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☆ Gold set for second weekly fall; U.S. payrolls on investors' radar
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices were poised for a second straight weekly decline, although bullion held steady on Friday as investors remained cautious ahead of the U.S. non-farm payrolls data that could provide cues on the Federal Reserve's rate cut timeline. Spot gold held its ground at $2,306.84 per ounce by 0457 GMT but lost more than 1% this week. Softer U.S. payrolls print could provide support for gold but a better report may weigh on prices, Wong added. The non-farm payrolls report is due at 1230 GMT.

Persons: Christopher Wong, Wong, Wang Tao, Fawad Organizations: Co, U.S ., Fed, City Index Locations: Bangkok, Thailand, Egypt, Israel

☆ Goldman Sachs just added — and removed — stocks on its 'conviction list' of top Asian picks
▼ + stars: | 2024-03-13 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Goldman Sachs has refreshed its "conviction list" of top picks in Asia Pacific for March, adding some key stocks and removing others. Here are two of the latest additions to Goldman Sachs' conviction list: Xero Goldman analyst Kane Hannan said he was positive on the outlook for New Zealand-headquartered accounting software company Xero . Goldman Sachs has a price target of $152 on the stock, giving it potential upside of around 12%. Hyundai Motor Another addition to Goldman's conviction list is South Korean automobile manufacturer Hyundai Motor . Meanwhile, the Wall Street bank removed Singapore-headquartered bank OCBC and Japanese conglomerate Sony from its conviction list as it no longer deems them "a top investment idea."

Persons: Goldman Sachs, Xero Goldman, Kane Hannan, Hannan, Intuit's Quickbooks, Sage, Kota Yuzawa, Yuzawa, Goldman, Michael Bloom Organizations: Asia, Hyundai, South, Hyundai Motor, Won, Sony Locations: Asia Pacific, U.S, Mar, New Zealand, Australia, South Korean, Singapore

☆ Dollar steady as sticky inflation dents rate cut expectations
▼ + stars: | 2024-02-19 | by ( ) www.cnbc.com time to read: +3 min

United States one dollar bills are curled and inspected during production at the Bureau of Engraving and Printing in Washington. The dollar was steady on Monday after data last week showing U.S. inflation remained sticky cast doubts on when the Federal Reserve would start its easing cycle, while the yen remained rooted near the psychologically key 150 per dollar level. Chandler said there appears little on the charts to deter a test to last year's low of 152 per dollar level. Several Fed officials including Christopher Waller and Raphael Bostic are also due to speak this week. The Australian dollar rose 0.29% to $0.655, while the New Zealand dollar advanced 0.34% to $0.614.

Persons: Marc Chandler, Chandler, Christopher Waller, Raphael Bostic, Christopher Wong, BOE Organizations: Engraving, Federal Reserve, of Finance, Bannockburn Global, Data, Citi, Investor, Bank of England's, New Zealand Locations: United, Washington, Bannockburn, Bannockburn Global Forex

☆ Dollar steady as traders weigh economic data, yen fragile
▼ + stars: | 2024-02-16 | by ( ) www.cnbc.com time to read: +4 min

The dollar was steady on Friday, on track for its fifth straight weekly gain, as investors take stock of economic data and firm expectations of the Federal Reserve cutting rates in June, while the yen traded at the psychologically key 150 per dollar level. But overall market expectations on the timing of the first Fed cut and magnitude of the cut will continue to drive volatility in FX markets." "We will likely soon contemplate the appropriate time for monetary policy to become less restrictive," Bostic said. Investor focus has been on comments from policymakers, with Federal Reserve Chair Jerome Powell due to give the Senate banking committee its biannual monetary policy update on March 7. The Australian dollar eased 0.20% to $0.651, while the New Zealand dollar is down 0.21% to $0.609.

