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The New Zealand dollar was last up 1.1% at a four-month high of $0.6207, having blown past resistance. The U.S. dollar, meanwhile, slid to fresh multi-month lows on the euro, yen, sterling, the Australian dollar, yuan and Swiss franc. Overnight Fed Governor Christopher Waller - an influential and previously hawkish voice at the U.S. central bank - told the American Enterprise Institute that rate cuts could begin in a matter of months, provided inflation keeps falling. Fed funds futures rallied on the remark to price more than hundred basis points of cuts in 2024 and 40% chance they begin as soon as March. Two-year Treasury yields fell sharply and along with the dollar fell further still in Asia.

Persons: Christopher Waller, Governor Waller's, Tapas Strickland, Jerome Powell, Waller, CONDITIONALITY Waller's, Seng, Vishnu Varathan, Simon Cameron, Moore Organizations: New Zealand, Nikkei, U.S ., Swiss, U.S, American Enterprise Institute, Governor, National Australia Bank, Fed, HK, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Hong Kong, Sydney, China, Meituan, Zealand, Singapore

Powell's remarks on Thursday that the fight to restore price stability "had a long way to go" at first roiled markets. "If we were to get a low CPI next week, yields can come down around that number and we may get some weakening in the dollar." MSCI's gauge of global equity performance (.MIWD00000PUS) gained 0.54%, while stocks on Wall Street surged 1% or more. U.S. Treasury yields rose sharply on Thursday after a very weak 30-year bond auction. U.S. crude rose $1.43 to settle at $77.17 a barrel, while Brent settled up $1.42 at $81.43 a barrel.

Persons: Kim Kyung, Jerome Powell, Michael James, Thierry Wizman, Wizman, Mullarkey, Tapas Strickland, Brent, Nell Mackenzie, Dhara Ranasignhe, Tomasz Janowski, Richard Chang Organizations: Tokyo Stock Exchange, REUTERS, Wall, Federal, Wedbush Securities, Fed, FX, Dow Jones, Nasdaq, U.S, Treasury, SLC Management, Reuters, NAB, New, Thomson Locations: Tokyo, Japan, Los Angeles, Macquarie, New York, Europe, Boston, China, Beijing, New Zealand, London

"If we were to get a low CPI next week, yields can come down around that number and we may get some weakening in the dollar," Wizman said. The two-year Treasury yield, which reflects interest rate expectations, fell 0.2 basis points to 5.020%, while the benchmark 10-year yield was down 3.2 basis points at 4.598%. Traders would be keeping a close watch on interest rate volatility, said Schneller, noting major market fluctuations recently. "A primary cause for this volatility is the debate over whether the current Fed funds rate is overly high or insufficient." In currency markets, the dollar index rose 0.019% to 105.91, with the euro up 0.04% to $1.067.

Persons: Kim Kyung, Powell, Jerome Powell, Thierry Wizman, Wizman, Powell's, Bruno Schneller, Schneller, Tapas Strickland, Brent, Nell Mackenzie, Dhara Ranasignhe, Tomasz Janowski, Richard Chang Organizations: Tokyo Stock Exchange, REUTERS, Global, International Monetary Fund, Fed, FX, Dow Jones, Nasdaq, Treasury, INVICO Asset Management, Reuters Graphics U.S, NAB, New, Thomson Locations: Tokyo, Japan, Macquarie, New York, China, Beijing, New Zealand, London

☆ Asia stocks slide as Powell comments quell rate peak bets
▼ + stars: | 2023-11-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The sombre mood is set to continue as Europe wakes up, with futures indicating a steeply lower open. Eurostoxx 50 futures were down 0.73%, German DAX futures dropped 0.66% and FTSE futures were 0.78% lower. The Fed is "committed to ... monetary policy that is sufficiently restrictive to bring inflation down to 2% over time," Powell said at an International Monetary Fund event. U.S. rate futures have priced in about 60% chance of a rate cut at the Fed's June 2024 meeting, according to the CME's FedWatch tool, compared to odds of about 70% before Powell's speech. The oil market has been reeling this week on demand concerns, with a fading war-risk premium triggering a sell-off.

