Asian markets are expected to follow Wall Street rallies, where indexes once again rose to record highs. Growth was dictated by the good financial reports of US companies. Of the S&P 500 companies that have submitted their reports so far, 78% surpassed earnings per share earnings and 89% revenue expectations.
Futures on core indices of Japan, Australia, South Korea and Hong Kong are on the rise. The S&P 500 index recorded its biggest gain for more than a month, while the Dow Jones Industrial Average closed for the first time over 26,000.
During the Asian session, investors will focus on foreign investment data on Japanese stocks and bonds and labor market data in Australia. Given the strong growth in Japanese stocks, we expect foreign investment to grow. This will have a positive impact on the Nikkei 225 and will boost positivism on the island. At 02:30 we expect the Australian Labor Market data. Expectations are that the growth of new jobs will decrease to 15,000 new jobs, from 61,600 in November. Unemployment is expected to remain at the current levels of 5.4%. We expect a higher volatility in AUD, and worse data than forecast, the Australian's likelihood of decline remains high.
Jr Trader Petar Milanov
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