Global Factors influencing ASX stocks on 30 January 2023

On 30 January 2023, at AEDT 01:25 PM, the benchmark index S&P/ASX 200 is trading lower today, declined 5.40 points or 0.07%, and is currently trading at 7,488.40 levels. Out of 11 sectors, 6 sectors are trading higher despite declined in the S&P/ASX 200. The Consumer Staples and Materials are the top 2 declining sectors, declining 0.86% and 0.40% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Marginally Lower By 0.05%; Dragged Down By Materials and Consumer Staples Sectors

On that note, let us look at a few global reasons impacting the stock market today.

1. key U.S. indices ended higher in their previous session. NASDAQ Composite, NASDAQ-100, Dow industrial, and S&P 500 by 0.95%, %, 0.96%, 0.08% and 0.25%, respectively.
2. Asian stocks began cautiously that would almost certainly see interest rates rise in Europe and the United States, as well as statistics on employment and wages in the United States that will affect how far they have to go.
3. Gold prices remained in a narrow range today as traders braced for a Federal Reserve meeting this week, with a focus on any indications of slowing global economic growth.
4. The dollar gained today ahead of central bank meetings this week, with traders looking for guidance for the path of interest rate rises.
5. The Australian dollar strengthens on Monday amid optimism about China’s reopening of its economy and the prospect of a higher RBA cash rate.
6. Hang Seng is down by 0.94%, and FTSE 100 is up by 0.05%.

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