US tech stocks climbed yet again in trading yesterday to claim further record highs, the S&P and the Nasdaq closing at all-time highs for the fourth successive session. PPI data came in lower than expected and yields dropped whilst the dollar defied both to rise again. Oil prices remained stable, and Gold dropped again in line with the stronger greenback.
The risk event’s main focus for the day will be the big Bank of Japan meeting conclusion with the rate call set to come out around lunchtime in Tokyo. No rate change is firmly expected but investors are looking for signs of movement in the bank’s bond buying plans and FX traders are expecting to see plenty of volatility in the Yen around the event.
| Market | Change | Close |
| Dow | -0.17% | 38,647 |
| S&P | +0.23% | 5,433 |
| Nasdaq | +0.34% | 17,667 |
| USD | +0.49% | 105.20 |
| US Treasury – 2 Year | -5.3 bps | 4.697% |
| US Treasury – 10 Year | -4.3 bps | 4.252% |
| Oil – Brent | +0.2% | $82.75 |
| Oil – WTI | +0.2% | $78.62 |
| Gold | -0.9% | $2,302 |
Today’s Events:
Asian Session
- No set time – Bank of Japan Rate Decision and Statement
- No set time – Bank of Japan Press Conference
US Session
- 12.00 am – US Preliminary University of Michigan Consumer Sentiment Data
- 12.00 am – US Preliminary University of Michigan Inflation Expectations
- 3.30 am – ECB President Christine LaGarde Speaks
