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☆ Asia stocks drop to month low as US CPI fails to enthuse
▼ + stars: | 2023-08-11 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

The yen touched a six-week low of 144.89 per dollar in early trade, though volumes were thinned owing to a public holiday in Japan. Its stock markets were closed and Treasuries went untraded in the Asia session. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.7% with stocks in Hong Kong and China the biggest drag. Headline U.S. CPI was 0.2% last month, the same as a month earlier, and the details were encouraging - with core goods inflation slowing down and only rents proving stubbornly sticky. DOLLAR GAINSIn foreign exchange markets, choppy trade in the wake of the inflation data left the dollar on course for a weekly gain.

Persons: Issei Kato, Treasuries, Mary Daly, Andrew Lilley, Philip Lowe, Nozomu Ogawa, Sally Auld, JB, There's, HSI, Tom Westbrook, Muralikumar Anantharaman Organizations: REUTERS, SYDNEY, Headline U.S, CPI, San Francisco Fed, Yahoo Finance, Daiwa, Markets, HK, Chevron, Brent, Thomson Locations: Tokyo, Japan, U.S, Asia, Pacific, Hong Kong, China, Sydney, New York, Australia

A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoSummary OPEC flags healthy oil market fundamentals in second halfUS consumer prices rise moderately in JulyChina tips into deflation as efforts to stoke recovery falterBEIJING, Aug 11 (Reuters) - Oil prices fell marginally on Friday as investors weighed optimistic demand forecasts from the OPEC producer group against mixed economic data in top importer China. Brent crude fell 15 cents to $86.25 a barrel at 0515 GMT, while U.S. West Texas Intermediate crude futures were down 13 cents at $82.69 a barrel. Market sentiment was also lifted by Thursday's U.S. consumer prices data for July, which fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle. Data this week also showed China's consumer prices fell into deflation and factory gate prices extended declines in July, raising concerns about fuel demand in the world's second-largest economy.

Persons: Dado, Brent, Tina Teng, Teng, Baden Moore, Moore, Stephanie Kelly, Andrew Hayley, Shri Navaratnam, Simon Cameron Organizations: REUTERS, China, U.S, West Texas, CMC Markets, The, of Petroleum Exporting, Thursday's U.S, Federal Reserve, National Australia Bank, bbl, Thomson Locations: China, BEIJING, OPEC, Auckland, June's, Saudi Arabia, Russia, Ukraine, Baden, 2H23, New York, Beijing

A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoSummary OPEC flags healthy oil market fundamentals in second halfUS consumer prices rise moderately in JulyChina tips into deflation as efforts to stoke recovery falterBEIJING, Aug 11 (Reuters) - Oil prices were largely unchanged in Asian morning trade as investors weighed optimistic demand forecasts from the OPEC producer group against mixed economic data in top importer China. In 2024, "solid" economic growth amid continued improvements in China is expected to boost oil consumption, it added. Market sentiment was also lifted by Thursday's U.S. consumer prices data for July, which fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle. However, Teng also noted that "China’s sluggish economic data and the retreat on Wall Street weighs on risk sentiment, and a strengthened USD also pressured commodity prices".

Persons: Dado, Brent, Tina Teng, Teng, Baden Moore, Moore, Stephanie Kelly, Andrew Hayley, Shri Navaratnam, Simon Cameron Organizations: REUTERS, China, U.S, West Texas, CMC Markets, The, of, Petroleum, Thursday's U.S, Federal Reserve, National Australia Bank, bbl, Thomson Locations: China, BEIJING, OPEC, Auckland, June's, Saudi Arabia, Russia, Ukraine, Baden, 2H23, New York, Beijing

☆ Dollar steady after CPI data bolsters Fed pause bets; yen nears 145
▼ + stars: | 2023-08-11 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The Japanese yen eased 0.10% to 144.89 per dollar in early Asian hours, its lowest since June 30, when it also briefly breached 145 per dollar level, stoking investor fears of another round of interventions from the Japanese authorities. Japan intervened in September last year when the dollar rose past 145 yen, pushing the pair to around 140 yen as the Ministry of Finance bought the yen to weaken the dollar. "Market pricing currently favours a pause, but the market has underpriced the Fed’s actions before," Brandham cautioned. The Australian dollar rose 0.20% to $0.6534.

