{"id":27954,"date":"2024-05-02T08:37:51","date_gmt":"2024-05-02T08:37:51","guid":{"rendered":"https:\/\/www.xtrememarkets.com\/?p=27954"},"modified":"2024-05-02T08:37:51","modified_gmt":"2024-05-02T08:37:51","slug":"asian-stocks-rise-post-fed-decision-yen-declines-resume","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/US\/asian-stocks-rise-post-fed-decision-yen-declines-resume\/","title":{"rendered":"Asian Stocks Rise Post-Fed Decision; Yen Declines Resume"},"content":{"rendered":"<h1><strong>Asian Stocks Rise Post-Fed Decision; Yen Declines Resume<\/strong><\/h1>\n<p><span style=\"font-weight: 400;\">Most Asian <a href=\"https:\/\/www.xtrememarkets.com\/US\/stocks\/\"><strong>stocks<\/strong><\/a> rose following comments from Federal Reserve Chair Jerome Powell, which tempered expectations for further interest-rate hikes. Meanwhile, the yen weakened after briefly surging, indicating possible intervention.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In market movements, equity indexes in Australia and Hong Kong saw gains, while Japanese stocks remained stable. U.S. stock futures experienced a rally, contrasting with a dip in European contracts. Market focus now shifts to forthcoming economic indicators, including euro-area manufacturing data and Apple Inc.\u2019s earnings report.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The yen&#8217;s decline by as much as 1.1% against the dollar, following a sharp rise in New York, suggests doubts about Japan&#8217;s ability to counter further weakening despite its significant interest-rate gap with the U.S. Japan\u2019s chief currency officer, Masato Kanda, refrained from commenting on potential market interventions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Federal Reserve maintained the federal funds rate at 5.25% to 5.5%. Powell indicated that a rate hike is unlikely without clear signs that current policies are insufficient to achieve a 2% inflation target. This stance suggests a cautious approach towards monetary policy, aimed at managing persistent inflation pressures.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the currency front, the Bloomberg dollar index fell for a second consecutive day, influenced by lower U.S. yields post-Fed announcement. The euro remained steady after a slight increase the previous day.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Corporate earnings also highlighted market dynamics. ArcelorMittal SA reported better-than-expected results, and Apple\u2019s upcoming earnings will provide insights into its performance amid a slowdown in China.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">John Woods of Lombard Odier commented on the resilience seen in earnings, emphasizing the predominance of U.S. narratives in the current market environment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additional economic insights are expected with the release of April\u2019s non-farm payroll data, with forecasts suggesting a stable unemployment rate of 3.8%. This could indicate persistent robust hiring trends, potentially challenging the Fed\u2019s moderation efforts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In commodities, oil prices bounced back from prior losses driven by concerns over demand and high U.S. crude inventories. Gold prices increased, supported by the Fed&#8217;s indication of a potential shift towards reducing borrowing costs once confident in the easing of inflation.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asian Stocks Rise Post-Fed Decision; Yen Declines Resume Most Asian stocks rose following comments from Federal Reserve Chair Jerome Powell, which tempered expectations for further interest-rate hikes. Meanwhile, the yen weakened after briefly surging, indicating possible intervention. In market movements, equity indexes in Australia and Hong Kong saw gains, while Japanese stocks remained stable. U.S.<\/p>\n... <a href=\"https:\/\/www.xtrememarkets.com\/US\/asian-stocks-rise-post-fed-decision-yen-declines-resume\/\">continue reading<\/a>.","protected":false},"author":1,"featured_media":27957,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[15],"tags":[682,265,24,157,392,148,2313],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Asian Stocks Rise Post-Fed Decision; Yen Declines Resume<\/title>\r\n<meta name=\"description\" content=\"Most Asian stocks rose following comments from Federal Reserve Chair Jerome Powell, which tempered expectations for further interest-rate hikes.\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/US\/asian-stocks-rise-post-fed-decision-yen-declines-resume\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Asian Stocks Rise Post-Fed Decision; 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