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☆ Dollar, bond yields rise ahead of pivotal rate hikes
▼ + stars: | 2022-10-31 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

Combined with news that Italy's economy grew far more strongly than expected in the third quarter, euro zone bond yields moved higher EUR/GVD although the euro succumbed to another bout of U.S. dollar strength. /FRX"A lot of data is coming out this week and lot of central banks are meeting," said Societe Generale strategist Kit Juckes. Palm oil futures rose nearly 5%. In the oil markets, Brent crude futures fell 1% to $94.65 a barrel, while spot gold was fractionally lower at $1,637 an ounce in the precious metals markets. Additional reporting by Tom Westbrook in Singapore; Editing by Kirsten Donovan and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks splutter, euro falls ahead of euro zone inflation data
▼ + stars: | 2022-10-31 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

,Euro zone October inflation numbers due shortly are seen hitting a fresh record of 10.2% year on year, in what will make for more uncomfortable reading for the European Central Bank, which is targeting 2% price growth. Combined with news that Italy's economy grew far more strongly than expected in the third quarter, euro zone bond yields moved higher EUR/GVD although the euro succumbed to another bout of U.S. dollar strength. /FRX"A lot of data is coming out this week and lot of central banks are meeting," said Societe Generale strategist Kit Juckes. We are now waiting for euro zone GDP and CPI. S&P 500 futures fell 0.2%, while Germany's 10-year government bond yield, the benchmark for the euro area, was up 5.5 basis points (bps) to 2.143%.

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. However, late last week this narrative ran out of steam, and it continued to struggle on Monday. The Fed is expected to deliver another 75 basis point (bp) rate hike after the conclusion of the FOMC meeting on Wednesday. ECB governing council member Klaas Knot said on Sunday the central bank's next move in December is likely to be between 50 and 75 bps. The dollar was last 0.68% higher against the yuan traded offshore at 7.31.

☆ Dollar steadies as Fed looms; yen fragile
▼ + stars: | 2022-10-31 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

The greenback moved broadly higher in Asia trade, particularly against the Japanese yen , rising more than 0.5% and pushing above the 148 yen level. Data on Friday showed that U.S. consumer spending rose more than expected in September, while underlying inflation pressures continued to bubble. The Fed is expected to deliver another 75 basis point (bp) rate hike after the conclusion of the FOMC meeting on Wednesday. Ahead of another central bank decision this week, the Australian dollar rose 0.1% to $0.6418. The offshore yuan was last down 0.4% at 7.2990 per dollar.

☆ Stocks rally wobbles as Fed hike draws near
▼ + stars: | 2022-10-31 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1%, though China stocks were held flat by disappointing economic data. The index is down ten months in a row and near two-year lows, rattled by growth and interest-rate hike fears. The mixed performance follows an erratic earnings season on Wall Street and bond and currency markets tempering some wagers on a change in tone from the Fed. S&P 500 futures fell 0.2%, while European futures rose 0.4%. Palm oil futures rose nearly 5%.

☆ Dollar up as data suggests Fed hawks will stay in control; yen fragile
▼ + stars: | 2022-10-31 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The greenback moved broadly higher in Asia trade, particularly against the Japanese yen , rising more than 0.5% and pushing above the 148 yen level. Data on Friday showed that U.S. consumer spending rose more than expected in September, while underlying inflation pressures continued to bubble. The Fed is expected to deliver another 75 basis point (bp) rate hike after the conclusion of this week's policy-setting meeting on Wednesday. Ahead of another central bank decision this week, the Australian dollar rose 0.09% to $0.6417. Along with a further 75 bp of rate hikes in the first half of 2023, we now have the RBA cash rate peaking at 3.85%."

☆ Asia stocks creep higher on hopes Fed will tone down hikes
▼ + stars: | 2022-10-31 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

But China stocks fell following weak economic data, and the MSCI index is set for a tenth consecutive monthly loss. The performance follows a Friday rally on Wall Street but comes with bond and currency markets tempering some wagers on a change in tone from the Fed. S&P 500 futures fell 0.2%. Corn futures rose 2%. Rates and Fed funds futures traders have now tempered initial optimism and see the funds rate hitting near 5% by May next year.

