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☆ Asian shares shaky as investors wary before US inflation data
▼ + stars: | 2024-06-26 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Risk sentiment was also capped as hawkish comments from Federal Reserve officials kept near-term U.S. rate cut expectations in check in a boost to the dollar. The comments along with data showing a stable housing market kept expectations in check over when and by how much the Fed will cut rates. Markets are pricing in 47 basis points of easing this year, with a rate cut in September pegged at 66% probability, CME FedWatch tool showed. In the currency market, the dollar index , which measures the U.S. unit against six peers, was steady at 105.64, while the euro was at $1.0715. The yen touched a 34-year low of 160.245 per dollar on April 29, prompting Tokyo to spend roughly 9.8 trillion in late April and early May to support the currency.

Persons: Androniki, Lisa Cook, Cook, Michelle Bowman, Selena Ling, OCBC, OCBC's Ling, Shri Navaratnam Organizations: Nikkei, REUTERS, Federal Reserve, . Federal, Reuters, Bank of Japan's, Brent, U.S, West Texas, Thomson Locations: Tokyo, Japan, SINGAPORE, U.S, Asia, Pacific

☆ Morning Bid: Markets wary Powell may undermine rate-cut bets
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +3 min

Federal Reserve Chair Jerome Powell answers a question during a press conference at the Federal Reserve in Washington, U.S., November 1, 2023. The disconnect between financial markets and central banks has only deepened as central banks push back against talk of rate cuts while markets take in the relatively more benign inflation data of recent weeks. That helped to embolden markets to take on rate-cut bets. Markets are now pricing in a 46% chance of the central bank cutting rates in March, the CME FedWatch tool showed. Speakers: Bank of England MPC member Megan Greene, ECB President Christine Lagarde, Fed Chair Jerome Powell.

Persons: Jerome Powell, Kevin Lamarque, Ankur Banerjee, Christopher Waller, Powell, Elon Musk, Megan Greene, Christine Lagarde, Edmund Klamann Organizations: Federal Reserve, REUTERS, Ankur, Fed, ECB, Reuters Graphics Reuters, Reuters, Bank of England, Thomson Locations: Washington , U.S, Europe, Asia, France, UK, Germany, Singapore

☆ 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

☆ As global rates turn, banks in India and Indonesia set to win
▼ + stars: | 2023-11-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Loan growth at Asian banks is estimated to rise from 4.5% this year to 10% next year, LSEG data shows, with banks in India and Indonesia leading with 15% and 11% growth, respectively. Ng likes banks in India and Indonesia, given the better economic growth in those economies and ability of banks to sustain margins. LSEG data shows profits at banks in India and Indonesia will grow 13% and 11% respectively next year, nearly double the 6% average rise across Asia-Pacific banks. That compares to price-to-book ratio for MSCI's index for all-country Asian banks (.dMIAS0CB00PUS) of 0.9. Banks in Australia are estimated to see a drop of 5% in profit in 2024 while profits at Singapore banks will be flat.

Persons: Frederic Neumann, Neumann, Morgan, Yao Ng, abrdn, Ng, Vinay Agarwal, Agarwal, Morgan Stanley, Ankur Banerjee, Gaurav Dogra, Patturaja, Vidya Ranganathan, Simon Cameron, Moore Organizations: U.S . Federal, Fed, HSBC, ICICI, Kotak Mahindra Bank, Axis Bank, FSSA Investment Management, Indonesia's Bank Central Asia, BCA, Reuters, Thomson Locations: SINGAPORE, India, Indonesia, Thailand, Asia, Japan, J.P, Pacific, Singapore, Hong Kong, South Korea, Banks, Australia, China, Bengaluru

☆ 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

☆ Asian stocks inch ahead as traders brace for inflation data
▼ + stars: | 2023-11-28 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Japan's Nikkei (.N225) eased 0.20% but is up 8% this month, on course for its strongest monthly performance in three years. "The outlook for central bank policy has been a big factor driving the improvement in risk appetite in November," said Rodrigo Catril, senior FX strategist at National Australia Bank. Investors will focus this week on the Fed's preferred measure of inflation on Thursday and euro zone consumer inflation figures for further clarity on the where inflation is headed. 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 103.11, its lowest since Aug. 31.

