Asia soared today after South Korea unexpectedly hiked its key interest rate to 2.25%, in a sign of confidence for Asia’s economic rebound. The Korean won hit a two-week high on the news:
China: +2.8% (CSI 300)
South Korea: +1.4% (KOSPI)
Korea Won per US Dollar: 1,213.6
Asia: +1.9% (MSCI Asia Apex 50)
Japan: +0.5% (Nikkei 225)
European markets are rising, but with a far more muted rally than in Asia. The euro, nonetheless, has broken above $1.27 again.
London: +0.1% (FTSE 100)
Paris: +0.6% (CAC 40)
Frankfurt: +0.4% (DAX)
The Euro: $1.271 (+0.04%)
Gold is struggling to break above $1,200 yet the BDI suffered yet another ugly dive:
Gold: +0.25% ($1,199)
Oil: +0.3% (Light Sweet Crude $74.94)
Dollar Index: -0.1% (DXY 83.73)
Baltic Dry Index: -3.9% (BDI 1,940)
U.S. futures are liking the news so far, pointing to a positive open. Today’s only major U.S. data point will be wholesale trade at 10 AM ET.
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