Global stock markets are rising with the Kovid developments in China before Fed Chairman Jerome Powell’s speech.
Global stock markets rose after a volatile start to the day.
While the Topix index in Japan fell 0.4 percent, the Hang Seng index in Hong Kong rose 0.3 percent. Shanghai Stock Exchange fell 0.3 percent in China.
While the US stock markets fell yesterday, led by technology companies, today, the US and European index futures contracts are rising before Powell. Fed Chairman Powell’s speech this evening will also look for messages on the economy and the employment market and signals whether the 75 basis point increase streak will continue.
Oil continued to rise on the third day with the expectation that OPEC+ would cut production.
Gold advanced to its biggest monthly gain since May 2021 as the dollar slumped. Bitcoin and other cryptocurrencies also rose in the Asian session.
The Bloomberg Dollar Spot Index fell 0.1 percent. The euro rose 0.2 percent against the dollar, while the offshore yuan reversed yesterday’s rally and fell 0.2 percent.
