Nikada
Japan (NKY:IND) -1.00%. The Japanese yen steadied around 151.2 per dollar, halting a sharp decline amid fears that authorities could intervene again in the currency markets.
The index of leading economic indicators in Japan was revised lower to 109.5 in January 2024 from 109.9 in the preliminary estimates, and after a downwardly revised 109.9 in December 2023.
The index of coincident economic indicators in Japan, which covers a range of data, such as factory output, employment, and retail sales, was revised upward to 112.1 in January 2024 from the flash figure of 110.2.
China (SHCOMP) +0.19%. The offshore yuan appreciated past 7.25 per dollar, rebounding sharply from four-month lows amid reports that Chinese state-owned banks supported the currency by selling dollars in onshore markets.
Investors were eager to enter new positions after Chinese Premier Li Qiang said Sunday that Beijing was stepping up policy measures to bolster recovery.
Investors now look ahead to the latest manufacturing and services activity data in the coming days to gauge the health of the world’s second-largest economy.
Hong Kong (HSI) +0.17%.
India (SENSEX) markets closed.
Australia (AS51) +0.53%.
In the U.S. on Friday, all three major indexes closed mixed as the record-breaking rally fueled by optimism that the Federal Reserve will cut rates three times this year came to a pause.
U.S. stock futures held steady on Monday as investors continued to assess the outlook for the economy and monetary policy: Dow -0.23%; S&P 500 -0.18%; Nasdaq -0.17%.
The US PCE price index report, which is the Federal Reserve’s preferred inflation gauge, will be released on Friday. US central bank officials, led by Fed Chair Jerome Powell, will also deliver speeches in various events this week.
Australia will release inflation data on Wednesday, while Tokyo’s inflation figures, a leading indicator of nationwide price trends, are due on Friday.
It will be a busy week in Japan with BoJ Summary of Opinions, unemployment rate, industrial production, retail sales, and housing starts. Finally, Canada will release its February GDP growth estimates.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).