Investing.com - Asian-Pacific markets appear set to begin Friday's session with modest gains, following a negative session among Us indices overnight as investors curbed rate cut speculations as Fed Chief Jerome Powell noted that current interest rates might not be restrictive enough..
As of 9:00 am AEDT (10:00 pm GMT), ASX 200 futures were up by 0.2%. This occurred after an earlier surge of over 20 points. Concurrently, the Australian dollar also saw a fall below US64¢.
The 10-year note yield in the US observed a sudden surge of 14 basis points, hitting 4.63% at 4.15 pm. The 30-year yield, on the other hand, experienced a record increase of 22 basis points, finally settling at 4.77%.
The RBA's Monetary Policy Statement, set to release at 11.30 am on Friday, is a key event Australian investors are keenly awaiting.
Iron ore lifted overnight. Prospects for the steel-making material are seemingly brighter due to increasing hopes of China's steady, although slower-paced efforts in reinvigorating the real estate sector.
Investor attention is focused on the upcoming earnings releases from News Corp (ASX:NWS) and Light & Wonder Inc (ASX:LNW), as well as the sales data set to be reported by Rea Group Ltd (ASX:REA) and Jupiter Mines Ltd (ASX:JMS). Several firms including KMD Brands Ltd (ASX:KMD), Lithium Power International Ltd (ASX:LPI), Kelly Partners Group Holdings (ASX:KPG), and NIB Holdings (ASX:NHF) are all queued to hold their yearly meetings on Friday.
Janus Henderson Group (ASX:JHG) is expected to trade ex-dividend today.
An ongoing debate around the prospects for US interest rates continues to shake market stability. Powell's comments during an IMF panel held overnight emphasized that although US inflation has seen some decrease over the past year, it remains well above the 2% target. He further added that there is significant work to be done in establishing a sustainable inflation rate of 2%.