Persons: Rodrigo Catril, Catril, Christine Lagarde, Jerome Powell, HSI, Brent, Ankur Banerjee, Sam Holmes Organizations: Federal, Japan's Nikkei, National Australia Bank, European Central Bank, Treasury, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, U.S, OPEC

☆ Morning Bid: China's Shein steals market spotlight
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

Whether this potential blockbuster gives a fillip to the lacklustre IPO market remains to be seen, after some high-profile public debuts this year failed to impress. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) is on course for its strongest monthly performance since January with a nearly 7% gain. Japan's Nikkei, Asia's best-performing stock market this year, is set for its strongest monthly result in three years. European stock markets are likely to see a subdued start to Tuesday, futures indicate, with a bare economic calendar leaving investors treading cautiously ahead of major economic data. Key developments that could influence markets on Tuesday:France consumer confidence for November, Euro zone money M3 annual growth for October.

Persons: Shein, Asia's, Ankur Banerjee, Edmund Klamann Organizations: Ankur Banerjee, Traders, Japan's Nikkei, Adobe Digital, Insider Intelligence, Thomson Locations: Ankur, China, Singapore, Asia, Pacific, Japan, U.S, France

☆ Dollar slips on bets US rates have peaked
▼ + stars: | 2023-11-24 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. Currencies traded in a relatively narrow range with U.S. markets closing early the day after the U.S. Thanksgiving holiday. "I think what we're seeing is a classic case of the market taking the 'path of least resistance.'" The dollar index , which measures the U.S. currency with six peers, eased 0.4 % to 103.35 , staying close to the 2-1/2 month low of 103.17 touched earlier this week. German business morale improved for a third straight month in November, data showed.

Persons: Marcos Brindicci, Michael Brown, Jane Foley, Sterling, Saqib Iqbal Ahmed, Ankur Banerjee, Joice Alves, David Evans, Jason Neely, Richard Chang Organizations: REUTERS, U.S, Trader, P Global, Rabobank, Federal, ING, Thomson Locations: Buenos Aires, Argentina, London, Germany, Singapore

☆ Dollar eases on bets US rates have peaked
▼ + stars: | 2023-11-24 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. "I think what we're seeing is a classic case of the market taking the 'path of least resistance'," Brown said. The dollar index , which measures the U.S. currency with six peers, eased 0.3% to 103.43, staying close to the two-and-a-half month low of 103.17 it touched earlier this week. Elsewhere, the Japanese yen was about flat against the dollar at 149.53, after strengthening following data that showed Japan's core consumer price growth picked up slightly in October. Separate data showed German business morale improved for a third straight month in November.

Persons: Marcos Brindicci, Michael Brown, Brown, X's Brown, Sterling, Saqib Iqbal Ahmed, Ankur Banerjee, Joice Alves, David Evans, Jason Neely Organizations: REUTERS, U.S, Trader, P Global, Federal, ING, Thomson Locations: Buenos Aires, Argentina, London, U.S, Germany, Singapore

With U.S. markets closed on Thursday for the Thanksgiving holiday and due for a shorter Black Friday trading session, currencies are trading narrowly as liquidity is expected to remain thin. The bank will "then begin its first rate hike in Q2 2024 if wage growth continues to accelerate next year". The nationwide core consumer price index (CPI), which excludes volatile fresh food costs, rose 2.9% year-on-year in October, government data showed on Friday, against 3.0% expected by economists in a Reuters poll. Separate data showed German business morale improved for a third straight month in November. Sterling rose for a second consecutive day, up 0.2% to $1.2559, after data showed on Thursday that British companies returned to growth in November, fuelling hopes Britain will avoid a recession.

Persons: Marcos Brindicci, Jefferies, Mohit Kumar, Sterling, Ankur Banerjee, Joice Alves, Jan Harvey, David Evans Organizations: REUTERS, Bank of Japan, U.S, Federal, Fed, European Central Bank, Bank of England, ING, Thomson Locations: Buenos Aires, Argentina, SINGAPORE, Germany, Singapore, London

☆ Dollar defensive as markets weigh US rates outlook
▼ + stars: | 2023-11-24 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. The dollar index , which measures the U.S. currency with six peers, eased 0.029% to 103.73, staying close to the two-and-a-half month low of 103.17 it touched earlier this week. The Australian dollar rose 0.14% to $0.657, while the kiwi rose 0.07% to $0.605. The yield on the 30-year Treasury bond rose 2.8 basis points to 4.576%. Reporting by Ankur Banerjee in Singapore; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Marcos Brindicci, Sterling, Cash Treasuries, Ankur Banerjee, Jacqueline Wong Organizations: REUTERS, Rights, U.S, Federal, Fed, Bank of Japan, ING, Treasury, Thomson Locations: Buenos Aires, Argentina, Rights SINGAPORE, Germany, Asia, Singapore