Persons: Christopher Wong, Raphael Bostic, Bostic, Jerome Powell, pare, Kieran Williams, bitcoin Organizations: Federal Reserve, PPI, Federal Reserve Bank of Atlanta, Federal, Asia FX, InTouch, Markets, New Zealand Locations: Buenos Aires, Argentina, Singapore, U.S, Japan, Asia, Germany

☆ Dollar firms near 3-month high as rate cut bets dwindle
▼ + stars: | 2024-02-06 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar was perched near a three-month peak on Tuesday, buoyed by elevated Treasury yields, on growing expectations that the Federal Reserve is unlikely to cut interest rates aggressively this year. The U.S. dollar was perched near a three-month peak on Tuesday, buoyed by elevated Treasury yields, on growing expectations that the Federal Reserve is unlikely to cut interest rates aggressively this year. The string of robust U.S. economic data has quashed any lingering hopes of early and steep interest rate cuts by the Fed, with Fed Chair Jerome Powell and other policymakers also pushing back against the notion. Figures showed that the unemployment rate was likely much lower late last year than previously thought, which could push out rate cuts there, too. The Japanese yen strengthened 0.07% to 148.56 per dollar, hovering around a two-month low of 148.90 it touched on Monday.

Persons: Jerome Powell, Christopher Wong, Michele Bullock, Kristina Clifton Organizations: U.S, Federal, Investor, Reserve Bank of Australia, Investors, Reuters, Commonwealth Bank of Australia Locations: Singapore, Asia

☆ Dollar steady as traders weigh labour data, rate outlook
▼ + stars: | 2023-12-06 | by ( ) www.cnbc.com time to read: +3 min

The dollar index , which measures the U.S. currency against six rivals, was 0.019% higher at 103.99, having climbed 0.3% overnight. Data also showed there were 1.34 vacancies for every unemployed person in October, the lowest since August 2021. "This week the highlight is payrolls (report)," OCBC currency strategist Christopher Wong said, adding that a downside surprise could see dollar rebound stall. Investors believe the European Central Bank could deliver its first rate cut by March. Inflation across the euro zone has fallen more quickly than most anticipated, as evidenced by last Thursday's consumer price data.

Persons: Christopher Wong, Jerome Powell, Sterling, bitcoin, — Organizations: Reserve, Traders, ANZ, Fed, Investors, European Central Bank Locations: U.S

☆ Euro zone inflation dents euro, dollar rises from three-month low
▼ + stars: | 2023-11-30 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

A New Zealand dollar coin sits atop a United States one dollar bill in this photo illustration taken on March 11, 2016. Consumer price growth in the 20 nations that share the euro currency dropped to 2.4% in November from 2.9% in October, well below expectations for a fall to 2.7%. The euro dropped as much as 0.5% against the dollar to $1.0910. The Japanese currency has firmed almost 3% against the dollar in November and is on course for its strongest month this year. Sterling was last at $1.2646, down 0.39% on the day, while the Australian dollar fell 0.1% to $0.6610.

Persons: David Gray, Matthew Landon, disinflation, Landon, ECB policymaker Fabio Panetta, Mohamad Al, Jerome Powell, Christopher Waller, Christopher Wong, Toyoaki Nakamura, Sterling, It's, Samuel Indyk, Ankur Banerjee, Vidya Ranganathan, Kim Coghill, Miral Fahmy, Susan Fenton Organizations: New Zealand, REUTERS, European Central Bank, Morgan Private Bank, ECB, ECB policymaker, Danske Bank, Bank of Japan, Thomson Locations: States, Europe, U.S, London, Singapore

☆ Dollar drifts near three-month low, focus on inflation data
▼ + stars: | 2023-11-30 | by ( ) www.cnbc.com time to read: +3 min

The index is down 3.7% in November on growing expectations the Fed will cut interest rates in the first half of 2024. The dollar clawed back some of its losses on Wednesday after data showed the U.S. economy grew faster in the third quarter than initially reported. "Markets will continue to play to focus on what FOMC officials say about the prospect of the upcoming rate-hike cycle." Two of the best-performers are at the polar opposite ends of the "carry" spectrum — the New Zealand dollar and Japanese yen . On Thursday, yen strengthened 0.09% to 147.11 per dollar, remaining close to two and half month high of 146.675 per dollar it touched on Wednesday.

