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☆ Yen steadies, dollar slips as China reaches for stimulus
▼ + stars: | 2024-09-30 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen banknotes and U.S. one-hundred dollar banknotes are arranged for a photograph in Tokyo, Japan. The yen slipped about 0.4% to 142.75 per dollar after jumping 1.8% on Friday. European inflation data on Tuesday and Chinese data due later on Monday are also keenly awaited. The New Zealand dollar was up 0.3% at $0.6360 after hitting its highest since December on Friday. "The trend over next year or so is for the dollar to go down," said Commonwealth Bank of Australia strategist Joe Capurso.

Persons: Shigeru Ishiba, Ishiba, Ray Attrill, Joe Capurso Organizations: Liberal Democratic Party, NHK, Bank of Japan, National, New, New Zealand, U.S, U.S . Federal, Commonwealth Bank of Australia Locations: Tokyo, Japan, National Australia, China, U.S .

After an initial rise, sterling fell as much as 0.56% against the dollar to a low of $1.2691 following this month's inflation figures. Investors and money managers now turn their focus to Fed chief Jerome Powell's testimony before Congress at 10:00 a.m. "The former may do more to give additional support to send the dollar index and (bond) yields higher." The rally against the yen pushed the U.S. dollar index , which measures the currency against six major peers, up slightly to 102.58. "The Aussie could dip below 0.6700 this week, particularly if Powell is hawkish," he said.

Persons: Powell, Jerome Powell's, Adam Cole, Kazuo Ueda, Tuesday's, Joe Capurso, Bitcoin, Charles Schwab, Tom Westbrook, Farouq Suleiman, Sam Holmes, Kim Coghill, Sharon Singleton Organizations: Federal, RBC Capital Markets, Bank of Japan, U.S, Commonwealth Bank of Australia, Fidelity, Citadel Securities, Thomson Locations: SINGAPORE, LONDON, Asia, Pacific, China, Tokyo

☆ Dollar firm ahead of Powell testimony, sterling up on hot inflation
▼ + stars: | 2023-06-21 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Sterling briefly rose as far as 0.3% against the dollar to $1.2803 before settling back to $1.2765. It also rose slightly on the euro and yen , as traders were betting the Bank of England would need to take rates higher. Powell is due to begin his testimony before Congress at 1400 GMT. "The former may do more to give additional support to send the dollar index and yields higher." "The Aussie could dip below 0.6700 this week, particularly if Powell is hawkish," he said.

Persons: Powell, Jerome Powell's, Sterling, Tuesday's, Joe Capurso, steadying, Charles Schwab, Tom Westbrook, Sam Holmes, Kim Coghill Organizations: Federal, Bank of England, Bank of Japan, Fed, Commonwealth Bank of Australia, New Zealand, U.S, Fidelity, Citadel Securities, Thomson Locations: SINGAPORE, Asia, China, Tokyo

☆ Dollar finds footing on housing data as yuan falters
▼ + stars: | 2023-06-21 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SummarySummary Companies U.S. housing starts surge; dollar drifts higherTraders await UK CPI and Powell testimonySINGAPORE, June 21 (Reuters) - The U.S. dollar was firm in Asia trade on Wednesday following surprisingly strong U.S. housing data, while the yuan and Aussie dollar nursed losses and focus turned to Federal Reserve Chair Jerome Powell's appearance before Congress later in the day. The yen was also firm at 140.50 per dollar ahead of an appearance by Bank of Japan Governor Kazuo Ueda on Wednesday. The Aussie and yuan were Tuesday's largest losers and were in no mood for a bounce early on Wednesday. The yuan fell about 0.3% overnight and in offshore trade early on Wednesday the currency was pinned at 7.1826 per dollar, near a seven-month low. It is under pressure after the central bank flagged it was finished with hikes, while data showed the economy in recession.

Persons: Powell, Jerome Powell's, they'd, Kazuo Ueda, Li Qiang, Tuesday's, Joe Capurso, steadying, Mieneke Perniskie, Sterling, Daniela Hathorn, Bitcoin, Citadel Securites, Charles Schwab, Tom Westbrook Organizations: CPI, U.S, Federal, Traders, Bank of Japan, Commonwealth Bank of Australia, New Zealand, Bank of England, Fidelity, Citadel, Thomson Locations: SINGAPORE, Asia, China, Europe, Kiwibank, Wellington

The euro, meanwhile, dropped to a six-week low versus the dollar at $1.0811 . Wednesday's data showed that U.S. single-family homebuilding increased in April, but data for the prior month was revised sharply lower. Single-family housing starts, which account for the bulk of homebuilding, rose 1.6% to a seasonally-adjusted annual rate of 846,000 units last month. In late morning trading, the dollar rose 0.7% versus the yen to 137.37 yen, after earlier climbing to a two-week peak of 137.445 . In the offshore market, the dollar rose 0.2% to 7.00911 .