☆ Wheat climbs 5.5% as Russia withdraws from Black Sea export agreement
▼ + stars: | 2022-10-31 | by ( Naveen Thukral | ) www.reuters.com time to read: +2 min

Summary Russia suspends participation in Black Sea grain exports dealBlack Sea wheat, corn supplies at risk on Russia withdrawalU.N., Turkey, Ukraine press ahead with grain exportsSINGAPORE, Oct 31 (Reuters) - Chicago wheat futures jumped more than 5% on Monday and corn rose over 2% as Russia's withdrawal from a Black Sea export agreement raised concerns over global grain supplies. "(The market) is going to be overwhelmed in early trade today by Russia suspending its participation in the Black Sea grain corridor during the weekend," said Tobin Gorey, director of agricultural strategy at the Commonwealth Bank of Australia. "Our view has been that wheat futures were adding little premium to prices for the risk that the corridor would close." Moscow suspended its participation in the Black Sea deal on Saturday in response to what it called a major Ukrainian drone attack on its fleet in Russia-annexed Crimea. Wheat futures hit a record high of $13.64 a bushel in March.

☆ Dollar strengthens as Fed expected to stay hawkish; yen fragile
▼ + stars: | 2022-10-31 | by ( ) www.cnbc.com time to read: +3 min

Against the Japanese yen , the greenback was 0.44% higher at 148.08, particularly helped by the Bank of Japan's (BOJ) decision to keep ultra-low interest rates on Friday, and BOJ Governor Haruhiko Kuroda's still-dovish comments in the face of rising interest rates elsewhere. The dollar moved broadly higher in early Asia trade, and was up more than 0.2% against the New Zealand dollar and the pound. It recouped some of last week's losses, after having slid on hopes of a potential Fed change of tack. Data on Friday showed that U.S. consumer spending rose more than expected in September, while underlying inflation pressures continued to bubble. The Fed is expected to deliver another 75 basis point (bp) rate hike after this week's FOMC meeting, when policymakers announce their decision on Wednesday.

☆ Euro slips below parity, yen steady ahead of BOJ
▼ + stars: | 2022-10-28 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. "The ECB policy decisions were less hawkish than most had expected. The yen last bought 146.41 per dollar, and was on track for a nearly 1% weekly gain, its largest since August. The fragile currency has received support from suspected intervention by Japanese authorities to prop up the yen last Friday and on Monday. "At the moment, I don't really see any case for a shift in the Bank of Japan's monetary policy," said CBA's Kong.

☆ These 13 sell-rated global stocks have serious downside risk, Wall Street analysts say
▼ + stars: | 2022-10-28 | by ( Ganesh Rao | ) www.cnbc.com time to read: +8 min

Equity analysts have slashed estimates and price targets over recent days as companies continue to report disappointing third-quarter results. Thirteen of these stocks — all part of the MSCI World Index — have median analyst price targets below their current share price, according to FactSet data. Global stocks Other stocks with price targets below current trading levels include Japanese multinational retailer AEON , U.S.-listed Clorox , and U.K. financial services company Abrdn plc. Equity analysts have slashed estimates and price targets over recent days as companies continue to report disappointing third-quarter results. Thirteen of these stocks — all part of the MSCI World Index — have median analyst price targets below their current share price, according to FactSet data.

☆ Euro slips below parity, yen steady ahead of Bank of Japan
▼ + stars: | 2022-10-28 | by ( ) www.cnbc.com time to read: +3 min

The euro held below parity on Friday as investors eyed a potential slowdown in future rate hikes by the European Central Bank, while the yen was on track for its best week in over two months ahead of a key central bank policy decision. "The ECB policy decisions were less hawkish than most had expected. The yen last bought 146.41 per dollar, and was on track for a nearly 1% weekly gain, its largest since August. The fragile currency has received support from suspected intervention by Japanese authorities to prop up the yen last Friday and on Monday. "At the moment, I don't really see any case for a shift in the Bank of Japan's monetary policy," said CBA's Kong.

☆ Australian regulator appeals dismissal of petition against CBA, unit by court
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Oct 26 (Reuters) - Australia's corporate regulator said it had appealed the Federal Court's decision to dismiss its petition against the Commonwealth Bank of Australia (CBA.AX) and its pension unit on allegations of improperly collecting commissions. Last month, the Australian Federal Court dismissed a petition by the Australian Securities and Investments Commission (ASIC) that accused the country's top lender and Colonial First State of a scheme, where the bank took commission to sell products for its unit from 2013 to 2019, a banned practice known as conflicted remuneration. read more"We have appealed this decision because we are concerned that it will limit the operation of conflicted remuneration laws introduced in 2012," ASIC Deputy Chair Sarah Court said in a statement on Wednesday. Reporting by Tejaswi Marthi in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Dollar eases amid bets on less hawkish Fed; sterling firm
▼ + stars: | 2022-10-25 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

