Asian markets may go up due to positive trends in US futures and since US markets were closed for Memorial Day. President Biden is confident about the debt ceiling deal’s approval. He also said additional defence funding could be arranged if needed. A debt agreement hearing is scheduled for today, with a full vote set for tomorrow. Small gains in US equity futures are being driven by hopes that the debt deal can prevent a default in June.
Traders are closely watching US debt ceiling talks due to speculative betting around the potential default day, now set for June 5th, as per Treasury Secretary Yellen. As we approach the end of June and the quarter, traders are also preparing for key data from the US, Europe, and China and central bank decisions that could determine market trends for the rest of the year.
