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☆ Wall Street meanders, dollar gains as Fed rate hike seen in May
▼ + stars: | 2023-04-10 | by ( Herbert Lash | ) www.reuters.com time to read: +4 min

"My sense is that the labor market and CPI would favor the Fed raising rates again. However, what has made the market have second thoughts is the extent of the tightening of lending." The dollar index rose 0.52% and the two-year Treasury yield, which typically moves in step with interest rate expectations, added 4.2 basis points to 4.014%. On Wall Street, the Dow Jones Industrial Average (.DJI) rose 0.3%, the S&P 500 (.SPX) gained 0.10% and the Nasdaq Composite (.IXIC) dropped 0.03%. The dollar extended gains against the yen to 133.87 , the highest since March 15, on receding expectations of a near-term tweak to Japan's ultra-loose monetary policy.

☆ Dollar gains on Fed rate hike bets, yen dips on Ueda comments
▼ + stars: | 2023-04-10 | by ( Karen Brettell | ) www.reuters.com time to read: +2 min

The dollar index was last up 0.67% against a basket of currencies at 102.68, the highest since April 3. The latest Fed data shows that commercial and industrial loans at commercial banks dropped to $2.756 trillion in the week ending March 29, from $2.824 trillion in the week ending March 15. Fed funds futures traders are currently pricing in a 70% probability that the Fed will hike rates by an additional 25 basis points at its May 2-3 meeting. The greenback was last up 1.00% at 133.45 yen , the highest since April 3. ========================================================Currency bid prices at 9:44AM (1344 GMT)Reporting by Karen Brettell; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ C$ posts biggest gain in nearly 2 months on OPEC+ output cut
▼ + stars: | 2023-04-03 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The price of oil, one of Canada's major exports, settled 6.3% higher at $84.93 a barrel as the Organization of the Petroleum Exporting Countries and allies, or OPEC+, jolted markets with plans to cut more production. The Canadian dollar was trading 0.8% higher at 1.3412 per greenback, or 74.56 U.S. cents, its biggest single-day advance since Feb. 10 and its strongest level since Feb. 16. Canadian government bond yields eased across the curve, tracking the move in U.S. Treasuries. The 10-year was down 1.5 basis points at 2.884%, while the gap between it and its U.S. equivalent narrowed by four basis points to 55.1 basis points in favor of the U.S. bond. Reporting by Fergal Smith; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ CNBC Daily Open: SVB deposits and loans find a buyer
▼ + stars: | 2023-03-27 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. By all appearances, First Citizens Bank is a willing buyer of SVB — unlike UBS' forced marriage with Credit Suisse, orchestrated by Swiss regulators. Deutsche Bank is not another Credit Suisse in two key aspects. Deutsche Bank reported a 1.8-billion-euro ($1.98 billion) net profit, giving it an annual net income for 2022 of 5 billion euros. By contrast, Credit Suisse had a fourth-quarter loss of 1.4 billion Swiss francs ($1.51 billion), bringing it to a full-year loss of 7.3 billion Swiss francs.

☆ Dollar steady as banking crisis fears keep investors jittery
▼ + stars: | 2023-03-27 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

On Friday, the U.S. Financial Stability Oversight Council said the U.S. banking system was "sound and resilient" despite stress on some institutions. Risk-wary investors sent the yen to a seven-week high of 129.65 per dollar on Friday. "What's unclear for us is how much of these banking stresses are leading to a widespread credit crunch. That credit crunch ... would then slow down the economy," Kashkari said in comments to CCBS show Face the Nation. The Australian dollar rose 0.03% versus the greenback at $0.665.

☆ Dollar steady as banking crisis fears linger
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: +3 min

The dollar was steady on Monday, while the yen hovered near its seven-week peak as investors assessed moves made by authorities and regulators to rein in worries over the global banking system. Minneapolis Fed president Neel Kashkari said on Sunday the recent stress in the banking sector and the possibility of a follow-on credit crunch has brought the U.S. closer to recession. "What's unclear for us is how much of these banking stresses are leading to a widespread credit crunch. That credit crunch ... would then slow down the economy," Kashkari said in comments to CBS show Face the Nation. The Australian dollar rose 0.09% to $0.665.

