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Wednesday saw Australian shares hit record highs on weaker-than-expected inflation. The S&P/ASX 200 has been on a stunning run recently.
December's job report: 216,000 new positions added, maintaining a 3.7% unemployment rate, a significant increase from November's revised 173,000.
US stocks advanced on Monday as market participants looked ahead to this week's slew of economic data and the Fed's monetary policy meeting.
ADP report: The US added 164,000 jobs in December, surpassing 130,000 expectations, signaling a robust close to the 2023 labor market.
Oil prices rose 1% after a missile hit a Trafigura tanker in the Red Sea. Russian refined exports declined due to drone attack-related refinery repairs.
Oil prices fell after a 3% gain, reaching their December high amid an improved economic outlook and Red Sea tensions disrupting global trade.
Gold dipped as US business activity rose in January and inflation eased, prompting investors to reconsider expectations for a Fed rate cut.
The core PCE price index increased 3.2% YoY in November, below the expected 3.3%. Lowest since April 2021, signaling a slowdown.
The pound hits a 4-month high vs. the euro, indicating a resilient UK economy. The BOE may delay rate cuts compared to other central banks.
Japanese shares hit a 34-year high as the yen stabilized on Tuesday. The BOJ is anticipated to adjust its ultra-loose policy in H1 2024.
Gold prices bounced from its one-month low on Thu though strong economic data strengthened the US dollar and Treasury yields put a lid on the rally.
US stocks fell as markets, overly optimistic about rate cuts, faced warnings. Treasury yields rose to the highest since mid-December.
The yen dipped below 146 against the dollar on Tuesday, suggesting easing inflation may relieve pressure on the BOJ to end monetary stimulus.
The Canadian dollar dipped vs. the USD, oil retreated, and upcoming inflation data may influence the Bank of Canada's rate choice this week.
