World Stocks & Asia-Pacific Markets – Wall Street CPI Rally Reversal

The Dow Jones, S&P 500 and Nasdaq are cheering as the US November CPI data report has been released. Overall, the data was lower. Inflation came in at 7.1% YoY against the 7.3% anticipated. This was because the core measure that strips out food and energy prices soared past cable at 6.0% against the consensus of 6.1%. However, within hours, Wall Street gave up almost all its gains.

Based on the inflation data chart information, Treasury yields reacted in tandem with the Dow Jones. There is an interesting data that the 2-year front-end yield suffered more than the longer-term 10-year yield. In this case, it means that the inversion of the Treasury yield curve has narrowed slightly. Looking at the Fed's rate hikes over the next three years, it can be concluded that after the CPI report, the market slightly increased its near-term dovish expectations. However, in the longer term or in terms of three years from now, the Fed's interest rate outlook has not changed. This can be hinted at by the pivot coming sooner which is a price that has been increasingly being priced in by traders over the past few months.

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If the pivot recovery comes faster, the recovery after the pivot will also be faster. In other words, the market is probably focused on the long term right now. The faster the pivot comes, the faster the next tightening cycle will start as central banks will try to stimulate inflation in the future. Keep in mind that the market is looking to the future.

Wednesday Trading Session Asia-Pacific Market – Watch Out for Risk Appetite

With that in mind, it remains to be seen how much Asia-Pacific markets can find positive direction from the follow-up inflation report. Futures tracking the Dow Jones global stock market were little changed, early data showed. The economic calendar is light today. With that in mind, it will leave the Nikkei225 and ASX200 in anticipation of the FOMC interest rate decision due on Wednesday.

Dow Jones World Stock Exchange Technical Analysis

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Dow Jones futures have left a shooting star on today’s chart. This is because the index is struggling to break through the 34246 – 34707 resistance zone. While this is not necessarily a warning of a reversal, the follow-through downside is opening the door to that prospect. The immediate support used is the 20-day simple moving average.

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Above is daily information about the development of the world stock exchange. Continue to update the latest information through the GIC journal which will be announced every day. You can also trade Forex and Commodities on the GICTrade application with its latest feature, an ECN account, enjoy the advantages of the latest features with the lowest spread starting from 0 Rupiah!