☆ CNBC Daily Open: Deutsche Bank is not Credit Suisse
▼ + stars: | 2023-03-27 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

A Deutsche Bank AG branch in the financial district of Frankfurt, Germany, on Friday, May 6, 2022. Deutsche Bank is the latest bank to suffer a panic-driven sell-off. Deutsche Bank is not another Credit Suisse in two key aspects. By contrast, Credit Suisse had a fourth-quarter loss of 1.4 billion Swiss francs ($1.51 billion), bringing it to a full-year loss of 7.3 billion Swiss francs. On the other hand, Credit Suisse disclosed it had to use "liquidity buffers" in 2022 as the Swiss bank fell below regulatory requirements of liquidity.

☆ Bank fears will likely lead to even more market volatility in the week ahead
▼ + stars: | 2023-03-24 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

Market turbulence could reign supreme once again in the week ahead, as investors worry about the potential for more trouble rippling through the banking system. The broader market was initially under pressure Friday as investors became jittery about Deutsche Bank . "The market is saying: 'You, the Fed, do not appreciate the slowdown that is going to hit us,'" Chandler said. "The market is going to do a lot better and it held onto its gains despite all the things that rocked the market. He added that market concern about banks has risen, and there is concern credit tightening will hurt the economy.

Many of the regional banks have also said that their deposit base has stabilized. "The regional banks have come under pressure because they are less equipped to handle a withdrawal of deposits the way the big banks are," said Mark Chandler, chief market strategist at Bannockburn Global Forex in New York. In a move of solidarity, most of the major banks agreed on Thursday to deposit $30 billion in First Republic. At least four U.S. lawmakers said on Sunday they would consider whether a higher federal insurance limit on bank deposits than the current $250,000 threshold was needed to inspire more confidence in the system. Buffett has yet to prop up any of the regional banks.

There's a big shift in rate expectations," said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York. Goldman Sachs (GS.N), among other big banks, said it no longer expects the Fed to deliver a rate hike at the end of its two-day policy meeting on March 22. "There's been a radical change in interest rate expectations and in that scenario the dollar has weakened," said Niles Christensen, chief analyst at Nordea. The Japanese yen strengthened 1.47% at 133.04 per dollar, while the dollar fell 1.23% against the Swiss franc at 0.910. Earlier, it hit a near one-month high of $1.0737, ahead of the European Central Bank's policy meeting on Thursday.

☆ The dollar is spiking against rival currencies as Fed boss Powell delivers tough talk on rate hikes
▼ + stars: | 2023-03-08 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Investors are preparing for the Fed to ramp up the pace of interest rate hikes. The dollar has inflicted "technical damage" to some of its rivals, says one strategist. The US Dollar Index rose to 105.88, the highest level since early December. The Fed "would be prepared to increase the pace of rate hikes," if the totality of the incoming economic data were to warrant such moves, he said. The Dollar Index has gained more than 2% this year after hitting a two-decade high in 2022.

☆ Bitcoin edges higher after dismal February for risk assets as investors assess rate outlook and new China data
▼ + stars: | 2023-03-01 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Bitcoin and other risk assets rose after strong Chinese manufacturing activity data. The coin on Wednesday was gaining ground on notably strong manufacturing data out of China. China's National Bureau of Statistics said its manufacturing activity index rose to 52.46 in February, the highest reading since April 2012, according to Bloomberg. Chinese stocks bounced higher, with the Hang Seng Index soaring more than 4%. Copper was another risk-on asset gaining ground, up 1.2% at $4.14 per pound on prospects of higher Chinese demand for the metal used for construction projects.