Persons: Kim Kyung, Powell, Jerome Powell, DAX, Rob Carnell, Powell's, ING's Carnell, there's, Hong, Tapas Strickland, Brent, Ankur Banerjee, Tom Hogue Organizations: Tokyo Stock Exchange, REUTERS, Fed, . Federal, International Monetary Fund, ING, Investors, Reuters, Nasdaq, NAB, New, Thomson Locations: Tokyo, Japan, EUROPE, SINGAPORE, U.S, Asia, Pacific, Europe, Beijing, New Zealand, Singapore

☆ Asian stocks slide as hawkish Powell comments weigh
▼ + stars: | 2023-11-10 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

A man works at the Tokyo Stock Exchange after market opens in Tokyo, Japan October 2, 2020. U.S. Federal Reserve officials including Powell said on Thursday they are still not sure interest rates are high enough to finish the battle with inflation. The yield on 10-year Treasury notes eased 1 basis point to 4.620% in Asian hours, having risen 10.7 bps overnight. In the currency market, the dollar index held on to its overnight gains and was last at 105.87. The oil market has been reeling this week on demand concerns, with a fading war-risk premium triggering a sell-off.

Persons: Kim Kyung, Jerome Powell, Powell, Rob Carnell, Carnell, there's, Hong, Tapas Strickland, Brent, Ankur Banerjee, Tom Hogue Organizations: Tokyo Stock Exchange, REUTERS, Rights, Fed, Japan's Nikkei, . Federal, International Monetary Fund, ING, Investors, Nasdaq, NAB, Treasury, New, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, U.S, Asia, Pacific, China, Beijing, New Zealand, Singapore

☆ Dollar eases as traders bet Fed done with rate hikes
▼ + stars: | 2023-11-03 | 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 index is on course to clock a 0.3% drop for the week, just its third week of losses since July. The European Central Bank last week snapped a streak of 10 straight rate increases, with the discussion shifting to how long the rates would stay high. The Japanese yen was 150.41 per dollar, keeping traders nervy and looking for signs of intervention from Japanese authorities. The Australian dollar eased 0.19% to $0.642, while the New Zealand dollar fell 0.24% to $0.588.

Persons: Tapas Strickland, Flavio Carpenzano, Isabel Schnabel, Kazuo Ueda, Sterling Organizations: Engraving, U.S . Federal, NAB, Investor, Analysts, Fed, ECB, Investment, Capital Group, European Central Bank, Bank of Japan, Reuters, Bank of England, New Zealand Locations: United, Washington, U.S

☆ Asia stocks split as US-China outlooks diverge
▼ + stars: | 2023-07-19 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Overnight the S&P 500 (.SPX) rose 0.7% to hit a three-month high, with results propelling bank shares. Morgan Stanley (MS.N), Bank of America (BAC.N) and Bank of New York Mellon (BK.N) shares rose sharply on strong results and an upbeat outlook overnight. Microsoft (MSFT.O) shares rose 4% - adding $100 billion in market value - after announcing charges for artificial intelligence features in its office software. British inflation data due at 0600 GMT is the next major calendar item and traders are expecting a fall to a still-uncomfortable 8.2% annual pace. "While annual headline inflation fell sharply, which is helpful for inflation expectations, the details suggest persistence in non-tradables inflation."

Persons: Seng, SYDNEY, Dovish, Tapas Strickland, Morgan Stanley, Klaas Knot, Brian Daingerfield, Treasuries, Brent, Lincoln Organizations: Companies, Microsoft, U.S, European Central Bank, New Zealand, Japan's Nikkei, Headline U.S, National Australia Bank, Bank of America, Bank of New York Mellon, NatWest Markets, Bank of, Fed, ECB, ANZ, Thomson Locations: China, Japan, Australia, Asia, Pacific, Hong Kong, South Korea, Sydney, Atlanta, U.S, Europe, New York, New Zealand, Bank of England

☆ Stocks and bonds reflect fears of Powell embracing his inner hawk
▼ + stars: | 2023-06-21 | by ( Lawrence White | ) www.reuters.com time to read: +5 min

Housebuilders (.FTNMX402020) declined 3% at one point as the prospect of more rate increases raised fresh concerns about mortgage costs. The U.S. dollar was firmer ahead of Powell's congressional testimony, with the dollar index up 0.1% at 102.62. Minutes of the central bank's last meeting showed only one of nine board members suggested reconsidering its policy of keeping bond yields low, and even then suggested it was best to wait a while. Rising interest rates and higher bond yields have been a burden for gold, which was pinned at $1,934 an ounce , just above last week's three-month low of $1,924.99. The Brent benchmark edged down 4 cents to $75.86 a barrel while U.S. crude lost 3 cents to $71.16.

