Reported 6 months ago
Asian stocks are poised to break a two-week decline as major central banks initiate rate cuts, sparking expectations of the U.S. Federal Reserve following suit. The European Central Bank and Bank of Canada have already cut rates, joining others in easing monetary policy. Markets are optimistic about the Fed's potential rate cut after the recent developments. Asian shares are up, with MSCI's index indicating a 3% weekly gain, while the dollar weakens and Treasury yields fall. Traders are monitoring the U.S. nonfarm payrolls report and expectations of an imminent Fed rate cut. Gold and oil prices saw slight declines amidst the market shifts.
Source: YAHOO