ORLANDO, Fla., Feb 22 (Reuters) - Although China's selling of U.S. Treasury securities over the past year raises multiple geopolitical questions, it's merely switching to other dollar bonds - casting doubt about a more alarming strategic investment shift. Beijing's stash of U.S. government bonds ended last year at $862.3 billion, the lowest since May, 2010, according to Refinitiv data. Meanwhile, China's holdings of U.S. agency bonds last year rose by $50.9 billion and valuation effects accounted for $34.8 billion. This means the real increase was $85.9 billion, substantially more than the decline in Treasuries holdings. "Maybe the big story is there is no sign that China's dollar holding portfolio has changed much.

☆ Inflation in Japan is 'very close' to peaking, says strategist
▼ + stars: | 2023-02-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation in Japan is 'very close' to peaking, says strategistMarc Chandler of Bannockburn Global Forex says the market expects inflation in Japan to fall back below 2% later in the year.

☆ Dollar gains as central banks take central stage
▼ + stars: | 2023-01-30 | by ( Karen Brettell | ) www.reuters.com time to read: +3 min

The U.S. central bank is widely expected to hike interest rates by an additional 25 basis points this week, and investors will be watching for any new indications on how many more rate increases are likely. The question now is "does the dollar bounce or is this a nesting pattern before the next leg down," Chandler said. The euro fell 0.22% to $1.0844, erasing earlier gains after Spain's consumer prices rose 5.8% on a year-on-year basis in January, the first increase in six months. The dollar rose 0.57% against the Japanese yen to 130.53 . The BoE and ECB are both expected to raise rates by 50 basis points each this week.

☆ How the dollar's sharp reversal could be an unexpected positive for these companies
▼ + stars: | 2023-01-25 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

But with the dollar's stunning reversal since then, some companies should conversely start to catch a currency break and potentially see upside surprises. In the fourth quarter, because of the sophisticated hedging strategies from companies, they may not get the full benefit of the dollar's decline. Johnson & Johnson, for instance, said fourth quarter sales fell, in part because of the negative impact from currency translation. 3M said fourth quarter sales were 5% lower than they would have been were it not for the stronger dollar. Sacconaghi said the market has typically rewarded tech companies' "currency beats."

☆ Stocks, euro gain as Fed, ECB rate hike outlooks diverge
▼ + stars: | 2023-01-23 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

[1/3] A new 100-euro banknote is presented at the ECB headquarters in Frankfurt, Germany, September 17, 2018. In Europe, technology firms also spearheaded gains as optimism about Europe likely avoiding a steep recession overshadowed recent hawkish remarks from ECB officials. Investors are waiting for euro zone and U.S. flash PMI data on Tuesday, which are expected to show less severe economic contractions than the previous month, according to analysts polled by Reuters. The difference in expectations for Fed and ECB policy led the euro to hit $1.0927 as it climbs from a two-decade low of $0.953 set in September. Euro zone bonds were little changed, with the benchmark 10-year German yield at 2.209% .

☆ 'P.R. job' or antidote to 'groupthink'? Bank of Canada to offer policy-meeting minutes
▼ + stars: | 2023-01-22 | by ( Steve Scherer | ) www.reuters.com time to read: +4 min

Annual inflation shot to 8.1% in June, the highest in 39 years and four times the Bank of Canada's 2% target. On the recommendation of the International Monetary Fund, the BoC in September said it would release minutes to improve transparency,Other central banks including the U.S. Federal Reserve, the Bank of England and the European Central Bank already provide some form of record of their meetings. "The big enemy for policymakers and investors is groupthink," said Marc Chandler, chief market strategist at Bannockburn Global Forex LLC. JOB'Other market-watchers say releasing minutes is more an exercise in public relations than an effort to boost transparency. Reuters GraphicsReuters GraphicsReporting by Steve Scherer, additional reporting by Fergal Smith, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ Dollar flat as investors digest China's loosening of COVID rules
▼ + stars: | 2022-12-27 | by ( ) www.cnbc.com time to read: +3 min

The dollar was flat on Tuesday after China said it would scrap its COVID-19 quarantine rule for inbound travelers - a major step in reopening its borders, even as COVID cases spike. At the same time, Beijing downgraded regulations for managing COVID cases to the lighter Category B from the top-level Category A. "There seems to be no let-up in the pace of relaxing COVID restrictions despite the surge in COVID cases in the mainland." Elsewhere, the euro rose 0.1% against the dollar to $1.0640. With UK markets closed for a public holiday, trading in sterling was muted, leaving the pound down against the dollar at around $1.2031.