Persons: Carol Kong, Jerome Powell, Christopher Waller, Christopher Wong, Goldman Sachs, Sterling Organizations: Federal, Commonwealth Bank of Australia, New Zealand, Bank of Japan Locations: U.S

☆ Asian stocks subdued as traders brace for inflation data
▼ + stars: | 2023-11-28 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

"But I think it's not just this week's inflation indicator, it's also the December payroll numbers ... they'll be quite critical." "Our view is that the Fed will probably start cutting rates when inflation goes below the 3% mark. The weaker-than-expected data weighed on Treasury yields, with the yield on benchmark 10-year notes slipping 9.6 basis points on Monday. The dollar index , a measure of the greenback against a basket of currencies, fell to 103.07, its lowest since Aug. 31. Data showed retail sales in Australia unexpectedly slipped in October as consumers cut back on everything but food, though analysts believe many were merely saving some money to splurge on Black Friday sales that took place this month.

Persons: DAX, Vasu Menon, they'll, Menon, Dave Ramsden, Christine Lagarde, Jerome Powell, HSI, Brent, Ankur Banerjee, Sam Holmes, Kim Coghill Organizations: Federal, Investors, OCBC Bank, of England, European Central Bank, Japan's Nikkei, Treasury, New Zealand, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Singapore, U.S, Hong Kong, Australia

☆ China's first deficit in foreign investment signals West's 'de-risking' pressure
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

A view of the city skyline, ahead of the annual National People's Congress (NPC), in Shanghai, China February 24, 2022. Onshore yuan trading against the dollar also hit record-low volume in October, highlighting authorities' stepped-up efforts to curb yuan selling. Direct investment liabilities - a measure of FDI - were a deficit of $11.8 billion during the July-September period, according to preliminary data of China's balance of payments released late on Friday. That's the first quarterly shortfall since China's foreign exchange regulator began compiling the data in 1998, which could be linked to the impact of "de-risking" by Western countries from China amid growing geopolitical tensions. In September, foreign exchange outflows from China rose sharply to $75 billion, the biggest monthly figure since 2016, Goldman Sachs data showed.

Persons: Aly, That's, Tommy Xie, Xie, Goldman Sachs, Shri Navaratnam Organizations: National People's Congress, REUTERS, Rights, Greater, Greater China Research, OCBC, People's Bank of, Reuters, Shanghai, Thomson Locations: Shanghai, China, Western, Greater China, People's Bank of China

DBS, which is also Southeast Asia's largest lender, has already forecast a record full-year profit for the current year. "Net profit (for 2024) to be maintained around record 2023 level," CEO Piyush Gupta said in results presentation materials. The bank's July-September net profit rose to S$2.63 billion ($1.94 billion) from S$2.24 billion a year earlier as total income grew to a record on higher interest margins and fee income. Besides higher global interest rates, Singapore banks have benefitted from strong inflows of wealth drawn in by the city-state's political stability. Smaller peer United Overseas Bank (UOBH.SI) reported in end-October a weaker-than-expected 1% drop in third-quarter net profit.

