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☆ The Fed can 'afford to be more patient' with rate cuts, strategist says
▼ + stars: | 2024-05-17 | 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 EmailThe Fed can 'afford to be more patient' with rate cuts, strategist saysJeff Ng, head of Asia macro strategy at Sumitomo Mitsui Banking Corporation, discusses the monetary policy divergence between the United States and Europe.

Persons: Jeff Ng Organizations: Sumitomo Mitsui Banking Corporation Locations: Asia, United States, Europe

☆ Euro bounces as investors cling to sliver of positive euro zone data
▼ + stars: | 2023-11-23 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

REUTERS/Marcos Brindicci/File Photo Acquire Licensing RightsLONDON, Nov 23 (Reuters) - The euro rose on Thursday for the first time this week, after data suggested the downturn in the euro zone economy may be starting to ease, although holidays in the United States and Japan kept trading activity muted. The euro rose broadly, gaining the most against the Swedish crown , after the Swedish central bank left rates unchanged, while also gaining on the yen and the Swiss franc. The survey showed the euro zone economy is on track to contract again in the fourth quarter. Its PMI rose to 43.8 from 43.1, beating the poll expectation for 43.4 but was still below breakeven. Sterling was last up 0.5% on the day at $1.2558, having risen to a high of $1.2575 after the PMI data.

Persons: Marcos Brindicci, There's, Michael Brown, Brown, Geert Wilders, Sterling, Jeremy Hunt, Jeff Ng, Changpeng Zhao, Vidya Ranganathan, Lincoln, Emelia Organizations: REUTERS, Swiss, PMI, European Central Bank, Fed, University of Michigan, Sumitomo Mitsui Banking Corporation, Markets, Bank of Japan, Thomson Locations: Buenos Aires, Argentina, United States, Japan, Germany, Swedish, EU, Wednesday's, Netherlands, Asia, Singapore

☆ Holiday thins trading after data slows dollar's decline
▼ + stars: | 2023-11-23 | by ( Vidya Ranganathan | ) www.reuters.com time to read: +4 min

With markets shut in Japan and the United States for the Thanksgiving holiday, currencies barely moved and cash U.S. Treasuries weren't traded in Asia. By 0530 GMT, however, the euro was 0.15% higher at $1.0902 and the dollar index was a tad weaker at 103.71. Adding to investors' confusion, data showed orders for long-lasting U.S. manufactured goods fell more than expected in October, signalling an economy cooling considerably after hot third-quarter growth. The dollar's rebound comes after a three-week long spell of weakness driven by evidence of a slowing economy and disinflation, leading markets to price out any additional Fed rate hikes. The forward-looking flash November purchasing manager indexes (PMIs) are also due out globally on Thursday and should help investors assess recession risks and how quickly rate cuts will begin.

Persons: Marcos Brindicci, Treasuries weren't, Jeff Ng, Treasuries, policymaker Mario Centeno, Joachim Nagel, Sterling, Jeremy Hunt, Changpeng Zhao, Vidya Ranganathan, Lincoln Organizations: REUTERS, Rights, U.S, Federal, University of Michigan, Sumitomo Mitsui Banking Corporation, Fed, Bank of Japan, European Central Bank, Governing, PMI, Thomson Locations: Buenos Aires, Argentina, Rights SINGAPORE, Japan, United States, Asia, Britain, U.S

☆ Holiday thins trading after data nudges dollar higher
▼ + stars: | 2023-11-23 | by ( ) www.cnbc.com time to read: +4 min

With markets shut in Japan and the United States for the Thanksgiving holiday, currencies barely moved and cash U.S. Treasuries weren't traded in Asia. The dollar index rose overnight, bouncing from a 2-1/2 month low, after economic data showed the number of Americans filing new claims for unemployment benefits fell more than expected last week. The weakness in the dollar has buoyed the yen , along with expectations the Bank of Japan may shift away from its ultra-loose monetary policy next year. The dollar index was just 0.03% lower at 103.84, with the euro unchanged at $1.0887. The forward-looking flash November purchasing manager indexes, or PMIs, are also due out globally on Thursday and should help investors assess recession risks and how quickly rate cuts will begin.