Persons: Florence Lo, Ryan Brandham, Brandham, Philip Lowe, Sterling, Ankur Banerjee, Shri Navaratnam Organizations: U.S, REUTERS, Federal, Ministry of Finance, Saxo Markets, Reuters, North America, Validus Risk, Reserve Bank of Australia, Thomson Locations: SINGAPORE, Japan, U.S, Singapore

Summary OPEC flags healthy oil market fundamentals in second halfUS consumer prices rise moderately in JulyChina tips into deflation as efforts to stoke recovery falterAug 11 (Reuters) - Oil prices edged higher on Friday on optimism from the OPEC producer group that oil demand will be robust in 2024 as it also nudged up its expectations for global economic growth. Brent crude rose 7 cents to settle at $86.47 a barrel at 0017 GMT, while U.S. West Texas Intermediate crude futures gained 12 cents at $82.94 a barrel. The Organization of the Petroleum Exporting Countries said on Thursday it expects world oil demand to rise by 2.25 million barrels per day (bpd) in 2024, compared with growth of 2.44 million bpd in 2023. In 2024, "solid" economic growth amid continued improvements in China is expected to boost oil consumption, it added. Also lifting market sentiment, Thursday's U.S. consumer prices data for July fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle.

Persons: Brent, Stephanie Kelly, Shri Navaratnam Organizations: U.S, West Texas, of, Petroleum, Federal Reserve, Thomson Locations: China, OPEC, Saudi Arabia, Russia, Ukraine, U.S

☆ Domino effect: India rice export ban puts market on edge for copycat curbs
▼ + stars: | 2023-08-11 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +6 min

New Delhi had already restricted lower quality broken rice supplies in 2022. In 2008, rice prices reached a record high above $1,000 per ton after India, Vietnam, Bangladesh, Egypt, Brazil and other small producers restricted exports. CHAIN REACTIONGlobal prices have risen by around 20% since India's ban. This week, rice prices in Thailand and Vietnam soared to 15-year highs as buyers rushed to cover shipments to compensate for the decline in India's exports. Rao said only Indian supplies can restore equilibrium in the global rice market.

Persons: Nitin Gupta, Trade Nguyen Hong Dien, Rice, B.V, Krishna Rao, Rao, Peter Clubb, Rajendra Jadhav, Naveen Thukral, Khanh Vu, Panarat, Shri Navaratnam Organizations: REUTERS, Olam Agri, Reuters Graphics, Reuters, of Industry, Trade, Rice, Association of Pakistan, Association of India, International Grains Council, Thomson Locations: Kolkata, India, MUMBAI, New Delhi, Thailand, Vietnam, Delhi, Asia, Africa, Olam Agri India, Bangladesh, Egypt, Brazil, Pakistan, Philippines, China, Senegal, Nigeria, South Africa, Malaysia, Cote d'Ivoire, El, London, Singapore, Hanoi, Bangkok

☆ Dollar in holding pattern as US inflation test looms; PBOC supports yuan
▼ + stars: | 2023-08-10 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

Banknotes of Chinese yuan and U.S. dollar are seen in this illustration picture taken September 29, 2022. The Australian and New Zealand dollars hovered close to two-month lows amid a worsening economic outlook for key trade partner China. The dollar was little changed at 143.79 yen , after earlier drifting to the highest since July 7 at 143.90. Elsewhere, the Chinese yuan tacked on about 0.1% to 7.2235 per dollar in offshore trading after the PBOC set a stronger official mid-point than the market consensus for a second day. New Zealand's kiwi was flat at $0.6053, just above Tuesday's low of $0.6035, which was the weakest since June 8.

Persons: Florence Lo, Tony Sycamore, Sycamore, Kristina Clifton, Joe Biden, Kevin Buckland, Shri Navaratnam Organizations: REUTERS, Federal Reserve, Bank of Japan, New, People's Bank of China, Street, Fed, Commonwealth Bank of Australia, U.S, Thomson Locations: New Zealand, China, U.S, Japan

Customers shop for handguns at the Des Moines Fairgrounds Gun Show at the Iowa State Fairgrounds in Des Moines, Iowa, U.S. March 11, 2023. REUTERS/Jonathan Ernst/File PhotoAug 9 (Reuters) - A federal appeals court on Wednesday ruled that a decades-old law prohibiting users of illegal drugs from owning firearms was unconstitutional as applied to the case of a marijuana user, the latest fallout from a U.S. Supreme Court ruling last year that expanded gun rights. Circuit Court of Appeals concluded that the federal law violated a Mississippi man's right to "keep and bear arms" under the U.S. Constitution's Second Amendment. The U.S. Drug Enforcement Administration did not administer a drug test, though Daniels admitted he sometimes smoked marijuana, which federal law prohibits. While his case was pending, the conservative-majority Supreme Court in June 2022 declared for the first time that the Second Amendment protects an individual's right to carry a handgun in public for self-defense.