Persons: Ann Wang, Piyush Gupta, Gupta, Yantoultra Ngui, Josie Kao Organizations: DBS, REUTERS, Bank, Q3 SINGAPORE, LSEG, United Overseas Bank, Chinese Banking Corp, Thomson Locations: Taipei, Taiwan, Singapore

☆ Piyush Gupta: Asia’s most disrupted digital banker
▼ + stars: | 2023-11-02 | by ( Anshuman Daga | ) www.reuters.com time to read: +4 min

Piyush Gupta, CEO of DBS Group (DBSM.SI) is often lauded as Asia’s top financier and has been tipped as a candidate to lead global rivals. Yet following repeated serious failures in its digital banking services, the Monetary Authority of Singapore has banned DBS from non-essential activities including M&A. It puts dividends at risk and will attract the eye of watchdogs overseas where the lender is busy expanding. On the back of record profits, Gupta earned $11.4 million last year, making him one of Asia’s highest remunerated bank CEOs. MAS will retain a multiplier of 1.8 times to DBS’ risk weighted assets for operational risk, an increase from a multiplier of 1.5 times MAS applied in February 2022.

Persons: Piyush Gupta, Ping, aren’t, OCBC’s, Peter Seah, Gupta, Breakingviews, he’s, Una Galani, Thomas Shum Organizations: Reuters, DBS Group, HK, HSBC, Monetary Authority of, DBS, MAS, Lakshmi, Bank, Monetary Authority of Singapore, Thomson Locations: SINGAPORE, Monetary Authority of Singapore, India, Taiwan, Singapore

☆ Gold softens on caution ahead of Fed's policy decision
▼ + stars: | 2023-11-01 | by ( ) www.cnbc.com time to read: +2 min

Spot gold fell 0.2% to $1,978.36 per ounce by 0351 GMT on Wednesday, while U.S. gold futures dropped 0.4% to $1,987.00. Spot gold posted a 7.3% jump in October, with prices hitting an over five-month high of $2,009.29 last week. Markets now await the outcome of the Fed's monetary policy meeting concluding later in the day, followed by the U.S. monthly jobs report on Friday. "Although no change in the interest rates is expected, the focus will be on the Fed's assessment of the U.S. economy and clues to the monetary policy going forward," said Praveen Singh, associate vice president at BNP Paribas' Sharekhan. Spot silver dropped 1% to $22.662 per ounce, platinum slipped 0.6% to $927.77, while palladium rose 0.5% to $1,120.91.

Persons: Alexander Manzyuk Gold, Christopher Wong, Praveen Singh Organizations: REUTERS, U.S, BNP Locations: Siberian, Krasnoyarsk, Russia, U.S . Federal, Gaza, U.S, China

☆ Instant View: BOJ modifies bond yield control, re-defines long-term rate cap
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +10 min

But it's also likely the BOJ have their finger on the intervention button to cap any runaway rally on USD/JPY." Nevertheless, this is working in a way to increase the volatility of the global rates market. This means it will still have a certain distance until the BOJ exit from the negative rate policy." "A yield cap isn't a yield cap if you change it every time the market gets close." The Bank of Japan could lift the negative policy rate to zero over the coming year.

Persons: Kim Kyung, KYLE RODDA, MATT SIMPSON, JPY, it's, NOMURA, They've, TONY SYCAMORE, normalisation, TAKAYUKI MIYAJIMA, ROB CARNELL, they're, JEFF NG, TOM NASH, OMORI, SHOTARO KUGO, me, IZURU KATO, MARCEL THIELIANT, today's, FREDERIC NEUMANN, CHRISTOPHER WONG, BOJ's, Sherry Jacob, Phillips Organizations: National Printing Bureau, Bank of Japan, REUTERS, Bank of, Nikkei, SAXO, SONY, ING, UBS, CHIEF, DAIWA, OF, HSBC, Global, Thomson Locations: Tokyo, Japan, Bank of Japan, MELBOURNE, BRISBANE, SINGAPORE, TOKYO, U.S, SYDNEY, ASIA, PACIFIC, CHIEF JAPAN, stagflation, OF ASIA, YCC, HONG KONG

☆ Gold jumps on safe-haven demand after Gaza hospital strike
▼ + stars: | 2023-10-18 | by ( ) www.cnbc.com time to read: +2 min