The yen held firm on the stronger side of 149 per dollar following two consecutive days of suspected Bank of Japan (BOJ) intervention straddling the weekend. Economists polled by Reuters expect the pace of rate increases to slow to 50 basis points in December, matching bets in money markets. At 149.00 yen, the dollar was down from the 32-year high of 151.94 on Friday that appeared to trigger successive bouts of BOJ intervention. Whatever the tactics, we still expect USD/JPY to recover within a few weeks after BOJ intervention ends." The ECB looks set to hike rates by 75 basis points on Thursday to try and rein in red-hot inflation.

☆ Sterling dips after Truss resigns, fragile yen weakens past 150 level
▼ + stars: | 2022-10-21 | by ( ) www.cnbc.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are arranged for a photograph in Tokyo, Japan. The U.S. dollar pushed to a fresh two-decade high versus major peers on Thursday, propelled by the Federal Reserve's hawkish outlook for interest rates. The euro fell 0.15% to $0.97725, after tracking the move in sterling to an overnight high of $0.98455. Meanwhile, the yen last bought 150.20 per dollar, after hitting a fresh 32-year low of 150.29 overnight. U.S. Treasury yields extended their climb overnight, with the two-year Treasury yield hitting a 15-year high of 4.623%, while the benchmark 10-year Treasury yield peaked at 4.243%, its highest level since June 2008.

☆ Stocks sag, bond yields firm as yen sinks further
▼ + stars: | 2022-10-20 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

The strong dollar continued to loom over currency markets, with the yen sinking to a 32-year low against the greenback. U.S. 10-year Treasury yields touched a 14-year high, while 2-year German government bond yields rose to their highest since December 2008. But earnings are likely to fall next year which, along with anticipated interest rate hikes in the United States and elsewhere, are already largely priced into markets, Osman said. China's stock market (.SSEC) fell while Hong Kong stocks (.HSI) hit levels last seen during the 2008-09 global financial crisis. The rise in the dollar and yields pushed gold lower, with prices lingering at a three-week trough on Thursday.

☆ Dollar rides Treasury yields higher, yen closes in on key 150 level
▼ + stars: | 2022-10-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

SINGAPORE, Oct 20 (Reuters) - The dollar loomed over major peers on Thursday as Treasury yields peaked at multi-year highs, while the yen slid to a fresh 32-year low and kept markets on high alert for any signs of an intervention. The fragile yen hit a fresh trough of 149.98 per dollar, its lowest since August 1990, and last bought 149.975. "Given that Treasury yields have moved decisively above 4%, were it not for the threat of intervention then I think dollar/yen would already be trading north of 150." The benchmark U.S. 10-year Treasury yield rose to 4.154% on Thursday, its highest level since mid-2008, while the two-year Treasury yields touched a 15-year high of 4.582%. "Because central banks misjudged how high inflation would go, they're really still catching up by increasing interest rates significantly, and that's going to cause big problems for the world economy, particularly next year," said CBA's Capurso.

☆ Asia stocks slip as risk appetite wanes on rate-hike fears
▼ + stars: | 2022-10-20 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

European stock futures indicated stocks were set to decline, with Eurostoxx 50 futures down 0.43%, German DAX futures down 0.45% and FTSE futures down 0.25%. "Yields rose to fresh cycle highs and risk appetite soured," said Taylor Nugent, a markets economist at National Australia Bank in Sydney. China's stock market (.SSEC) fell on Thursday while Hong Kong stocks (.HSI) hit levels last seen during the 2008-09 global financial crisis. Sterling fell 0.2% to $1.12005 even as the inflation data showed food prices have jumped the most since 1980. /FRX"I think the risk of another intervention continues to be very high," said Commonwealth Bank of Australia strategist Carol Kong.

☆ FOREX Dollar holds near 32-year peak vs yen despite intervention risks; sterling licks wounds
▼ + stars: | 2022-10-19 | by ( Kevin Buckland | ) www.reuters.com time to read: +5 min

The dollar pushed as high as 149.395 yen overnight for the first time since August 1990, before last trading at 149.305 in the Asian session. read moreThe dollar index - which measures the currency against six peers including the yen, sterling and euro - added 0.2% to 112.19, after dropping to the lowest since Oct. 6 at 111.76 overnight. Meanwhile, sterling was little changed at $1.1318, licking its wounds after a 0.34% decline in the previous session. Economists in a Reuters poll predict another 75 basis-point rate hike from the European Central Bank on Thursday of next week. The currency last traded 0.08% higher at $0.56905, close to the previous session's two-week high of $0.5719.

