Asia open: Ahead of FOMC, investors ride the hi-tech AI sugar rush

==========

Asian markets are optimistic following Friday's tech-driven rally on Wall Street. The Japanese yen reached a new 34-year low of 158.40 per dollar after the Bank of Japan's decision to keep interest rates unchanged. Global equity markets received a boost from strong corporate earnings, fueled by optimistic forecasts for Alphabet and Microsoft. The Fed's preferred inflation metric, the March personal consumption expenditures price index, showed a 2.8% year-over-year increase. Real consumer spending remained robust in March, but real disposable personal income growth has slowed and the personal savings rate has dropped to 3.2%. The Fed Beige Book highlighted weak consumer discretionary spending and increasing price sensitivity among consumers. More U.S. borrowers are struggling to keep up with credit card and motor vehicle payments. The FOMC meeting is anticipated with a more restrained approach. The USD has struggled to sustain its upward trajectory against most G10 currencies. Crude oil prices have eased, but remain volatile due to uncertainty surrounding global oil demand growth and OPEC+'s future production strategy. The Reserve Bank of Australia's hawkish stance has bolstered AUD/USD. EUR/USD trades on a stronger note. Gold price trades on a softer note. Ethereum fees have dropped to the lowest level since October. The week ahead includes the Fed meeting, US jobs report, Eurozone flash GDP and CPI numbers.

#AsianMarkets #TechdrivenRally #JapaneseYen #InterestRates #CorporateEarnings #Inflation #ConsumerSpending #CreditCardDebt #MotorVehiclePayments #FomcMeeting #Usd #CrudeOilPrices #Aud/usd #Eur/usd #GoldPrice #EthereumFees #FedMeeting #UsJobsReport #EurozoneGdp #EurozoneCpi