The week has begun with Asian stock markets leading the way modestly higher.
- Major Asian equity indices Hong Kong, China, Australia, South Korea, and Japan are ending the day higher. Some analysts see an increasing sentiment expecting a faster pace of US rate cuts as possibly helping sentiment.
- The precious metals Gold and Silver are rising, especially spot Silver which is up by more than 1% since the Tokyo open. Long-term trend traders will still be interested in Silver on the long side.
- It is likely to be a quiet day in many markets, especially in Forex markets, as it is a public holiday today in both the USA and the UK.
- An ex-member of the Bank of Japan’s policy board has said he expects the Bank of Japan could raise rates by a further 0.50% by 2025, if economic conditions do not change materially. Rate hikes could be bullish for the Yen.
- There will be a release today of Consumer Confidence data for the USA.
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