ECONOMY
On Monday , Asian Indices north side after surprising strong U.S. Qrt 1 economic growth boosted the S&P 500 index to a record high, but gains were capped by caution over less upbeat aspects in the GDP report which pointed to some weakening ahead. Investors were also awaiting a meeting of the U.S. Federal Reserve this week and Chinese factory data for further clues on policy direction in the world's biggest economies.
While the strong GDP data helped to ease fears of an imminent recession, investors noted that it was driven by a smaller trade deficit and a large accumulation of unsold merchandise, as consumer and business spending slowed sharply.
In contrast with weakness in Asian markets last week, Wall Street ended Friday on a high note following data showing U.S. gross domestic product grew at a faster 3.2 percent annualized rate in the first quarter.
The S&P 500 gained 0.47 percent to 2,939.88, its second record closing high for the week.
The March reading for core personal consumption expenditures (PCE), the Fed's favored inflation measure, is due later on Monday. The central bank will announce its policy decision on Wednesday, with Chairman Jerome Powell expected to balance the strong growth data against persistent concerns over the outlook for global growth.
Markets will also be looking to global factory activity surveys this week, particularly official and private readings on Chinese manufacturing which will both be released Tuesday.
While better-than-expected March data from China have helped eased fears of a sharp global slowdown, it has also touched off an intense debate over how much more stimulus Beijing can roll out without risking a rapid build-up in debt and potential asset bubbles.
CURRENCY
The dollar index, which tracks the greenback against a basket of six major rivals, inched higher to 98.033.
The euro was likewise almost unchanged at $1.1149, not far from a near two-year trough of $1.1110.
USD/JPY fell to 111.43 at the end of last week and settled in the 111.50.
US 10yr treasury yield dropped in response to US GDP details.
COMMODITY
U.S. crude dipped 0.7% at $62.86 a barrel, continuing lower after U.S. President Donald Trump on Friday pressured the Organization of the Petroleum Exporting Countries to raise crude production to ease gasoline prices.Brent crude fell to $71.6 per barrel.
Gold steadied on Monday, hovering near a more-than one week high touched in the previous session after the dollar fell as investors focused on soft U.S. inflation data that overshadowed strong GDP numbers. Spot gold was slightly lower, trading at $1,285.29 per ounce.
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