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Today's stock news - Risk appetite has been improving in the Asia-Pacific region since Thursday morning, although it has been down in Japan as traders reassess concerns about a hawkish Fed and geopolitical concerns amid a quiet session. We have summarized this news based on information from the fxstreet.com page.
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The above is also likely to be supported by slightly optimistic sentiment and could be the latest retreat in US inflation expectations and reduce fears of a recession. On the broader side, the S&P 500 shares strengthened from a monthly low to print a slight increase around 4,020, while Treasury yields were unchanged amid the Japanese holiday, followed by a decline from a three-month high the previous day. Importantly, Australia's upbeat private capital expenditure for the fourth quarter (Q4) and a slowdown in the Bank of Korea (BoK) failed to cheer traders in the Asia-Pacific region. However, recent strengthening global activity figures and comments from central bank officials, especially in the West, have raised hopes that a recession is unlikely to occur. Even if it does occur in certain parts of the world, the impact is also likely to be small in the short term. Also supporting the cautious optimism is the recent retreat in US inflation expectations. The inflation rates of the 10-year and 5-year FRED yields indicated a pullback in US inflation expectations with a pullback from multi-day peaks. It is worth noting that the latest FOMC monetary policy circular stated that all members agreed that rate hikes are needed to achieve the inflation target. The same initially triggered a risk-off mood in the market before details showed that policymakers were also discussing easing the rate hike trajectory, which in turn highlighted the weakening inflation expectations as a key focus to improve the recent mood. On the other hand, comments by US President Joe Biden were also responsible for the latest slightly optimistic sentiment as he believes that his Russian counterpart should not be allowed to use nuclear weapons by breaking international treaties. However, concerns over the role of Russia-Ukraine are not over yet, with the latest news from China and the West escalating the issue to a worse level. Reportedly, the WSJ said that the US is recently considering releasing intelligence on potential arms transfers from China to Russia. Earlier, the China-Russia relationship seemed to have escalated geopolitical woes as the US strongly criticized the move and preferred to rush to risky safety. Today’s forex news concludes with a light calendar and mixed concerns that could trouble traders, but the US PCE details for Q4, and the US Q4 GDP reading, will cheer traders’ hearts.
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