Japan posts worst trade deficit ever; Asia markets rise as U.S. retail sales jump
Publishing timestamp: 2023-02-15 20:57:24
Summary
Asia Pacific markets traded higher on Thursday as investors digested Japan's record trade deficit of 3.5 trillion yen ($26 billion) and stronger than expected U.S. retail sales report from Wall Street. Australia's unemployment rate for January increased 0.2 percentage points from December 2022 to 3.7%, higher than economists expectations that it would remain flat at 3.5%. Prices of Bitcoin and Ethereum rose on Thursday, with Bitcoin rising 11.28% in past 24 hours to $24637.75 and Ethereum gaining 8.76% in past 24 hours to $1685.13. JPMorgan's Marko Kolanovic thinks investors are playing with fire, as stocks continue rising despite Federal Reserve tightening monetary policy. The U.S. Treasury will exhaust its emergency measures to prevent debt default sometime between July and September unless Congress raises $31.4 trillion debt limit.
Sentiment: MIXED
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