering asset purchases or raising interest rates.\n\n While there may be some volatility around the CPI data, the Fed is likely to maintain a cautious approach to rate cuts and monetary policy. \n\n Asian shares are expected to see gains ahead of key US data and central bank meetings.
” Asian Shares Poised to Gain Ahead of Key US Data and Central Bank Meetings\n\nAsian shares are expected to see gains following a quiet day on Wall Street, as investors await key US economic data and meetings from major central banks. This will provide insight into the likelihood of rate cuts in the coming year. Futures for Japan and Hong Kong point to a strong opening, while Australian stocks are also set to edge higher.\n\nThe S&P 500 and Nasdaq 100 remained steady, with the latter outperforming thanks to a rally in chipmakers. After the closing bell, Oracle Corp. Reported disappointing sales, signaling potential challenges in the tech sector. Treasury yields and the dollar saw little change.\n\nThis report comes just a day before the Federal Reserve’s final decision of 2023, where they are expected to hold rates and announce their Summary of Economic Projections. There is speculation that the Fed may try to temper expectations for future rate cuts.\n\nIn Asia, all eyes will be on a key meeting of Chinese economic policymakers, who will set the agenda for the coming year after a lackluster 2023. Meanwhile, the Bank of Japan is in no rush to scrap negative interest rates, according to sources.\n\nUS consumers’ near-term inflation expectations have dropped, according to a Fed Bank of New York survey. This could indicate that the Fed may not have enough evidence to justify tapering asset purchases or raising interest rates.\n\n While there may be some volatility around the CPI data, the Fed is likely to maintain a cautious approach to rate cuts and monetary policy. \n\n Asian shares are expected to see gains ahead of key US data and central bank meetings.”$MFC.TO2023-12-14T10:38:45.590Z
