Asian Markets Rise Before US Jobs Report, Fed Comments Ease Rate-Hike Fears Asian equities moved higher on Friday as investors positioned themselves ahead of the crucial US August jobs report. The biggest shift came from Federal Reserve Governor Christopher Waller, whose comments reduced fears of an imminent US interest-rate hike and helped bonds recover, the US dollar weaken and the Japanese yen strengthen. 30-Second Market Snapshot 🇯🇵 Nikkei: +0.8% 🇨🇳 China blue chips: +1.0% 🇰🇷 Kospi: +1.1% 🌏 MSCI Asia ex-Japan: +1.0% 💵 US Dollar Index: 98.96 🇯🇵 USD/JPY: around 155.7 🥇 Gold: around US$4,470/oz 🛢️ Brent crude: around US$95.52/barrel 🇺🇸 US 2-Year Treasury Yield: 4.34% 🇺🇸 US 10-Year Treasury Yield: 4.76% Big Story Today Markets are becoming slightly less convinced that the Federal Reserve will raise interest rates in September. Fed Governor Christopher W...
Key Takeaways Bitcoin fell to its lowest level in 21 months , pressured by expectations of higher US interest rates and persistent ETF outflows. More than US$4 billion exited US-listed Bitcoin ETFs in June , highlighting weakening institutional demand. Concerns over Strategy's future Bitcoin purchases have undermined confidence in one of the cryptocurrency's largest corporate supporters. Bitcoin has dropped over 50% from its record high and fallen below its 200-week moving average, reinforcing bearish technical sentiment. This week's US nonfarm payrolls report could become the next major catalyst for cryptocurrency markets. Market Overview Bitcoin extended its sharp decline on Wednesday, falling to US$57,742 , its lowest level since September 2024, as investors continued to reduce exposure to risk assets amid growing expectations that the US Federal Reserve will keep monetary policy tighter for longer. The cryptocurrency has struggled under the ...