Powell's dovish remarks boost rate cut expectations, Asian stock markets rise, U.S. stock futures and European stocks decline, and the dollar ends three weeks of losses
U.S. stock futures fell more than 0.1% across the board. European stocks opened lower, with the Euro Stoxx 50 index down 0.4% at the open. Asian stock markets rose, with the Nikkei 225 index closing up 0.4%. U.S. Treasury yields edged up slightly, and the U.S. dollar index rose about 0.1%. The Japanese yen fell more than 0.2%. Spot gold dropped more than 0.1% to below $3,370. U.S. oil rose slightly by 0.08% to above $63.70
Last Friday, after Powell's dovish remarks, the market bet on a 84% probability of a rate cut in September, boosting the performance of the Asia-Pacific stock markets. However, European and American stock index futures saw slight adjustments, indicating that the market is cautiously approaching this week's key events and economic data, including Nvidia's earnings report to be released on Wednesday and the U.S. July inflation data to be released on Friday.
On Monday, August 25, U.S. stock futures fell over 0.1%, European stocks opened lower, and Asian stock markets rose. The dollar slightly increased by 0.1%, ending a three-week decline, U.S. Treasury yields rose slightly, gold dipped slightly, and oil prices rose slightly. The following are the trends of core assets:
U.S. stock futures fell, with S&P 500 futures, Nasdaq 100 futures, and Dow futures all down over 0.1%.
European stocks opened lower, with the Euro Stoxx 50 index opening down 0.4%, German stocks down 0.6%, French stocks down 0.3%, and the UK stock market closed due to a holiday.
The Nikkei 225 index closed up 0.4%. The Tokyo Stock Exchange index closed up 0.1%. The Seoul Composite Index closed up 1.3%.
U.S. Treasury yields rose across the board, with both 2-year and 10-year U.S. Treasury yields rising by less than 1 basis point.
The U.S. dollar index rose by about 0.1%. The yen fell over 0.2%. The pound fell over 0.1%. The Canadian dollar, euro, and Swiss franc fell by less than 0.1%.
Spot gold fell over 0.1% to below $3,370, while spot silver rose by about 0.1%.
U.S. oil rose slightly by 0.08% to above $63.70. Brent oil rose by about 0.06% to above $67.75.
Bitcoin fell over 2.6% in 24 hours, while Ethereum fell over 3% in 24 hours.
Asian Stock Markets, Oil Prices Rise
Japanese stocks rose by 0.4%, South Korean stocks rose by 1.3%, and the Vietnamese stock market fell by 1.73%.
Brent oil rose by about 0.06% to above $67.75.
U.S. Stock Futures, European Stocks, U.S. Treasuries, Gold Decline
S&P 500 futures and Nasdaq 100 futures both fell over 0.1%.
Most European stocks declined.
Spot gold fell by about 0.1% to below $3,370.