Gold prices rose to a one-month high on Wednesday, after a deadly blast in Gaza fueled fears about the regional conflict escalating and kept the safe-haven asset a favored choice against war risks. Spot gold rose 0.8% to $1,938.19 per ounce by 0501 GMT, after scaling its highest since Sept. 20 earlier in the session. "Safe-haven flows amid geopolitical tensions in the Middle East have remained the dominant catalyst for gold prices," IG market strategist Yeap Jun Rong said. Gold prices have surged about $100 since the conflict began, despite recent robust U.S. economic data boosting bets of higher-for-longer interest rates, which tends to weigh on non-yielding gold. Investors now await Federal Reserve Chair Jerome Powell's speech on Thursday for cues on interest rates.

Persons: Kelvin Wong, Yeap Jun Rong, Jerome Powell's, OCBC, Bullion Organizations: Asia Pacific, West Bank, Investors, Federal Locations: Gaza, OANDA, Gaza City

☆ Dollar drifts as investors eye Powell speech, yen wobbles near intervention zone
▼ + stars: | 2023-10-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The yen was pinned close to the key 150 per dollar level, keeping traders on edge for any signs of intervention by the Japanese authorities. The yen last fetched 149.62 per dollar, having slipped to 150.17 on Oct. 3, the weakest in a year, before getting some relief in a brief rally. The dollar index , which measures the U.S. currency against six rivals, eased 0.038% to 106.20, after dropping 0.36% on Monday. Federal Reserve Bank of Philadelphia President Patrick Harker said on Monday the central bank should not create new pressures in the economy by increasing the cost of borrowing. Christopher Wong, currency strategist at OCBC, said the dollar is likely caught in a range for now.

Persons: Dado Ruvic, Powell, Masato Kanda, Israel's shekel, Charu, Jerome Powell, Patrick Harker, Harker, Christopher Wong, Wong, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, Rights, U.S ., Swiss, Palestinian, Hamas, Saxo, Federal Reserve Bank of Philadelphia, Reserve Bank of Australia's, News Zealand, Thomson Locations: Rights SINGAPORE, East, Singapore, Australia's

☆ Singapore exports fall for 12th month in September but recovery seen
▼ + stars: | 2023-10-17 | by ( ) www.cnbc.com time to read: 1 min

Containers are loaded on the premises of the port operator PSA, the Port of Singapore Authority (PSA), at the Port of Singapore on 14 June 2022. Singapore's exports fell for a 12th straight month in September on a year-on-year basis as the trade-reliant economy grappled again with global headwinds on inflation and declining demand. Singapore's non-oil domestic exports, or NODX, fell 13.2% in September from the same month a year earlier, data on Tuesday showed, as both electronic and non-electronic exports to its top 10 markets declined. Last month's fall compared with a Reuters poll forecast of a 14.7% drop, and extended the 22.5% contraction seen in August. There were, however, some "green shoots" in some markets, said OCBC economist Selena Ling, adding that September's data suggested some stabilization.

Persons: Selena Ling Organizations: Singapore Authority, Port Locations: Port, Port of Singapore

A view of the Monetary Authority of Singapore's headquarters in Singapore June 28, 2017. In a move that surprised economists, the Monetary Authority of Singapore (MAS) said it would shift to a quarterly schedule of policy statements in 2024 from semi-annual. The MAS maintained the prevailing rate of appreciation of its currency policy band known as the Singapore dollar nominal effective exchange rate, or S$NEER. As part of the increased frequency of its policy statements, monetary policy will be reviewed in January, April, July and October instead of just April and October. Prior to April, the MAS tightened monetary policy five times in a row, including in two off-cycle moves last year.

