Wall Street, European Central Bank, currencies

Stocks in Asia-Pacific were set to trade higher at the Thursday open following an overnight bounce for shares stateside. Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 23,240 while its counterpart in Osaka was at 23,190. That compared against the Nikkei […]

Stocks in Asia-Pacific were set to trade higher at the Thursday open following an overnight bounce for shares stateside.

Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 23,240 while its counterpart in Osaka was at 23,190. That compared against the Nikkei 225’s last close at 23,032.54.

Shares in Australia also looked poised to see opening gains. The SPI futures contract was at 5,935.0, as compared to the S&P/ASX 200’s last close at 5,878.60.

Investor reaction to the overnight jump on Wall Street will be watched. The Dow Jones Industrial Average closed 439.58 points higher, or 1.6%, at 27,940.47.  The S&P 500 jumped 2% to 3,398.96 and the Nasdaq Composite advanced 2.7% to 11,141.56.

Later on Thursday, the European Central Bank (ECB) is expected to announce its interest rate decision as well as monetary policy statement at around 7:45 p.m. HK/SIN.

“The ECB is expected to make no policy changes and reiterate it stands ready to adjust all of its instruments, as appropriate, at its policy meeting,” Joseph Capurso, head of international economics at Commonwealth Bank of Australia, wrote in a morning note.

On the economic data front, the U.S. Labor Department’s weekly jobless claims report is also expected at about 8:30 p.m. HK/SIN. Economists surveyed by Dow Jones expect 850,000 new claims, down from last week’s 881,000.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 93.255 following an earlier slip from levels above 93.5.

The Japanese yen traded at 106.20 per dollar after weakening from levels below 105.9 against the greenback yesterday. The Australian dollar changed hands at $0.7279 following yesterday’s ascent from levels below $0.726.

Here’s a look at what’s on tap:

  • Europe: European Central Bank’s interest rate decision and monetary policy statement at 7:45 p.m. HK/SIN
  • U.S.: Labor Department’s weekly jobless claims report at 8:30 p.m. HK/SIN

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