Today's News Update - 8th March 2024 Asia Asia-Pacific markets mostly rose following comments from U.S. Federal Reserve Chair Jerome Powell, indicating that interest rate cuts might be on the horizon if inflation signals support. Powell, addressing the Senate Banking Committee, didn't specify the timing of rate cuts but suggested they could happen soon. In Australia, the S&P/ASX 200 was on track for a third consecutive day of gains, rising by 0.62%. Japan’s Nikkei 225 traded close to the flatline, while the Topix declined by 0.33% due to weaker-than-expected January household spending. South Korea’s Kospi climbed 1.37%, and the Kosdaq was up 0.68%. Futures for Hong Kong’s Hang Seng index indicated a stronger open compared to its previous close. US S&P 500 futures were near the flatline on Thursday evening as traders awaited the release of February’s jobs report. Futures tied to the broad market index slipped by 0.06%, while Dow Jones Industrial Average futures were lower by 33 points, or 0.08%. Nasdaq 100 futures slid by about 0.3%. During the regular session, stocks climbed, with tech pushing the S&P 500 and the Nasdaq Composite to all-time highs. The broad market index gained 1% and closed at a new record, while the Nasdaq added 1.5%. Investors are looking for insights into the health of the U.S. labor market in the upcoming jobs report. Commodity Oil prices edged lower Thursday, relinquishing some of the previous session’s gains. The West Texas Intermediate contract for April lost 20 cents, or 0.25%, settling at $78.93 a barrel. Meanwhile, May Brent futures shed 21 cents, or 0.25%, closing at $82.77 a barrel. On the other hand, gold continued its record run, reaching an all-time high of $2,164.09 during Asian trading hours. Spot gold was up 0.46%, closing at $2,158.1255 per ounce, while U.S. gold futures rose 0.40% to $2,166.90. The above analysis is only for the views of market researchers and is for reference only and is not Regarded as a specific investment suggestion. #Forex #trading #tradingforex