Persons: Darren Whiteside, Chua Hak Bin, Chua, Selena Ling, Ling, Xinghui Kok, Kanupriya Kapoor, Martin Petty, Sam Holmes Organizations: Monetary Authority, REUTERS, Rights, Monetary Authority of Singapore, MAS, Singapore, Gross, Reuters, Thomson Locations: Singapore, Rights SINGAPORE

☆ Asia shares pick up after Fed rate comments; oil dips
▼ + stars: | 2023-10-10 | by ( Kane Wu | ) www.reuters.com time to read: +4 min

U.S. stocks ended higher on Monday, with energy shares rising along with oil prices. The S&P 500 energy index (.SPNY) ended up 3.5%. Oil prices eased after climbing more than 4% on Monday. "The unrest and volatility in the near-term suggest that upside risks to oil prices will persist," said OCBC economists in a note. This will lead to some volatility in oil prices during intense periods of conflict but should see prices normalize, following the knee-jerk reaction."

Persons: Androniki, Kerry Craig, Australia's, Brent, Kane Wu, Stella Qiu, Edmund Klamanhn, Kim Coghill Organizations: Nikkei, REUTERS, dovish, Top Fed, Hamas, Asset Management, Garden Holdings, HK, National Bank of Australia, U.S, West Texas, Thomson Locations: Tokyo, Japan, HONG KONG, East, Europe, U.S, Asia Pacific, China, Israel, Palestinian, Gaza, Hong Kong, Sydney

☆ Dollar stalls as dovish Fed tone dials down rate expectations
▼ + stars: | 2023-10-10 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSINGAPORE, Oct 10 (Reuters) - The dollar remained steady against major peers on Tuesday, after a pause in its rally following a slight dovish shift in Federal Reserve officials' tone. "If long-term interest rates remain elevated because of higher term premiums, there may be less need to raise the Fed funds rate," said Dallas Fed president Lorie Logan -- a notable shift from previously hawkish rhetoric. Fed Vice Chair Philip Jefferson said the central bank would need to "proceed carefully" given the recent rise in yields. "There are another 13 Fed speakers scheduled this week which could see this theme develop further," said analysts at Westpac. "The idea that the increases in bond yields have done part of the tightening job appears to be gaining traction among some Fed officials," said OCBC rates strategist Frances Cheung.

Persons: Dado Ruvic, Lorie Logan, Philip Jefferson, Frances Cheung, Ken Cheung, Tom Westbrook, Sam Holmes, Simon Cameron, Moore Organizations: REUTERS, Rights, Federal, New, East, Swiss, Palestinian, Dallas, Fed, Westpac, Columbus, People's Bank of, Thomson Locations: Rights SINGAPORE, Asia, New Zealand, Israeli, Israel, Tokyo, People's Bank of China

☆ Stocks make meandering start to quarter; yen hits near 1-year low
▼ + stars: | 2023-10-02 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The yen fell to within a whisker of 150-per-dollar and its weakness is a boon for exporters' and the pricing of their foreign earnings in yen. European futures rose 0.2%. Japanese stocks were also boosted by the Bank of Japan's quarterly Tankan survey, which showed an improvement in business sentiment. In the Treasury market 10-year yields rose 4 bps to 4.6124% and the two-year yield rose 3.7 bps to $5.0832%. Crude oil steadied after late-week fallsBrent December crude futures rose 16 cents, or 0.2%, to $92.36 a barrel.

Persons: Issei Kato, Christopher Wong, Brent, Kevin Buckland, Tom Westbrook, Edwina Gibbs, Simon Cameron, Moore Organizations: U.S, REUTERS, Rights, Japan's Nikkei, Bank, Bank of Japan, Futures, Treasury, New, . West Texas, Thomson Locations: Tokyo, Japan, U.S, India, Hong Kong, China, Asia, Pacific, New Zealand, Singapore

Thailand's central bank is seen at the Bank of Thailand in Bangkok, Thailand April 26, 2016. Despite inflation in Thailand edging up slightly to 0.88% in August, it remained below the central bank's 1-3% target range for a fourth consecutive month, suggesting little need for the Bank of Thailand (BOT) to continue hiking. A strong majority of economists in a Sept. 18-22 poll, 21 of 27, expected the BOT to keep its benchmark one-day repurchase rate (THCBIR=ECI) at 2.25% on Wednesday. None expected the central bank to raise interest rates at the following meeting in November. Median forecasts showed interest rates remaining at 2.25% through next year.

