{"id":46805,"date":"2023-06-21T04:57:00","date_gmt":"2023-06-21T03:57:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=46805"},"modified":"2023-06-21T11:22:15","modified_gmt":"2023-06-21T10:22:15","slug":"morning-brief-markets-await-powell","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/morning-brief-markets-await-powell\/","title":{"rendered":"Morning Brief – Markets Await Powell"},"content":{"rendered":"\t\t
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The market mood remained subdued during the Asian session as traders awaited a scheduled speech from Federal Reserve Jerome Powell during the US trading session.<\/p>

Stock performance was mixed as Japan\u2019s Nikkei 225<\/a> gained +0.4% and China\u2019s Shanghai Composite lost -0.2%. Hong Kong\u2019s Hang Seng<\/a> suffered the most with a -1.6% loss.<\/p>

To further highlight the mixed performance across Asia and the Pacific the South Korea\u2019s KOSPI lost around-0.4% and Australia\u2019s S&P\/ASX 200 lost -0.2%.<\/p>

In terms of China news, we saw China\u2019s Ministry of Finance announcing continued tax incentives for New Energy Vehicles in another drip of stimulus.<\/p>

Also, a note from ICYMI has come out and stated that the People’s Bank of China rate will cut rates again overnight, market the second rate cut this week.<\/p>

The USDJPY<\/a> pair had a minor move higher during the US session, despite the US dollar remaining very quiet after the US dollar index<\/a> started to flex its muscles yesterday.<\/p>

The Bank of Japan meeting minutes were also published today. The Minutes did not provide any reason to expect a reduction in easing policies any time soon.<\/p>

However, the Minutes stated that a few members said in order for CPI inflation to rise again toward 2% after decelerating, it was necessary for wage developments, firms’ growth expectations, and medium- to long-term inflation expectations to improve.<\/p>

The Minutes also noted that Members pointed out that distortions on the yield curve were dissolving,\u00a0agreed that there was no need to revise the conduct of yield curve control.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The market mood remained subdued during the Asian session as traders awaited a scheduled speech from Federal Reserve Jerome Powell during the US trading session. Stock performance was mixed as Japan\u2019s Nikkei 225 gained +0.4% and China\u2019s Shanghai Composite lost -0.2%. Hong Kong\u2019s Hang Seng suffered the most with a -1.6% loss. To further highlight […]<\/p>\n","protected":false},"author":4,"featured_media":38205,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[42,217,43,150,40,22],"yoast_head":"\nMorning Brief - Markets Await Powell - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/morning-brief-markets-await-powell\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Brief - Markets Await Powell Morning Brief - Markets Await Powell\" \/>\n<meta property=\"og:description\" content=\"The market mood remained subdued during the Asian session as traders awaited a scheduled speech from Federal Reserve Jerome Powell during the US trading session.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/morning-brief-markets-await-powell\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-21T03:57:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-21T10:22:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/12\/gettyimages-1092278424.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"406\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Morning Brief - 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