Stock Markets Daily Recap: NVIDIA and Adobe Rally as Focus Turns to China

From FX Empire: 2024-06-16 19:09:00

Investor focus is on the Fed rate path, US economic outlook, and Chinese economy. Recent US economic indicators hint at a September rate cut, but early cracks show in consumer confidence. Chinese economic recovery may face challenges amidst a possible trade war with the EU.

Economic data from China takes spotlight with industrial production, retail sales, and unemployment figures. We expect a 6.0% rise in industrial production and a 3.0% advance in retail sales year-on-year for May. PBoC will announce 1-year MLF rate, likely to remain at 2.5%.

Gold rallies while WTI crude oil and iron ore-spot decline on Friday. Commodity trends impact ASX 200, but China’s economic indicators have a greater influence. USD/JPY gains, reaching 157.375, potentially boosting buyer demand for Nikkei-listed export stocks. Check our economic calendar for upcoming events.



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