Equities
Asian markets ended mostly higher, as Wednesday’s powerful commodity rally lifted materials stocks. The Nikkei closed up .4% to 9104, a 2-month high, and the Kospi edged up .4% to 1874, led by LG Display’s 2.7% gain. The ASX 200 rallied 1.1%, as upbeat retail sales data boosted retailers, and miners rallied more than 2%. In greater China, the Shanghai Composite and Hang Seng both eased .1%.
Nikkei Climbs To 2-Month High
In Europe, the major indexes closed slightly lower. Volume was extremely light, due to the American July 4th holiday. The DAX declined .2% to 6565, while the FTSE and CAC40 eased .1%. Italy’s MIB index did not fare as well, slumping .8%.
US stock and bond markets were closed for Independence Day.
Currencies
The pound, euro, and Swiss franc all fell .6% on Wednesday. The Canadian dollar eased .1% to 1.0132, while the yen and Australian dollar closed flat.
Economic Outlook
The ECB will issue its rate decision on Thursday, and is expected to cut interest rates by 25 basis points to .75%. The Bank of England will also issue its rate decision, but is expected to hold rates at .5%.
Asian markets ended mostly higher, as Wednesday’s powerful commodity rally lifted materials stocks. The Nikkei closed up .4% to 9104, a 2-month high, and the Kospi edged up .4% to 1874, led by LG Display’s 2.7% gain. The ASX 200 rallied 1.1%, as upbeat retail sales data boosted retailers, and miners rallied more than 2%. In greater China, the Shanghai Composite and Hang Seng both eased .1%.
Nikkei Climbs To 2-Month High
In Europe, the major indexes closed slightly lower. Volume was extremely light, due to the American July 4th holiday. The DAX declined .2% to 6565, while the FTSE and CAC40 eased .1%. Italy’s MIB index did not fare as well, slumping .8%.
US stock and bond markets were closed for Independence Day.
Currencies
The pound, euro, and Swiss franc all fell .6% on Wednesday. The Canadian dollar eased .1% to 1.0132, while the yen and Australian dollar closed flat.
Economic Outlook
The ECB will issue its rate decision on Thursday, and is expected to cut interest rates by 25 basis points to .75%. The Bank of England will also issue its rate decision, but is expected to hold rates at .5%.