☆ Morning Bid: Caution prevails as Gaza truce begins
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 13, 2023. Futures indicated European bourses were set for a muted open and with a bare economic calendar, markets are likely to drift as holiday season kicks off. For British consumers though, Black Friday is likely to be about hunting for refurbished and pre-owned bargains to save cash. Israel and Hamas start a four-day truce on Friday morning with the release of a first group of 13 Israeli women and child hostages expected later in the day. Reuters GraphicsKey developments that could influence markets on Friday:Germany's Q3 GDP data, German lfo business climate data for NovemberReporting By Ankur Banerjee; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Ankur Banerjee, clawing, Jacqueline Wong Organizations: REUTERS, Staff, Ankur, Bank of Japan, Barclays, Reuters, Hamas, World Health Organization, Thomson Locations: Frankfurt, Germany, Israel, Asia, Pacific, Japan, Tokyo

☆ Stocks in Asia hit 2-month high, dollar defensive on Fed view
▼ + stars: | 2023-11-21 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.97% higher at 510.11 having touched 511.05, the highest since Sept. 18. In rest of Asia, Japan's Nikkei (.N225) edged higher and remained close to the 33-year high it toucehd on Monday. The Japanese yen strengthened 0.22% to 148.03 per dollar, lifting away from the one-year low of 151.92 it touched last week. The Australian dollar , often seen as a barometer of risk appetite, touched a three-month high of $0.65775 earlier in the session.

Persons: Issei Kato, DAX, Wall, Sam Altman, Ben Bennett, Nicholas Chia, murmurs, Hong, HSI, Brent, Ankur Banerjee, Jacqueline Wong, Lincoln Organizations: REUTERS, Rights, . Federal, Nvidia, Microsoft, Stock, Traders, Legal, General Investment Management, Standard Chartered, Japan's Nikkei, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, Europe, Thursday's U.S

☆ Morning Bid: Risk rally rages on
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 20, 2023. The dollar index , which measures the U.S. currency against six of its peers, fell to its lowest since Aug. 31. A Reuters poll showed analysts expect the index to continue its more-than-28% rally this year into 2024 to reach a three-decade high of 35,000 by end-June. With the economic calendar bare in Europe, the rally may fizzle out although futures indicate European stock markets are set for a slightly higher open. The spotlight will shine bright on earnings from artificial intelligence chip leader Nvidia (NVDA.O), with expectation of another blockbuster revenue forecast.

Persons: Ankur Banerjee, OpenAI, Emmett Shear, Sam Altman, Jacqueline Wong Organizations: REUTERS, Staff, Ankur, Federal, Lower Treasury, Japan's Nikkei, Nvidia, Microsoft, Reuters, Palestinian, Thomson Locations: Frankfurt, Germany, Asia, Pacific, Japan, Lower, Europe, Israel, Gaza, Canada

☆ Asian stocks hit 2-month high on Wall St rally, Fed view
▼ + stars: | 2023-11-21 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.91% higher at 509.82 having touched 510.42, the highest since Sept. 18. The index is up 7% for the month and on course for its biggest monthly gain since January. The index is up roughly 28% this year, making it the best performing stock market in Asia. Lower yields kept the dollar on the back foot, with the dollar index , which measures the U.S. currency against a basket of six major currencies, down 0.058% at 103.37. The Australian dollar , often seen as a barometer of risk appetite, touched a three-month high of $0.65775 earlier in the session.

Persons: Kim Kyung, Hong, HSI, Wall, Sam Altman, Ben Bennett, Rob Carnell, Brent, Ankur Banerjee, Jacqueline Wong Organizations: Nikkei, REUTERS, Rights, . Federal, Japan's Nikkei, Microsoft, Nvidia, Stock, Traders, Legal, General Investment Management, Treasury, OPEC, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, Thursday's U.S, Russia, U.S, China

Alibaba Group's Hong Kong shares closed down 10%, their biggest single-day drop in more than a year. Some analysts said keeping the cloud unit could assist Alibaba's AI push. But (it) also points to the increasing importance of retaining the cloud unit given the surging demand for AI computing in China," said US Tiger Research analyst Bo Pei. Alibaba reported second-quarter revenue of 224.79 billion yuan ($31.01 billion), in line with the 224.32 billion expected by analysts, LSEG data showed. The company also said it will press ahead with a listing of Alibaba's logistics arm, Cainiao, which applied for a Hong Kong initial public offering in September.