Persons: Treasuries weren't, Jeff Ng, Treasuries, policymaker Mario Centeno, Joachim Nagel, Sterling, Jeremy Hunt, Changpeng Zhao Organizations: U.S ., Federal Reserve, University of Michigan, Sumitomo Mitsui Banking Corporation, Fed, Bank of Japan, European Central Bank, Governing, PMI Locations: Japan, United States, Asia, Britain, U.S

☆ Markets seem to be pricing in the possibility of a UK rate cut beyond six months, strategist says
▼ + stars: | 2023-11-03 | 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 EmailMarkets seem to be pricing in the possibility of a UK rate cut beyond six months, strategist saysJeff Ng, head of Asia macro strategy at SMBC Asia Pacific, says, however, there's still a case for high interest rates to be on hold in the next three to six months as inflation is still "relatively high" in the U.K.

Persons: Jeff Ng, there's Organizations: SMBC Asia Locations: Asia

☆ 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

☆ The Chinese yuan is unlikely to get much worse from now, analyst says
▼ + stars: | 2023-05-18 | 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 EmailThe Chinese yuan is unlikely to get much worse from now, analyst saysJeff Ng of MUFG Bank discusses the outlook for the currency and the country's economy.

☆ The Bank of Japan will probably act 'relatively independently' of the Fed, analyst says
▼ + stars: | 2023-03-29 | 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 EmailThe Bank of Japan will probably act 'relatively independently' of the Fed, analyst saysJeff Ng of MUFG Bank discusses how the Japanese yen might be affected by market volatility in the event of another U.S. Federal Reserve interest rate hike.

☆ Singapore core inflation steady at 5.5%, focus on April policy review
▼ + stars: | 2023-03-23 | by ( Chen Lin | ) www.reuters.com time to read: +2 min

February's core inflation rate - which excludes private road transport and accommodation costs - compared with a forecast in a Reuters poll of economists for a 5.8% increase in February. However, the inflation rate in February is still at the same level as in January, which was the fastest pace seen since November, 2008. MAS has said core inflation was likely to stay at about 5% for the early part of 2023. It has also projected a core inflation rate of between 3.5% to 4.5% in 2023, with headline inflation coming in at between 5.5% and 6.5%. While analysts said inflation in February was below their forecasts, there were divisions over the implications for a monetary policy review MAS will conduct in April.

☆ Markets did not overreact to Bank of Japan chief Kuroda's final meeting, analyst says
▼ + stars: | 2023-03-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets did not overreact to Bank of Japan chief Kuroda's final meeting, analyst saysJeff Ng of MUFG Bank says markets were "slightly disappointed," and the dollar-yen was still below the 137 level.

☆ Bank of Japan showed no sign of making a hawkish shift in its January meeting
▼ + stars: | 2023-01-26 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

Nationwide core inflation in Japan reached 4% in December, the highest annualized print since December 1981, according to data released last week. Yuichi Yamazaki | Afp | Getty ImagesThe Bank of Japan emphasized that it wants to maintain its current monetary policy, including leaving its yield curve control unchanged, according to the Summary of Opinions from its last meeting published Thursday. The "yield curve control" refers to a policy of the Japanese central bank that's designed to keep the 10-year yield on Japanese Government Bonds (JGBs) within 0.5 percentage points of zero. The central bank continued its operations to purchase Japanese government bonds in response to upward pressure on yields. I think a lot will depend on, for instance, the inflation data in the coming months," he told CNBC's "Street Signs Asia."

☆ Analyst says he's not expecting any near-term changes to the Bank of Japan's monetary policy
▼ + stars: | 2022-10-25 | 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 EmailAnalyst says he's not expecting any near-term changes to the Bank of Japan's monetary policyJeff Ng of the bank says if the Bank of Japan's new governor is less dovish, it could help the yen rebound by the end of 2022.

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