☆ Dollar holds near 32-peak versus yen despite intervention risks; sterling licks wounds
▼ + stars: | 2022-10-19 | by ( ) www.cnbc.com time to read: +4 min

The dollar pushed as high as 149.395 yen overnight for the first time since August 1990, before last trading at 149.305 in the Asian session. Meanwhile, sterling was little changed at $1.1318, licking its wounds after a 0.34% decline in the previous session. Economists in a Reuters poll predict another 75 basis-point rate hike from the European Central Bank on Thursday of next week. The New Zealand dollar remained elevated following Tuesday's blowout consumer price data, which raises expectations for continued aggressive tightening by the Reserve Bank. The currency last traded 0.08% higher at $0.56905, close to the previous session's two-week high of $0.5719.

☆ Sterling rebounds on UK fiscal policy U-turn; yen struggles
▼ + stars: | 2022-10-17 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, British GDP £1 coins and bank notes are pictured in Bath, England. The news came hours after she sacked former finance minister Kwasi Kwarteng, with Jeremy Hunt replacing him. All eyes are now on how the UK government bond market will trade, after the Bank of England on Friday concluded its emergency gilt market support. The U.S. dollar index , which measures the greenback against a basket of currencies including the yen, firmed at 113.02. Elsewhere, the euro gained 0.26% to $0.9748, while the Australian and New Zealand dollars bounced mildly from recent losses.

☆ Dollar holds firm, yen hovers around 32-year low
▼ + stars: | 2022-10-14 | by ( ) www.cnbc.com time to read: +2 min

Japanese yen and U.S. dollar banknotes are arranged for a photograph in Tokyo, Japan. The dollar index was little changed after falling 0.5% in the previous session as investors digested data that showed U.S. consumer prices increased more than expected in September. "I doubt the weaker dollar will sustain … the dollar is the safe-haven currency currently," Kong said. The dollar was trading at 147.43 to the yen , not far off from the 32-year peak of 147.665 it hit in the previous session. The Australian dollar was up 0.22% versus the greenback at $0.631, coming off two and half year low it touched in the previous session.

☆ Asian stocks weaken as Fed, BoE fuel uncertainty before U.S. CPI data
▼ + stars: | 2022-10-13 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

U.S. long-term Treasury yields languished near the lows of the past two days, sitting little changed at 3.9227% in Tokyo trading. Treasury yields turned lower after the minutes, reversing an earlier rise, with investors focusing on the dovish undertones in taking yields back from near two-decade highs. The dollar index, which gauges the greenback against six major rivals, stuck near the middle of its range this week, trading little changed at 113.27. But the dollar was little changed versus sterling , which had rebounded strongly from a two-week trough of $1.0925 on Tuesday. Benchmark 10-year gilt yields had swung from a fresh 14-year peak at 4.632% to close at 4.429% on Wednesday, little changed from the previous session.

The dollar strengthened 0.22% to 146.18 yen in Asian trading, after pushing as high as 146.39 for the first time since August 1998. The Japanese currency is particularly sensitive to the gap between U.S. and Japanese long-term bond yields. Japanese authorities staged their first yen-buying intervention since 1998 on Sept. 22, when the yen tumbled to as low as 145.90 per dollar. Elsewhere, sterling which earlier touched $1.0925, marking a fresh low since Sept. 29, bounced 0.4% to $1.1008 after the FT report. The euro slumped to its weakest since Sept. 29 overnight at $0.9670 and remained not far from that level, trading 0.08% lower than Tuesday's close at $0.96975.

☆ Dollar at 24-year peak to yen as U.S. yields jump; sterling on the ropes
▼ + stars: | 2022-10-12 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

The Japanese currency is particularly sensitive to the gap between U.S. and Japanese long-term bond yields. Japanese officials staged their first yen-buying intervention since 1998 on Sept. 22, when the yen tumbled to as low as 145.90 per dollar. Sterling slipped 0.13% to $1.0947, and earlier touched $1.09385, marking a fresh low since Sept. 29, following the comments by the BoE governor. Gilt yields soared on Tuesday, lifting yields in the U.S. and elsewhere. The New Zealand dollar was 0.21% lower at $0.5570, approaching the previous day's low of $0.5536, a level not visited since March 2020.

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