SINGAPORE, May 17 (Reuters) - The dollar rose on Wednesday, benefiting from its status as a safe-haven amid the risk of a U.S. debt default and as traders trimmed bets on imminent Federal Reserve rate cuts following solid consumer spending data in the United States. Against a basket of peers, including the euro, yen and sterling, the dollar index rose 0.3% to 102.96, to its highest since early April. Expectations for U.S. interest rate cuts any time soon were dampened by the solid increase in April consumer spending, and by comments from Fed officials. "A rate hike is possible this year, though the hurdle is high." The New Zealand dollar was broadly steady at $0.6232, with investors looking ahead to a 25 bp interest rate hike next week and perhaps one more after that.

☆ U.S. debt drama and data hoist dollar
▼ + stars: | 2023-05-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

The dollar hit a two-week peak of 136.69 yen overnight and hovered just below that at 136.54 in the Asia day. Expectations for U.S. interest rate cuts any time soon were dampened by the solid increase in April consumer spending, and by hawkish comments from Federal Reserve officials. "We expect some modest further increases in the dollar as markets continue to take out pricing for rate cuts," said Commonwealth Bank of Australia strategist Joe Capurso. "A rate hike is possible this year, though the hurdle is high." The New Zealand dollar was broadly steady at $0.6244, with investors looking ahead to a 25 bp interest rate hike next week and perhaps one more after that.

☆ Data and debt ceiling hoist dollar
▼ + stars: | 2023-05-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Data showed U.S. consumer spending appeared to have increased solidly in April, which together with hawkish remarks from Federal Reserve officials weighed on bonds and against expectations that interest rate cuts are coming soon. Interest rate futures pricing implies no chance of a rate cut in June, down from about a 17% chance seen a month ago. "Market participants continue to lower pricing for near term rate cuts by the FOMC," said Commonwealth Bank of Australia strategist Joe Capurso. "We expect some modest further increases in the dollar as markets continue to take out pricing for rate cuts. The New Zealand dollar was broadly steady at $0.6239, with investors looking ahead to a 25 bp interest rate next week and perhaps one more after that.

☆ Stocks stumble in jittery mood ahead of US inflation
▼ + stars: | 2023-05-10 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

S&P 500 futures were steady and European futures rose 0.1%. "That's the thing that'd get taken out if CPI numbers come in on the higher side," said ING economist Rob Carnell. "It doesn't look particularly sensible if inflation is falling at too slow a rate and that could feed through into higher longer-term treasury yields as well." Interest rate futures imply about a 60% chance the Federal Reserve cuts rates in September, according to the CME FedWatch tool. "But the debt ceiling drama, and market participants’ focus on rate cuts is unlikely to change much from one CPI report.

☆ Morning Bid: Markets on hold for US CPI
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Tom WestbrookSterling and the euro seem to be losing steam as currency markets tuck themselves in for a nap. Today's inflation data, due at 1230 GMT, could offer a jolt if the surprise factor is big enough. Economists polled by Reuters see core CPI steady at a monthly 0.4%. Beyond the inflation data, U.S. default risks and banking wobbles loom as the next likely focus. Key developments that could influence markets on Wednesday:U.S. CPI dataReporting by Tom Westbrook; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks stumble as investors' nerves show ahead of US inflation data
▼ + stars: | 2023-05-10 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

SINGAPORE, May 10 (Reuters) - Stocks were struggling to advance in Asia and the dollar was firm on Wednesday ahead of U.S. consumer price data that could damage hopes for interest rate cuts later this year if inflation fails to show much of a decline. Overnight the S&P 500 (.SPX) fell 0.5% and S&P 500 futures were steady in the Asian morning. A firm U.S. dollar pushed the euro back below $1.10 to $1.0971. Treasuries were broadly steady overnight, though debt-ceiling brinkmanship is warping the bills market as investors avoid bills maturing early in June. The dollar was also firm at 135.14 yen and has lifted slightly from recent lows on the Aussie , kiwi and sterling .

☆ Stocks ease; Aussie dollar soars after surprise hike
▼ + stars: | 2023-05-02 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

"No one is going to want to do too much before we get to that FOMC decision. "One of the things that sticks out to me is that they're still saying they might need to increase interest rates," said Commonwealth Bank of Australia strategist Joe Capurso. "So as well as the increase today, that's supporting the Aussie dollar," he said. The U.S. dollar was steady against a basket of major currencies , while the euro eased 0.1% to $1.097. But markets are still anxious about what may be the next crisis, even if the initial response has been positive.

☆ Stocks on edge, Aussie surges after RBA surprise
▼ + stars: | 2023-05-02 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, May 2 (Reuters) - Asian shares wobbled in cautious trade on Tuesday ahead of a series of data releases and central bank meetings, which began with a surprise rate hike in Australia that boosted the local dollar. Markets were positioned for Australia's central bank to stay on hold and a 25 basis point hike sent the Aussie dollar up about 0.8% to its highest in a week at $0.6692. Three-year Aussie government bond yields also jumped, while Australian stocks (.AXJO) slipped 0.7%. "So as well as the increase today, that's supporting the Aussie dollar," he said, though he warned that could unwind as there's a "reasonable chance" the Federal Reserve takes a similar approach at its meeting on Wednesday. Two-year Treasury yields , which track short-term U.S. rate expectations were steady at 4.1451% in Asia.

