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☆ Yen nurses losses as BOJ meets, dollar dogged by rate outlook
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen, left, and US 100 dollar banknotes arranged for a photograph in Tokyo, Japan, on Friday, May 10, 2024. It has been a tough week for the yen, with the euro gaining 2.2% to 159.46 as speculators booked profit on recent long yen positions. The dollar was up 1.4% for the week at 142.84 yen , though off an overnight high of 143.95. "As such, there is scope to further raise the policy rate while keeping financial conditions accommodative," she said. "The recent financial market ructions and the upcoming Liberal Democratic Party election may make the BOJ more cautious about raising."

Persons: Samara Hammoud, Kazuo Ueda, Sterling Organizations: Bank of, U.S ., CBA, 25bp, Liberal Democratic Party, U.S Locations: Tokyo, Japan, Bank of Japan, Samara, China, U.S . Federal, Bank of England

☆ China's deflation could spill over into a global concern, economists say
▼ + stars: | 2023-08-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

SHENZHEN, CHINA - MARCH 09: View of high commercial and residential buildings on March 9, 2016 in Shenzhen, China. "As a result, Chinese economic weakness and falling prices (especially Chinese producer prices) are likely to spill over into global markets — near-term good news for the Western central banks' fight against elevated inflation." "China's disappointing rebound is now feeding negatively into global sentiment and growth. Beyond the trade-related spillovers, a common global disinflationary pressure comes from commodity prices, where as a huge importer of commodities, Chinese domestic demand remains a key factor. "Weak Chinese domestic investment and broad-based excess capacity in manufacturing, as well as weak sales of new homes and land, are likely to continue to depress global commodity demand," Wilding and Liao said.

Persons: Zhong Zhi, Tiffany Wilding, Wilding, Carol Liao, Montgomery Koning, Liao, TS Lombard's Montgomery Koning Organizations: Getty, National Bureau, Statistics, Evergrande, TS Lombard, Lombard, U.S, Census, TS Lombard's Locations: SHENZHEN, CHINA, Shenzhen, China, U.S, Beijing, West, Germany

Hong Kong stocks such as Alibaba (9988.HK) and Tencent (0700.HK) are among the 24 stocks which will be priced and traded in both yuan and the Hong Kong dollar under the Dual Counter Model on the Hong Kong stock exchange (HKEX) from Monday. Offshore yuan deposits in Hong Kong alone are estimated at some 833 billion yuan ($117 billion). "Mainland investors, including mutual fund companies like us, have genuine incentives to trade Hong Kong stocks in yuan," said Ding of ChinaAMC. "There's lot of political uncertainty these days so you may want to hold yuan rather than U.S. dollars, or the Hong Kong dollar, which is pegged to the U.S. ($1 = 7.8217 Hong Kong dollars)Reporting by Samuel Shen and Georgina Lee; Editing by Vidya Ranganathan and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Ding Wenjie, Ding, it's, Dong Chen, YUAN, Sun, Kai Properties, ChinaAMC, David Friedland, Samuel Shen, Georgina Lee, Vidya Ranganathan, Kim Coghill Organizations: HK, Hong Kong, Hong, China, Fund, U.S ., Global Capital Investment, China Asset Management, The U.S, Pictet Wealth Management, AIA, Hang Seng Bank Ltd, Interactive Brokers, Thomson Locations: SHANGHAI, HONG KONG, Hong, Hong Kong, China, Brazil, Russia, Beijing, Moscow, Ukraine, The, Pakistan, Asia, Asia Pacific

☆ CME debuts offshore yuan options to tap rising trading demand
▼ + stars: | 2023-04-02 | by ( Georgina Lee | ) www.reuters.com time to read: +2 min

HONG KONG, April 3 (Reuters) - Chicago's CME Group (CME.O) opened options trading for Chinese yuan futures on Monday, as it looks to deepen a market that investors use for betting or hedging against moves in China's currency. Hong Kong has offered similar exchange-traded options since 2017, though bringing the product to CME - the world's biggest derivatives exchange - may be a step toward competing with the banks that dominate options by selling directly to customers. "We hope to see liquidity develop there that's comparable to the over-the-counter market," said Tim Brooks, London-based head of FX options at Optiver, which will deal in the new CME derivatives. The CME options have a range of expiry dates from weekly, to monthly or a year and are based on futures contracts with a notional amount of $100,000. CME is a much smaller yuan-trading hub than Hong Kong.

