Asian stocks rise with the rise of US indices and the dollar’s decline and Brent is at $107.37 per barrel
On Thursday morning, oil prices rose on data on declining US energy supplies,
while the US dollar fell to its lowest level against the yen as Asian stocks and
US indices rose on the back of the Federal Reserve’s decision.
topıc
Brent price rises to $107.37 per barrel
Asian stock markets are rising
US indices rise due to Fed decision
The dollar declines to a three-week low against the yen
Brent price rises to $107.37 per barrel
The US Department of Energy reported that the country’s oil inventories fell last week by 4.52 million barrels,
gasoline by 3.3 million barrels and distillates by 784 thousand barrels.
Analysts expected oil inventories to fall by 1.5 million barrels,
gasoline by 1 million barrels and distillates by 500 thousand barrels.
By Thursday morning, September Brent crude futures rose by $0.75, or 0.7 percent on the London Futures Exchange,
to $107.37 per barrel.
WTI futures prices for September at this time in electronic trading on the New York Mercantile Exchange
(NYMEX) rose by $0.98, or 1.01 percent to $98.24 per barrel.
US oil production rose by 200 thousand barrels per day (BPD) last week to 12.1 million BPD,
exports increased by 21 percent, reaching a record 4.55 million BPD,
and imports fell by 5 percent, reaching 6.14 million BPD.
Analysts say a decline in imports and increased exports led to a sharp decline in US oil inventories,
and a decline in gasoline and distillate inventories showed demand for motor fuel rose last week.
Asian stock markets are rising
Most stock markets in the Asia-Pacific region rebounded on Thursday,
with the exception of the Hong Kong index,
as investors assess the results of the US Federal Reserve meeting.
The Fed raised interest rates by 75 basis points, as expected, to 2.25 – 2.5 percent,
and stressed that it expected further tightening of monetary policy.
The regulator’s management noted weak production and
spending indices in the US economy while noting strong growth in the number of jobs in recent months
while maintaining low unemployment rates.
Hong Kong’s Hang Singh index fell by 0.6 percent at 8:10 a.m. GMT,
while the Shanghai Composite Index rose by 0.6 percent.
In Hong Kong, construction and development stocks are the lowest due to the ongoing crisis in the country’s real estate sector.
Japan’s Nikkei 225 index rose by 0.26 percent by 8:15 GMT.
South Korea’s Kospi Index rose by 0.8 percent during Thursday morning trading,
and Australia’s S & P/ASX Index 200 rose by 1 percent.
artıcal name Asian stocks rise with the rise of US indices
US indices rise due to Fed decision
US stock indices ended trading on Wednesday with active growth,
and investors assessed large corporate reports
and the results of the July meeting of the Federal Reserve System (FRS).
The regulator’s management noted weak production and spending indices in the US economy
while noting strong growth in the number of jobs in recent months
while maintaining low unemployment rates.
Markets then accelerated growth,
responding positively to Fed Chairman Jerome Powell’s speech.
“The central bank does not rule out a stronger rate hike in the future,
if the data received is favorable,” Powell said during the press conference.
In the meantime, he provided an optimistic assessment of the US economy’s situation,
noting that it was not in recession,
*and there were reasons to expect a strong performance in the year’s second half.
Texas Instruments market value increased by 6.7 percent and the semiconductor component developer
and manufacturer increased its fourth-quarter net profit by 19 percent,
urging revenue estimated at 14 percent.
The Dow Jones Industrial Index rose by 1.37 percent to 32197.59 points,
the S&P 500 rose by 2.62 percent, to 4023.61,
while the Nasdaq Composite jumped by 4.06 percent to 12032.42.
artıcal name Asian stocks rise with the rise of US indices
The dollar declines to a three-week low against the yen
On Thursday, the dollar fell to a three-week low against
the yen after Federal Reserve Chairman Jerome Powell eased investors’
concerns about continued monetary tightening.
The greenback fell to a low of 135.105 yen,
its weakest since July 6 after the Fed raised its benchmark interest rate by 75 basis points
as expected to near neutrality,
noting that although the labor market remains strong,
other economic indices have eased.
In its most recent trading, the dollar fell by 0.8 percent to 135.525 yen.
The two-year Treasury yield, which is particularly sensitive to policy expectations,
fell near this week’s low of 2.9979 percent,
remaining about 20 basis points above the 10-year yield
and widely seen as a sign of an imminent decline.
The United States dollar index,
which measures the greenback against six counterparts,
including the Japanese yen, fell by 0.05 percent,
declining to 106.31 after falling by 0.59 percent overnight.
The euro, the index’s most weighted currency,
was little changed at $1.02045, after rising by 0.82 percent overnight.
Sterling rose by 0.05 percent to $1.21640 after rising by 1.06 percent on Wednesday.
artıcal name Asian stocks rise with the rise of US indices