☆ Dollar finds footing as focus turns to Europe inflation
▼ + stars: | 2023-03-02 | by ( ) www.cnbc.com time to read: +3 min

The dollar lost 0.9% on the euro on Wednesday, its sharpest drop in a month. It was about 0.2% firmer on the euro on Thursday, with the common currency at $1.0649 in Asia trade ahead of inflation data due at 1000 GMT. The New Zealand dollar which rose 1.2% on Wednesday, fell 0.4% on Thursday to $0.6230. China's yuan settled back to 6.8928 to the dollar after logging its biggest jump of 2023 on Wednesday. Besides European inflation, euro zone employment and central bank minutes are due later in the day, as is U.S. jobless claims data.

☆ Dollar squeezed as inflation drives up euro
▼ + stars: | 2023-03-02 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Euro zone inflation data is due later in the day. The yen hardly budged but the dollar made broad falls on Asian currencies as it retreats from recent highs. On Thursday the yen was a tad stronger at 136.04 to the dollar in early trade while the Australian dollar held Wednesday gains made despite softer-than-expected growth data and some hints that inflation may have peaked. "We consider the Australian dollar can increase materially in the weeks after China's Two Sessions meetings," he said. Besides European inflation, euro zone employment and central bank minutes are due later in the day, as is U.S. jobless claims data.

☆ Dollar finds friends after sticky U.S. inflation readout
▼ + stars: | 2023-02-15 | by ( Tom Westbrook | ) www.reuters.com time to read: +2 min

SINGAPORE, Feb 15 (Reuters) - The dollar found some support on Wednesday after stubbornly high U.S. inflation suggested interest rates are going to remain high for longer than investors had expected. The U.S. dollar climbed to a six-week high of 133.30 yen and sat not far below that at 132.73 early in the Asia session. "Inflation remains too high," Commonwealth Bank of Australia strategist Joe Capurso said. There is not much good news for (the Fed) that is looking for inflation to head down much further towards its 2% target." Federal Reserve officials said the U.S. central bank will need to keep gradually raising interest rates to beat inflation.

☆ Dollar stands firm while traders await CPI
▼ + stars: | 2023-01-11 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The U.S. dollar was steady elsewhere, loitering just above a seven-month low on the euro at $1.0737 in the lead-up to U.S. inflation data due on Thursday. The dollar was steady at 132.23 Japanese yen and $1.2161 per British pound . U.S. government bond yields, which have been attracting investors to the dollar, fell overnight and upbeat sentiment in equities lifted stockmarkets. "Another downward surprise to the core CPI would cement the deceleration trend," Commonwealth Bank of Australia strategist Joe Capurso said. The Singapore dollar has scaled 19-month highs this week and the Thai baht nine-month tops in anticipation of tourism picking up as China's borders open.

☆ Comments from market watchers on the COVID-19 protests in China
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +4 min

ALVIN TAN, ASIA FX STRATEGIST, RBC CAPITAL MARKETS, SINGAPORE:"The scale of the protests will necessarily elicit a response from Beijing. KEN CHEUNG, CHIEF ASIA FX STRATEGIST, MIZUHO, HONG KONG:"The China economy is heading to the direction of reopening but the road to the reopening could be a bumpy one. "Overall, the China Q4 growth outlook should remain grim given the COVID resurgence and the related mobility tightening. GARY NG, ECONOMIST, NATIXIS, HONG KONG:"The market does not like uncertainties that are difficult to price and the China protests clearly fall into this category. MARTIN PETCH, VICE PRESIDENT, MOODY'S INVESTORS SERVICE:"We expect the protests ... to dissipate relatively quickly and without resulting in serious political violence.

☆ Market watchers' comments on COVID-19 protests in China
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +6 min

Here's what market watchers are saying about the unrest:ALLAN VON MEHREN, CHIEF ANALYST, DANSKE BANK, COPENHAGEN:"Normally protests in China are aimed at local governments but a crowd in Shanghai directed their protest against the Communist Party and Xi Jinping." "The protests come as the recent tweaks in the zero-Covid policy seem to have backfired as they led to rising cases across the country that subsequently triggered new restrictions being implemented. MARK HAEFELE, GLOBAL WEALTH MANAGEMENT CIO, UBS, ZURICH:"We do not expect economic or market headwinds in China to abate significantly over the coming months. KEN CHEUNG, CHIEF ASIA FX STRATEGIST, MIZUHO, HONG KONG:"The China economy is heading to the direction of reopening but the road to the reopening could be a bumpy one. GARY NG, ECONOMIST, NATIXIS, HONG KONG:"The market does not like uncertainties that are difficult to price and the China protests clearly fall into this category.

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