Persons: Group's, Jon Withaar, Alibaba, Joseph Tsai, Aly, Jack Ma, Kenneth Fong, Bo Pei, Eddie Wu, Daniel Zhang, Vey, Sern Ling, Donny Kwok, Josh Ye, Casey Hall, Gu Li, Yelin, Ankur Banerjee, Anne Marie Roantree, Brenda Goh, Muralikumar Anantharaman Organizations: HK, Pictet Asset Management, Tencent Holdings, Artificial Intelligence, REUTERS, UBS, Tiger Research, Union Bancaire, Hong, Thomson Locations: HONG KONG, China, Hong Kong, Asia, U.S, Singapore, Washington, Hangzhou, Shanghai, Alibaba, Union, Yelin Mo, Beijing

☆ Asia stocks meander, yen fragile ahead of US inflation data
▼ + stars: | 2023-11-14 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.23% higher, on course for its second straight day of gains. The Japanese yen was at 151.71 per dollar in Asian hours, having touched a one-year low of 151.92 on Monday. Investors are waiting for the U.S. inflation report, due later in the day, after Federal Reserve Chair Jerome Powell and other policymakers said they are still not sure that interest rates are high enough to tame inflation. Japan last intervened in the currency market - selling dollars and buying yen - in October last year. The dollar index , which measures the U.S. currency against six rivals, was up 0.057% at 105.69.

Persons: Shunichi Suzuki, DAX, Jerome Powell, Anderson Alves, Moody's, Fitch, Gary Dugan, YEN, Nicholas Chia, Brent, Ankur Banerjee, Shri Navaratnam Organizations: Japanese Finance, Federal, Reuters, U.S, AAA, Dalma Capital, Standard Chartered, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, China, U.S, New York

☆ Asia stocks rise ahead of US inflation data; yen stumbles
▼ + stars: | 2023-11-14 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.49% higher, while Tokyo's Nikkei (.N225) gained 0.36%. The Japanese yen was at 151.71 per dollar in Asian hours, having touched a one-year low of 151.92 on Monday. The U.S. inflation report, due later in the day, has investors' attention on Tuesday, especially after Federal Reserve Chair Jerome Powell and policymakers have said they are still not sure that interest rates are high enough to tame inflation. YEN WATCH RESUMESThe yen's broad decline has traders back to keeping an eye on whether the Japanese authorities will intervene. The dollar index , which measures the U.S. currency against six rivals, was up 0.057% at 105.69.

Persons: Australia's, Shunichi Suzuki, Jerome Powell, Anderson Alves, HSI, Fitch, Gary Dugan, Dugan, YEN, Nicholas Chia, Brent, Ankur Banerjee, Shri Navaratnam Organizations: Tokyo's Nikkei, Japanese Finance, Federal, Reuters, U.S, AAA, Dalma, Standard Chartered, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, U.S, China, New York

☆ Morning Bid: Frail yen teeters as US CPI looms
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +3 min

Economists polled by Reuters expect headline U.S. consumer price inflation to slow to 3.3% in October from 3.7% in September, with the core inflation rate that strips out volatile components seen unchanged from September at 4.1%. If the battered currency breaks through last year's trough of 151.94, it would mark a 33-year low. In the corporate world, investors will keep an eye on Europe's most valuable company, Novo Nordisk (NOVOb.CO). Shares of the Danish drugmaker rose on Monday after data showed that the heart-protective benefits of its popular obesity drug Wegovy are not solely due to weight loss. Key developments that could influence markets on Tuesday:Economic events: UK average weekly earnings for September, Euro Zone Q3 flash GDP, Euro Zone employment flash Q3Reporting by Ankur Banerjee; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Persons: Ankur Banerjee, David Cameron's, Jerome Powell, Shunichi Suzuki, Edmund Klamann Organizations: U.S, Japan, Ankur, Reuters, Federal Reserve, Japanese Finance, Novo Nordisk, Walmart, Thomson Locations: Tokyo, Japan, Britain, Danish

☆ 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

☆ Morning Bid: 'Not confident' Powell drags markets lower
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +3 min

Since the Fed left rates unchanged last week, markets had increasingly grown confident that the peak in U.S. rates was in sight. But up stepped Powell to squash any hopes of an impending rate cut. "[The Fed] is committed to achieving a stance of monetary policy that is sufficiently restrictive to bring inflation down to 2% over time," Powell said. That led stocks lower, with MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) skidding 1% to their lowest in a week. The rise in yields boosted the dollar, which is headed for its best week against the yen in three months.