Persons: Toby, Powell, Jerome Powell, Tapas Strickland, Jerry del Missier, doggedly, Lawrence White, Wayne Cole, Jacqueline Wong, Lincoln, Alex Richardson, David Goodman Organizations: London Stock Exchange Group, REUTERS, . Federal, NAB, Nasdaq, Copper, BRITAIN Investors ramped, Bank of, U.S, Bank of Japan, Thomson Locations: City, London, Britain, Beijing, Asia, Pacific, Japan, Bank of England

☆ Asia stocks slip as suspense builds for China, Fed news
▼ + stars: | 2023-06-21 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

The uncertainty kept S&P 500 futures and Nasdaq futures flat after a slight dip overnight. EUROSTOXX 50 futures edged up 0.2% and FTSE futures 0.1%. A survey showed morale at big Japanese manufacturers edged up in June to stay in positive territory for a second straight month. The currency has been falling for weeks as the Bank of Japan (BOJ) doggedly defended its super easy policies. Oil prices edged higher after a couple of sessions of losses, still struggling with concerns about Chinese demand absent a sizable stimulus package.

Persons: Powell, Jerome Powell, Tapas Strickland, doggedly, BoE, Brent, Wayne Cole, Jacqueline Wong Organizations: SYDNEY, Federal, NAB, Nasdaq, South, Japan's Nikkei, Bank of Japan, Bank of England, JPMorgan, Thomson Locations: Asia, Beijing, Pacific, Japan, South Korea

☆ Australia cenbank warns of more hikes ahead after raising rates to 11-yr high
▼ + stars: | 2023-06-06 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

"The omission of this sentence reads hawkish in our view and may spell further rate hikes ahead from the RBA." Adam Boyton, head of Australian economics at ANZ, expects the RBA to raise interest rates by another quarter-point in August. In the policy statement, Lowe said the latest rate increase will "provide greater confidence that inflation will return to target within a reasonable timeframe." The RBA has increased interest rates by a whopping 400 basis points since May last year, the most aggressive tightening cycle in its modern history. "As the RBA takes rates higher, the risk of a greater slowing in the economy is rising," said Tapas Strickland, head of market economics at NAB.

Persons: Prashant Newnaha, Adam Boyton, Lowe, Tapas Strickland, Stella Qiu, Shri Navaratnam Organizations: SYDNEY, Reserve Bank of Australia, Securities, Australian, ANZ, Graphics Global, Federal, NAB, Thomson Locations: Asia, Australia

☆ Asia stocks off to slow start in earnings-rich week
▼ + stars: | 2023-04-24 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) eased 0.1%, while Japan's Nikkei (.N225) nudged up 0.2%. S&P 500 futures and Nasdaq futures both eased 0.2% ahead of a busy week of earnings. The U.S. House of Representatives could this week vote on a Republican plan to raise the debt ceiling in exchange for spending cuts. Figures on U.S. wages and economic growth due this week will likely reinforce the case for further tightening. Oil prices also lost ground last week, though planned production cuts from OPEC offer some support.

☆ Recession fears set stocks on course for weekly drop
▼ + stars: | 2023-04-21 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Overnight figures showed more Americans filing claims for jobless benefits and manufacturing activity in the mid-Atlantic region slumping to its lowest level in nearly three years. Leading Economic Index, a gauge of future economic activity, also dropped to its lowest level since November 2020 overnight and it is signalling a recession starting mid-2023. Tesla (TSLA.O) shares tumbled 9.7% after the electric vehicle maker posted its lowest quarterly gross margin in two years. The yen hovered at 134.11 to the dollar, though the New Zealand dollar nursed losses at $0.6162 after Thursday's softer-than-expected inflation data. In the oil market, at $80.79 a barrel, Brent is also below its 50-day moving average for the first time since oil producers unexpectedly announced extra production cuts two weeks ago.

☆ Asia shares skid as rate-hike fears unnerve investors
▼ + stars: | 2023-02-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Tracking Wall Street, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.68% lower and was set for its third straight week of losses. China shares (.SSEC) slipped 0.18% while Hong Kong's Hang Seng Index (.HSI) fell 0.09%. "The latest data supports the Fed view of needing to continue to raise rates and hold them there higher for longer." The market is now pricing U.S. interest rates to peak at 5.28% in July and remain above 5% till the end of the year. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 4.2 basis points at 4.661%.

☆ Dollar on the front foot after robust U.S. jobs data, yen falters
▼ + stars: | 2023-02-06 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The yen weakened to a three-week low of 132.60 per dollar after the report, and was last fetching 132.35, down 0.88%. Tapas Strickland, head of market economics at National Australia Bank, said Amamiya dovish policy credentials are raising uncertainty about BOJ's eventual exit from its ultra-easy monetary stance. The BOJ's loose policy settings have attracted increasing criticism from many quarters, including opposition politicians and traders, for distorting market function. But he also said in July the BOJ must "always" think about the means of exiting ultra-loose monetary policy. On Friday, the U.S. Labor Department's closely watched employment report showed that nonfarm payrolls surged by 517,000 jobs last month.

