FX168 Finance Media (Asia Pacific) reported that on Monday (November 18), global stock markets generally rose, with the market focused on the highly anticipated earnings report from nvidia. Meanwhile, the statements from the governor of the bank of japan did not provide more clues about the country's interest rate hike prospects.

The MSCI Asia Pacific Index (excluding japan) rose slightly by 0.1%. The nikkei 225 index in japan fell by 1.16%, mainly due to the drag from technology stocks. #Decision Analysis#

Futures in the usa market rose, with nasdaq futures up by 0.7% and s&p 500 futures up by 0.27%. The market is highly focused on nvidia's third-quarter earnings report to be released on Wednesday.

nvidia's stock price has soared nearly 200% this year, becoming a significant driver behind the historical highs of the s&p 500 index. However, this rapid rise has increased market expectations for its performance, and if the earnings report falls short, it may trigger concerns about overvaluation in the ai sector.

The european STOXX 50 futures rose by 0.12%. The FTSE 100 futures rose by 0.14%.

The shanghai composite index slightly fell by 0.03%. The csi 300 index declined by 0.3%. The hang seng index in hong kong rose by 0.65%.

The governor of the bank of japan, ueda kazuo, reiterated on Monday that if the economy and price performance meet expectations, the central bank will continue to raise interest rates. However, he did not mention whether a rate hike could occur in December.

Subsequently, he stated at a press conference that maintaining low real interest rates for a long time could lead to excessive inflation, thereby forcing the bank of japan to raise interest rates rapidly. These comments were closely watched by investors as they may significantly impact yen exchange rates and market sentiment.

Despite the market's expectation for clearer signals, Ueda's remarks have not dispelled uncertainty. Since October, the yen has depreciated by about 7% against the dollar, briefly falling below 156 last week, marking the first time since July. The weakness of the yen has prompted traders to closely watch whether Japanese authorities might intervene. Currently, the dollar is trading against the yen at 154.40.

Regarding the possibility of a rate hike by the Bank of Japan next month, IG market analyst Tony Sycamore stated that it "will to some extent depend on the trend of the dollar/yen."

"If the dollar/yen rises to around 160, I think that will increase the chances of a rate hike," Sycamore said. "But I believe he might not be unhappy with the dollar/yen around 150 or 152. I think this may keep him from acting until next year."

"It will come, it's just a matter of time... Japan's economy is doing quite well," Sycamore said.

Trump and interest rates.

U.S. Treasury yields approached a multi-month high on Monday, with the 10-year yield stable at 4.4296%. The 2-year yield is reported at 4.2971%.

Federal funds futures indicate that the market expects a 60% chance of a 25 basis point rate cut in December, with a projected reduction of 77 basis points by the end of 2025, down from an expectation of over 100 basis points a few weeks ago.

This is mainly influenced by Federal Reserve Chairman Powell's comments last week that "interest rates may remain elevated for a long time," as well as the market's belief that Trump's policies (such as tariffs, immigration restrictions, and tax cuts supporting debt) could drive up inflation.

Macquarie's global forex and interest rate strategist Thierry Wizman stated, "With changes in immigration policy, tariff policy, and fiscal policy, Federal Reserve officials will become more cautious, as these policies can have inflationary effects, and therefore the real policy interest rates need to be maintained above other levels."

At least seven Federal Reserve officials will speak this week, and traders expect them to take a cautious stance on significant rate cuts.

The shift in the outlook for interest rates and inflation in the USA, in turn, boosts the dollar, which, together with USA Treasury bond yields, has reached new highs.

In the money market, the dollar index is close to a one-year high of 106.63. The british pound is at 1.2636 dollars, near last week's six-month low. The euro rose slightly by 0.02%, to 1.0544 dollars.

Some European Central Bank presidents will also speak this week, and considering the recent weak economic data and the risks of tariff impacts on EU trade proposed by Trump, their speeches may be more dovish.

In the commodity market, Brent crude oil futures rose slightly by 0.1%, to 71.11 dollars per barrel; US crude oil futures fell slightly by 0.04%, to 66.99 dollars.

Spot gold rose by 0.85%, to 2,585 dollars, rebounding from last week's sharp drop.