Today's News Update - 29th May 2024 Asia Asia-Pacific markets mostly declined on Tuesday as investors digested signals from European Central Bank officials hinting at potential rate cuts for the world’s largest economic bloc. Australia’s S&P/ASX 200 closed 0.28% lower due to weaker-than-expected retail sales growth, while Japan’s Nikkei 225 dipped 0.11% and South Korea’s Kospi ended flat. The Hang Seng index in Hong Kong remained unchanged, whereas mainland China’s CSI 300 index declined by 0.73% to 3,609.17. US On Tuesday, the Nasdaq Composite achieved a new record high, propelled by Nvidia's significant gain, amidst an otherwise subdued trading session. The Nasdaq surged by 0.59% to reach 17,019.88, surpassing the historic 17,000 milestone for the first time. Nvidia's impressive 7% increase substantially contributed to this surge. Meanwhile, the S&P 500 saw a marginal uptick of just 0.02%, closing at 5,306.04, while the Dow Jones Industrial Average experienced a 0.55% decline, ending at 38,852.86, shedding 216.73 points. Commodity Gold prices rose on Tuesday, supported by a weakened dollar, as investors eagerly awaited U.S. inflation data scheduled for later in the week to gain insight into potential interest rate adjustments. Spot gold climbed by 0.38% to $2,359.5566 per ounce, while U.S. gold futures settled 0.9% higher at $2,356.5. In parallel, U.S. crude oil experienced a nearly 3% increase on Tuesday, rebounding from last week's losses, as market attention shifted to an upcoming crucial OPEC+ meeting. OPEC+ is scheduled to convene virtually on Sunday to assess its production strategy. Several OPEC+ members continue to voluntarily withhold 2.2 million barrels per day from the market to stabilize prices. The above analysis is only for the views of market researchers and is for reference only and is not Regarded as a specific investment suggestion. #Forex #trading #tradingforex