Persons: Jorge Silva, Sethaput Suthiwartnarueput, Lavanya Venkateswaran, Aris, Anant Chandak, Susobhan Sarkar, Devayani Sathyan, Jonathan Cable, Kim Coghill Organizations: Bank of, REUTERS, Bank of Thailand, Aris Dacanay, HSBC, Thomson Locations: Bank of Thailand, Bangkok, Thailand, BENGALURU, China, ASEAN

☆ Asian shares drop as investors brace for central bank-packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

U.S. West Texas Intermediate crude futures gained 0.8% to $91.52, their highest level since November, while Brent crude futures rose 0.7% to $94.55 per barrel. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.7%. This week, global central banks will take centre stage, with five of those overseeing the 10 most heavily traded currencies holding rate-setting meetings. Last Friday, Wall Street ended sharply lower as U.S. industrial labour action weighed on auto shares. The euro gained 0.1% to $1.0667, after slumping to a 3-1/2 month low of $1.0632 last week as the European Central Bank signalled its rate hikes could be over.

Persons: BOE, BOJ, Taiwan's TSMC, Hong, Tommy Xie, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Shri Navaratnam, Edwina Gibbs Organizations: Federal Reserve, Bank of Japan, Nasdaq, . West Texas, Brent, Japan's Nikkei, Technology, Reuters, Trust, Greater, Greater China Research, OCBC Bank, China Evergrande, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Thomson Locations: China, SYDNEY, Europe, Asia, Pacific, Japan, Zhongrong, Greater China, HK, Pepperstone, Tokyo

☆ Asian shares stumble as investors brace for central bank packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

S&P 500 futures advanced 0.2% while Nasdaq futures edged 0.1% higher. Also, Chinese trust firm Zhongrong International Trust Co, with exposure to Chinese property developers, said over the weekend it was unable to make payments on some trust products on time. The euro recovered 0.1% to $1.0673 in early Asia trade, after slumping to a 3-1/2 month low of $1.0629 last week as the European Central Bank signalled its rate hikes could be over. Brent crude futures rose 0.3% at $94.20 per barrel and U.S. West Texas Intermediate crude futures were up 0.4% at $91.14. Reporting by Stella Qiu; Editing by Lincoln Feast and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: BOE, BOJ, Tommy Xie, Jerome Powell, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Lincoln Organizations: SYDNEY, Federal Reserve, Bank of Japan, Nasdaq, Japan's Nikkei, China Evergrande, HK, International Trust Co, Greater, Greater China Research, OCBC Bank, U.S . Federal, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Brent, . West Texas, Thomson Locations: China, Asia, Pacific, Japan, Hong Kong, Beijing, Greater China, Tokyo

☆ China's central bank set to boost liquidity but keep policy rate steady
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Sept 14 (Reuters) - China's central bank is expected to boost liquidity while keeping the borrowing cost steady when rolling over its medium-term policy loans on Friday, a Reuters survey showed, after a string of data showed some signs of economic stabilisation. China has already lowered the medium-term policy rate twice since June to stimulate credit demand and support a faltering economic recovery. New bank lending in China beat expectations by nearly quadrupling in August from July's level, as the central bank sought to shore up economic growth amid soft demand at home and abroad. To revive broad credit demand and rescue the troubled property sector, China unexpectedly cut the MLF rate last month. For this reason alone, it seems unlikely that the PBOC will embrace large-scale rate cuts."

Persons: Frances Cheung, Julian Evans, Pritchard, Shri Navaratnam Organizations: People's Bank of China, OCBC Bank, U.S, Capital Economics, Shanghai, Thomson Locations: SHANGHAI, China, United States, OCBC Bank .

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