In Asian Equity Markets Japanese stocks ended lower on Monday in volatile trade as investors awaited a meeting of the U.S. Federal Open Market Committee later this week, when domestic market will be closed for public holidays, for cues on the aggressiveness of monetary tightening. The Nikkei share average fell 0.11 percent to close at 26,818.53. The broader Topix ended 0.07 percent lower at 1,898.35, also in seesaw trade. Technology conglomerate Hitachi jumped 6.72 percent after U.S. private equity company KKR agreed to buy the company’s logistics arm in a $5.2-billion deal.
In Currency Markets the dollar held near a 20-year high on Monday as the euro struggled around the $1.05 mark, as investors prepared for a busy week of central bank meetings including a likely Federal Reserve interest rate hike. The dollar index was last 103.19, down marginally on the day. The euro traded up 0.1 percent at $1.0555. Sterling fell 0.1 percent to $1.2569, while Japan’s yen was down against the dollar at 130.16 but off recent lows. The Australian dollar shed 5.7 percent last month as fears of a recession in Europe and lockdowns in China undermined risk assets.
In US Equity Markets stocks slid on Friday to its deepest daily losses since 2020, as Amazon fell following a gloomy quarterly report, and as the biggest rise in monthly inflation since 2005 spooked investors already worried about rising interest rates. The, S&P 500 declined 3.63 percent to end the session at 4,131.93 points. The Nasdaq declined 4.17 percent to 12,334.64 points, while Dow declined 2.77 percent to 32,977.21 points. Exxon Mobil Corp lost 2.24 percent after it took a $3.4 billion writedown due to its exit from Russia. Chevron Corp fell 3.16 percent after its first-quarter profit underwhelmed.
In Commodities Markets oil prices fell on Friday, reversing in volatile trade, pulled downward by the U.S. heating oil contract that plummeted by more than 20 percent at one point on the day of its expiration. The more-active second-month Brent crude futures contract fell 12 cents to settle at $107.14 a barrel. U.S. WTI crude fell 67 cents to settle at $104.69 a barrel, as traders sold energy contracts across the board. Spot gold was up 0.9 percent at $1,911.14 per ounce. Spot silver fell 0.3 percent to $23.06 per ounce, while platinum advanced 2.5 percent to $942.36. Palladium rose 3.9 percent to $2,317.97 per ounce.
In European Equity Markets stocks rose on Friday to their highest in a week as strong earnings reports and a rally in miners boosted risk appetite at the end of a volatile month dominated by concerns about slowing global growth. The pan-European STOXX 600 index rose 0.7 percent, trimming its monthly declines to 1.2 percent. Dutch chipmaking equipment supplier BE Semiconductor lost 9.2 percent after it said its order intake in 2022 had been limited by lower demand for high-end smartphones and weakness in Chinese markets.
In Bond Markets yields of Treasuries rose slightly on Friday following data that showed monthly inflation rose by the largest amount since 2005 in March, capping the largest gain in benchmark 10-year Treasury yields since December 2009. The 10-year Treasury note yield rose 2.6 basis points to 2.889 percent. The 30-year Treasury bond yield was up 2.3 basis points at 2.952 percent. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 6.6 basis points at 2.713 percent.