☆ Recessions risks knock stocks, speculators drawn back to yen
▼ + stars: | 2023-01-19 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The Nikkei dip and the bounce for the yen suggest such speculation is here to stay, at least for now. April was another possibility, she added, since by then the BOJ would have a new governor. "My guess would be that more speculators would look to build positions going into these meetings." Microsoft's announcement of 10,000 layoffs and hawkish comments from Cleveland Fed President Loretta Mester and St. Louis Fed President James Bullard added to the gloom, with both Fed officials expecting U.S. interest rates above 5% this year. The Australian dollar was last down 0.5% at $0.6907, losing ground after data showed an unexpected fall in Australian employment last month.

☆ U.S. stocks slip as China sticks to pandemic policy
▼ + stars: | 2022-11-07 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

"With China going into winter, most analysts think a change in zero-COVID is unlikely until at least March." A little of that reversed on Monday, with the Aussie down 0.4% at $0.6440 after jumping 3% on Friday. The dollar was just a shade former on the yen at 146.77 yen , while the euro eased a fraction to $0.9944 . Markets are now waiting on Chinese trade data due later in the session for a guide on global demand. Oil futures lost some of their gains with Brent off $1.66 at $96.91, while U.S. crude dropped $1.85 to $90.76 per barrel.

☆ Asia stocks resilient as Wall Street slips, China trade disappoints
▼ + stars: | 2022-11-07 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

"With China going into winter, most analysts think a change in zero-COVID is unlikely until at least March." A little of that reversed on Monday, with the Aussie down 0.7% at $0.6421 after jumping 3% on Friday. S&P 500 futures dipped 0.2%, while Nasdaq futures lost 0.3%. EUROSTOXX 50 futures lost 0.2% and FTSE futures 0.6% amid reports the UK government was planning tax rises and spending cuts. Oil futures lost some of their recent gains with Brent off $1.07 at $97.50, while U.S. crude dropped $1.26 to $91.35 per barrel.

☆ U.S. stocks dip, dollar up as China sticks to pandemic policy
▼ + stars: | 2022-11-06 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

"With China going into winter, most analysts think a change in zero-COVID is unlikely until at least March." It also sent the yuan surging and triggered a round of profit taking on long U.S. dollar positions, particularly against commodity sensitive currencies such as the Australian dollar. The U.S. dollar index bounced 0.4% having dived almost 2% at the end of last week. Median forecasts are for annual CPI inflation to slow to 8.0% and for the core to dip a tick to 6.5%. Oil futures lost some of their gains with Brent off $1.79 at $96.78, while U.S. crude dropped $1.71 to $90.90 per barrel.

☆ Asian shares lower, yields rise on aggressive rate hike jitters
▼ + stars: | 2022-10-21 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, Oct 21 (Reuters) - Asian shares tracked Wall Street lower on Friday while Treasury yields scaled 14-year highs as the prospect of aggressive interest rate hikes from the Federal Reserve and recession risks soured investor sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.55% but above the two-and-a-half year low it touched on Thursday. Australia's resources-heavy share index (.AXJO) lost 0.74%, while Japan's Nikkei (.N225) opened 0.38% lower. U.S. benchmark 10-year Treasury yields to as much as 4.234%, its highest level since June 2008. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ankur Banerjee; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

☆ Asia stocks, pound savour the relief of UK U-turn
▼ + stars: | 2022-10-18 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

U.S. futures also pointed to a higher opening with S&P 500 futures up 1.6% and Nasdaq futures up 1.8%. The Australian dollar rose on Tuesday after the Reserve Bank of Australia said it expects to raise interest rates further over the coming months. Intervention is more about speed of moves than it is levels, said Ray Attrill, head of foreign-exchange strategy at National Australia Bank. "I don't think the Japanese authorities are particularly keen to see dollar yen at 150 in the immediate term and that's why markets are being a bit guarded." Brent crude futures rose 74 cents, or 0.8%, to $92.36 per barrel by 0505 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 78 cents, or 0.9%, to $86.24 per barrel.

☆ Asia stocks rise as relief rally builds after UK U-turn
▼ + stars: | 2022-10-18 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.43%, while Japan's Nikkei (.N225) was up 0.6%. The Australian dollar rose on Tuesday after the Reserve Bank of Australia said it expects to raise interest rates further over the coming months. The yen touched a fresh 32-year low of 149.10 per dollar on Monday, not far off the psychological metric of 150. read moreBrent was up 0.08% to $91.69 a barrel, while U.S. crude rose 0.04% to $85.49 per barrel. Register now for FREE unlimited access to Reuters.com RegisterEditing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

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