Sunday, July 21, 2024
HomeWorldJapan markets set to fall ahead of Fed and BOJ decisions this...

Japan markets set to fall ahead of Fed and BOJ decisions this week, Australia and China markets closed

View of the headquarters of the Bank of Japan in Tokyo.

Sopa Images | Lightrocket | Getty Images

Asia-Pacific markets are set to fall Monday, after a stronger-than-expected jobs report in the U.S. last Friday, which revealed hiring and wage growth picked up in May.

This adds to the narrative the Fed doesn’t have to rush to lower interest rates, which saw traders price in almost no chance of a reduction at either the Federal Open Market Committee’s meeting next week or the next meeting on July 30-31.

This week in Asia, investors will be looking at Japan’s first quarter gross domestic product numbers on Monday, followed by the Bank of Japan’s rate decision on Friday.

Separately, China and India’s inflation numbers for May will be released on Wednesday.

Japan’s Nikkei 225 futures pointed to a weaker open for the market, with the futures contract in Chicago at 38,580 and its counterpart in Osaka at 38,670 compared to Friday’s close of 38,683.93.

A few Asian markets are closed for a holiday Monday, including Australia, mainland China, Hong Kong and Taiwan.

In Wall Street on Friday, the S&P 500 ended flat after touching an intraday record-high. The Dow Jones Industrial Average slipped 0.22%, and the Nasdaq Composite edged down 0.23%.

Despite the losses, all three of the major averages notched a winning week. The Dow posted a 0.29% gain, while the S&P 500 added nearly 1.32% and the Nasdaq advanced 2.38% for the week.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -spot_img

Most Popular