The dollar prolonged this week’s decline, and Asian stocks rose on US and European futures as investors paused on speculation. Washington is nearing a stimulus agreement. Government bonds fell.
Stocks saw modest gains in most parts of Asia, with Australian stocks outperforming. S&P 500 futures gained. Senate Majority Leader Mitch McConnell said that Congressional leaders are still talking about new aid and he thinks “We will get there.” Previously, the Federal Reserve disappointed some traders who expected changes to their bond purchase program, with 10-year Treasury yields expanding gains above 0.9%.
Elsewhere, Bitcoin topped $ 21,800 for the first time. Oil posted gains after a surprising decline in US crude stocks. New Zealand bonds fell on better than expected economic growth data.
Investors await the development of economic talks after months of stagnation amid signs that economic recovery is stalling. Legislators are rushing to get the package ready in time to be appended to major state spending laws and passed by the end of the week. The virus-related measures are expected to be nearly worth it $ 900 billion.
Meanwhile, the Fed stepped up its commitment to helping the US economy and pledged to continue its massive asset purchase program until it sees “significant further progress” on employment and inflation. Fed chairman Jerome Powell said the case for fiscal stimulus is “very, very strong” as the pandemic continues to rage.
“The 12-month outlook looks much better as we are now firmly convinced that there will be mass vaccination,” Brian Nick, chief investment strategist at Nuveen, told Bloomberg TV. “There will be no such acute health crisis as we are currently experiencing.”
The first is known on the virus front In Alaska, an allergic reaction to the Pfizer Inc. Covid-19 vaccine was reported in the US when some growls surfaced to send the shots across the country – highlighting the challenges for a historic vaccination campaign.
Here are some key events:
- Political decisions by the Bank of England and the central banks in Mexico, Switzerland and Indonesia are due on Thursday. Japan and Russia will announce decisions on Friday.
These are some of the key steps in the markets:
- The S&P 500 futures rose 0.2% from 1:25 p.m. in Tokyo. The index rose 0.2% on Wednesday.
- The Japanese Topix index gained 0.3%.
- Hang Seng rose 0.1%.
- The South Korean Kospi index fell 0.4%.
- The Australian S & P / ASX 200 Index rose 1.1%.
- The Euro Stoxx 50 futures rose 0.2%.
- The Bloomberg Dollar Spot Index fell 0.3%.
- The euro bought $ 1.2234, up 0.2%.
- The yen was at 103.26 per dollar, up 0.2%.
- The offshore yuan rose 0.1% to 6.5104 per dollar.
- The 10-year government bond yield remained at 0.92%.
- New Zealand’s 10-year yield rose six basis points to 0.94%.
- West Texas Intermediate Crude Oil rose 0.9% to $ 48.24 a barrel.
- Gold was barely changed at $ 1,866.02 an ounce.
– With the support of Rita Nazareth and Vildana Hajric