U.S. Monetary Policy and Immigration Impact Asian Markets
Asian stocks saw a mild uptick while the dollar remained steady as markets assessed U.S. monetary policies following a recent Federal Reserve rate cut. President Trump's new immigration charge on H-1B visas pressured tech stocks, especially impacting India's IT sector, amid strained U.S.-India trade relations.
Asian stocks edged higher on Monday and the U.S. dollar held steady as investors evaluated the Federal Reserve's monetary policy stance following last week's rate cut. Meanwhile, President Donald Trump's immigration policy, imposing a $100,000 fee for new H-1B visas, has dampened optimism in the tech sector.
Particularly impacted are Indian tech companies, a significant portion of whose revenues are derived from the U.S. The escalation arrives amid deteriorating trade relationships between the two countries, with Trump having recently doubled tariffs on Indian imports.
With more Federal Reserve talks on the horizon and key inflation data expected, market focus remains on the trajectory of U.S. interest rates and the potential impact on currency and commodity prices, including oil and gold.
(With inputs from agencies.)
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