☆ Dollar little changed after previous day's jump; investors look to Fed next week
▼ + stars: | 2022-12-06 | by ( ) www.cnbc.com time to read: +2 min

Data Monday showing that U.S. services industry activity unexpectedly picked up in November prompted speculation the Fed may lift interest rates more than recently projected. "There was a lot of price action yesterday, and we're just consolidating that," with the big focus on next week's Fed meeting. The euro was flat against the dollar at $1.0492, while the dollar was down 0.1% against the Japanese yen. European Central Bank policymaker Constantinos Herodotou said on Tuesday interest rates will go up again but are now "very near" their neutral level. The dollar was up 0.6% against the Canadian dollar ahead of the Bank of Canada's rate decision Wednesday.

"Good news on the economy is bad news for inflation, whether that's China opening up or lower gasoline prices." The 10-year's yield rose 9.3 basis points to 3.596%. The 10-year German bund , the bloc's benchmark, rose 1.3 basis points to 1.890%. The Reserve Bank of Australia meets on Tuesday, and is expected to raise rates by a mere 25 basis points. The Bank of Canada meets on Wednesday and is expected to raise rates by 50 basis points.

☆ Dollar gives back gains, strong wage growth complicates Fed policy
▼ + stars: | 2022-12-02 | by ( ) www.cnbc.com time to read: +3 min

"Stronger-than-expected hiring can buy the Fed more time to stay aggressive," Joe Manimbo, senior market analyst at Convera in Washington, said. But the dollar gave back gains as investors took profits before the weekend and as Fed officials spoke on the outlook. The dollar index was last down 0.13% on the day against a basket of currencies at 104.49, and the euro gained 0.10% to $1.0533. In the 12 months through October, the PCE price index increased 6.0% after advancing 6.3% in September. The next major U.S. economic indicator will be consumer price inflation data due on Dec. 13, one day before the Fed concludes its two-day meeting.

☆ C$ dips against greenback; falls harder vs other G10 currencies
▼ + stars: | 2022-12-01 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

It was the only G10 currency to lose ground against the U.S. dollar . The greenback fell 1.1% against a basket of major currencies. "In a weak U.S. dollar environment, the Canadian dollar often lags," said Marc Chandler, chief market strategist at Bannockburn Global Forex LLC. Chances that the BoC would hike by 50 basis points rather than 25 basis points at a policy decision next Wednesday have fallen to roughly 10% from 30% since Powell's comments, money market data showed. The Canadian 10-year yield fell 9.3 basis points to 2.842%, its lowest level since Aug. 18.

☆ Global stocks rise but Polish deaths raise market concerns
▼ + stars: | 2022-11-15 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

Stocks wavered and the dollar briefly rose on initial reports of the Polish deaths as the market was overstretched as data suggested inflation was coming off its peak, said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York. The Polish deaths were reminiscent of U.S. bombs that killed three people in the Chinese Embassy in Belgrade in 1999, he said. Reuters Graphics Reuters GraphicsMSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 1.03%, while its emerging markets index (.MSCIEF) rose 2.22%. The euro up 0.22% to $1.0348, after briefly slipping on the Polish reports, and the yen strengthened 0.50% versus the dollar at 139.18. U.S. crude futures settled up $1.05 at $86.92 a barrel, while Brent futures rose 72 cents to settle at $93.86.

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 14, 2022. As soon as these numbers can start coming down, even if it's a slow walkdown in inflation, the market will be relieved." MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 1.55%, while its emerging markets index (.MSCIEF) rose 2.35%. The pull-back we've seen, the dollar sells off last week sharply, some of the currencies were three standard deviation moves." Data out on Tuesday showed that the British unemployment rate rose in September.

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