Persons: Jerome Powell, Kevin Lamarque, Ankur Banerjee, Powell, Christine Lagarde, Walt Disney, policymaker Joachim Nagel, SNB's Thomas Moser, Edmund Klamann Organizations: Monetary Fund's, REUTERS, Ankur, European bourses, Treasury, Industrial, Commercial Bank of China's, U.S . Treasury, Reuters, Thomson Locations: Washington , U.S, Asia, Pacific, Japan, European, U.S, Commercial Bank of China's U.S, Norway, Sweden

☆ 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

☆ Morning Bid: Range-bound markets awaits Powell - again
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +3 min

Federal Reserve Board Chair Jerome Powell answers a question during a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., November 1, 2023. At a separate event on Wednesday, European Central Bank chief economist Philip Lane said his bank needs to see further progress in dampening inflationary pressure, and companies along with governments need to chip in to prevent more policy tightening. "A decrease in the policy rate is not something that is likely to happen in the short term," he said. The approval paves the way for a powerful rival to blockbuster drug Wegovy in addressing record obesity rates. Ping An subsequently said in a statement to Reuters it had "not been asked by (the) Government to take over Country Garden".

Persons: Jerome Powell, Kevin Lamarque, Ankur Banerjee, Powell, Philip Lane, Patrick Harker, Huw Pill, Eli Lilly's, Ping, Merck KGaA, BOE, Christopher Cushing Organizations: Federal, Committee, REUTERS, Ankur, U.S, European Central Bank, . Federal Reserve Bank of Philadelphia, Bank of England, Investors, Novo Nordisk, Reuters, Ping An Insurance, Government, HK, AstraZeneca, Merck, Deutsche Telekom Speakers, Thomson Locations: Washington , U.S, Asia, Guangdong, Ping, Singapore

☆ Dollar bounces after sharp selloff, weak data hurts euro
▼ + stars: | 2023-11-07 | by ( Karen Brettell | ) www.reuters.com time to read: +4 min

U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. "If you look at the percentage of currencies that have been down versus the dollar over the last 26 weeks, it was approaching 100%, and data also showed very long dollar positioning ... Traders are now pricing in only a slim chance of a further interest rate increase by the Fed and see three 25-basis-point rate cuts by next November. The euro fell 0.20% to $1.0695 after data showed a larger-than-expected fall in German industrial production in September. The yen softened to 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.

Persons: Dado Ruvic, Marc Chandler, Jerome Powell, Chester Ntonifor, Chandler, Powell, Christopher Waller, Michelle Bowman, Neel Kashkari, Austan Goolsbee, Fiona Cincotta, Karen Brettell, Alun John, Ankur Banerjee, Paul Simao, Mark Heinrich Our Organizations: REUTERS, U.S ., Australian, greenback, Fed, Bannockburn Global, BCA Research, Traders, . Minneapolis, Chicago Fed, PMI, Index, Reserve Bank of Australia, Thomson Locations: Tokyo, U.S, Bannockburn, New York, London, Singapore

[1/2] FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. MSCI's gauge of global stock performance (.MIWD00000PUS) shed 0.05%, while the pan-European STOXX 600 index (.STOXX) lost 0.06%. Against a basket of currencies, the dollar index rose 0.332% to 105.61, with the euro down 0.31% to $1.0682. Treasury yields slid, having unwound some of their rally last week after the Fed left rates unchanged following a policy meeting. The two-year's yield, which reflects interest rate expectations, fell 1.3 basis points to 4.928%, while the 10-year slipped 7.5 basis points at 4.587%.

Persons: Toby Melville, Jerome Powell, Neel Kashkari, Austan Goolsbee, Rick Meckler, we've, Michael Hewson, Brent, Tom Wilson, Tom Westbrook, Ankur Banerjee, Lincoln, Kim Coghill, Christina Fincher, Jonathan Oatis Organizations: London Stock Exchange Group, City of, REUTERS, NEW, Federal Reserve, Minneapolis, Chicago, Cherry Lane Investments, Dow Jones, Nasdaq, Reserve Bank of Australia, Treasury, Fed, CMC, Thomson Locations: City, City of London, Britain, China, Saudi Arabia, Russia, Europe, U.S, New Vernon , New Jersey, Asia, Pacific, Japan, London, Singapore

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