Now Reading: Asian markets rally as US rate hike bets fade
-
01
Asian markets rally as US rate hike bets fade
Asian markets rallied on Monday, tracking gains on Wall Street, as expectations of a Federal Reserve rate hike in September diminished after softer US jobs data. The nonfarm payrolls report released on…
The Story in Brief
Asian markets rallied on Monday, tracking gains on Wall Street, as expectations of a Federal Reserve rate hike in September diminished after softer US jobs data. The nonfarm payrolls report released on Friday showed fewer-than-expected new jobs, cooling bets on an aggressive tightening move by the US central bank.
US stocks ended higher last week, with the S&P 500 and Nasdaq posting gains. The focus now shifts to upcoming US inflation data and the Fed's policy meeting later this month. Indian markets are expected to open higher, taking cues from global peers.
The Indian Opinion
Global markets are in a mood to rally on any hint the Fed will slow down, but Indian investors should not mistake this for a durable trend. A single payrolls report does not end inflation worries, and the Fed has repeatedly stressed data dependence. If US CPI due next week surprises higher, the relief rally could reverse quickly. Watch the inflation print, not the headlines, before chasing gains.
Source: ndtvprofit.com
This story was synthesised by AI from the source linked above.