☆ Stocks pinned to lows as rate fears weigh
▼ + stars: | 2023-03-01 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Softer-than-expected growth and inflation data in Australia sent the Aussie dollar to a two-month trough at $0.6696 in early trade, but lifted the local stockmarket (.AXJO) from lows as traders wound back interest rate expectations. The mixed tone of data in the last few days seems to have lots of assets pausing at major chart levels. Two-year Treasury yields , a guide to short-term U.S. rate expectations, are close to four-month highs, but at 4.8407% are below a November peak of 4.8830%. Commodities steadied as China demand hopes balance global growth concerns, and Brent crude sat at $83.45 a barrel. "Should Beijing send Russia arms, it risks a rapid geopolitical breaking of the world economy," said Rabobank's research head, Jan Lambregts.

☆ Dollar eases against major currencies amid rate, economic concerns; yuan strengthens
▼ + stars: | 2022-12-07 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

[1/2] Banknotes of Chinese yuan and U.S. dollar are seen in this illustration picture taken September 29, 2022. REUTERS/Florence Lo/IllustrationNEW YORK, Dec 7 (Reuters) - The U.S. dollar weakened slightly against major currencies on Wednesday amid concerns that rising interest rates could push the U.S. economy into recession, while an easing of China's COVID restrictions boosted the yuan. A U.S. dollar index , which measures the greenback against a basket of currencies, was last down 0.2%. "Surging interest rates have the primary driver for dollar strength over the last year." The dollar was last down 0.1% against the offshore Chinese yuan .

☆ U.S. stocks slip as China sticks to pandemic policy
▼ + stars: | 2022-11-07 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

"With China going into winter, most analysts think a change in zero-COVID is unlikely until at least March." A little of that reversed on Monday, with the Aussie down 0.4% at $0.6440 after jumping 3% on Friday. The dollar was just a shade former on the yen at 146.77 yen , while the euro eased a fraction to $0.9944 . Markets are now waiting on Chinese trade data due later in the session for a guide on global demand. Oil futures lost some of their gains with Brent off $1.66 at $96.91, while U.S. crude dropped $1.85 to $90.76 per barrel.

☆ Asia stocks resilient as Wall Street slips, China trade disappoints
▼ + stars: | 2022-11-07 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

"With China going into winter, most analysts think a change in zero-COVID is unlikely until at least March." A little of that reversed on Monday, with the Aussie down 0.7% at $0.6421 after jumping 3% on Friday. S&P 500 futures dipped 0.2%, while Nasdaq futures lost 0.3%. EUROSTOXX 50 futures lost 0.2% and FTSE futures 0.6% amid reports the UK government was planning tax rises and spending cuts. Oil futures lost some of their recent gains with Brent off $1.07 at $97.50, while U.S. crude dropped $1.26 to $91.35 per barrel.

☆ U.S. stocks dip, dollar up as China sticks to pandemic policy
▼ + stars: | 2022-11-06 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

"With China going into winter, most analysts think a change in zero-COVID is unlikely until at least March." It also sent the yuan surging and triggered a round of profit taking on long U.S. dollar positions, particularly against commodity sensitive currencies such as the Australian dollar. The U.S. dollar index bounced 0.4% having dived almost 2% at the end of last week. Median forecasts are for annual CPI inflation to slow to 8.0% and for the core to dip a tick to 6.5%. Oil futures lost some of their gains with Brent off $1.79 at $96.78, while U.S. crude dropped $1.71 to $90.90 per barrel.

Markets are anticipating a potential slowdown in the pace of Fed hiking," said Lee Hardman a currency analyst at MUFG. The aggressive pace of Fed tightening has sent the dollar higher. Traders and economists predict another 75 basis point increase next Wednesday, but there is a growing view that it will slow to half a point in December. The benchmark 10-year U.S. Treasury yield continued its descent from last week's multi-year high of 4.338%, and was last down seven basis points at 4.038%. That would be the second consecutive reduction in the size of rate rises after a 100 basis point move in July and 75 basis points last month.

☆ Morning Bid: Eye of the storm
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Shannon Stapleton TPX IMAGES OF THE DAYA look at the day ahead in U.S. and global markets from Mike Dolan. As Hurricane Ian raged and set its sights on Cuba and Florida, a global financial storm in bond and currency markets calmed moderately - though likely only temporarily. read moreRegister now for FREE unlimited access to Reuters.com RegisterFor all its potential destruction, Ian doesn't yet appear on the world markets radar. UK debt auctions this week will be watched very closely. But this may be the eye of the storm.

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