Persons: Jonathan Ernst, Patrick Daniels, Daniels, Jerry Smith, Ronald Reagan, Stephen Higginson, Barack Obama, Nate Raymond, Shri Navaratnam Organizations: Des Moines, Iowa State Fairgrounds, REUTERS, U.S, Supreme, Circuit, Appeals, U.S . Drug, Administration, New York, Thomson Locations: Des Moines , Iowa, U.S, New Orleans, Mississippi, Boston

China's increased appetite for thermal coal from Australia and Russia has led to a shift in imports by India, the world's second biggest coal buyer. From December to February India's imports of Australian thermal coal had been above 1 million metric tons per month, peaking in January at 1.79 million. In contrast India is turning back to thermal coal from Indonesia, with July arrivals of 6.87 million metric tons, up from 6.04 million in June. For July, Indonesia's share of India's thermal coal imports was 63%, which was the highest since the 65% in April. China and India both generally import Australian thermal coal of a lower energy value than the traditional buyers of Japan, South Korea and Taiwan.

Persons: David Gray, it's, Indonesia's, Shri Navaratnam Organizations: REUTERS, Labor Party, Liberal, National, China, Argus, Reuters, Thomson Locations: Ulan, New South Wales, Mudgee, Australia, LAUNCESTON, Beijing, Asia, China, Mongolia, Indonesia, Russia, India, Japan, South Korea, Taiwan, Australia's Newcastle, Ukraine

Moody's cut the ratings of 10 U.S. banks by one notch and placed some banking giants on review for potential downgrades. The downgraded banks include M&T Bank (MTB.N), Pinnacle Financial Partners (PNFP.O), Prosperity Bank and BOK Financial Corp (BOKF.O). The banks placed on review for downgrade include BNY Mellon (BK.N), US Bancorp (USB.N), State Street (STT.N) and Truist Financial (TFC.N). Moody's changed its outlook to negative from stable for Capital One (COF.N), Citizens Financial (CFG.N) and Fifth Third Bancorp (FITB.O), among others. The ratings agency also affirmed the ratings of PNC Financial Services Group (PNC.N), Citizens, and Huntington Bancshares (HBAN.O) alongside other banks.

Persons: Moody's, BNY Mellon, Huntington, Juby Babu, Muralikumar Anantharaman Organizations: Moody's Corporation, T Bank, Pinnacle Financial Partners, Prosperity Bank, BOK Financial Corp, BNY, US Bancorp, Truist, Silicon Valley Bank, Signature Bank, Citizens, Fifth Third Bancorp, PNC Financial Services, Thomson Locations: Manhattan , New York, U.S, Silicon, Bengaluru

Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song/File PhotoBEIJING, Aug 7 (Reuters) - China's exports likely contracted further in July, as manufacturers in the world's second-largest economy struggled for buyers in markets grappling with high inflation and rising interest rates, a Reuters poll showed on Monday. Imports are expected to have shrunk by 5.0%, after a fall of 6.8% in June, reflecting slightly improved domestic demand. The median estimate in the poll indicated only marginal change in China's trade surplus, with analysts predicting it will come in at $70.60 billion, compared with 70.62 billion in June. China's trade data will be released on Tuesday.

Persons: Aly, Joe Cash, Anant Chandak, Susobhan Sarkar, Shri Navaratnam Organizations: REUTERS, Thomson Locations: Shanghai, China, BEIJING, Beijing, outflows, Bengaluru

☆ Australia ANZ-Indeed jobs ads edge 0.4% higher in July
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

A pedestrian is reflected in the window of a branch of the Australia and New Zealand Banking Group (ANZ) in central Sydney, Australia, October 25, 2017. Data from Australia and New Zealand Banking Group (ANZ.AX) and employment website Indeed showed job ads rose 0.4% in July from June, when they fell 2.7%. "There are other signs labour market momentum is starting to slow as the RBA’s 400bp of hikes flow through to economic activity... this suggests we'll see a gradual cooling of the labour market from its very strong starting position." Markets suspect the cash rate is nearing its peak, with futures pricing in an even chance of a further rate hike to 4.35% in December. A majority of economists polled by Reuters expect the RBA could deliver the last hike in the fourth quarter.

Persons: Steven Saphore, Stella Qiu, Shri Navaratnam Organizations: New Zealand Banking Group, ANZ, REUTERS, New Zealand Banking, Reserve Bank of Australia, Reuters, Thomson Locations: Australia, Sydney

☆ Asia shares on guard for US, China inflation risks
▼ + stars: | 2023-08-07 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> was a fraction firmer in thin trade, after losing 2.3% last week. Chinese blue chips (.CSI300) eased 0.7% with investors still disappointed at the lack of major and concrete stimulus steps from Beijing. Going the other way, S&P 500 futures added 0.4% and Nasdaq futures 0.5%. In China, the market is looking for further signs of deflation with annual consumer prices seen down around 0.5%, and producer prices falling 4%. Futures imply only a 12% chance of a Federal Reserve rate hike in September, and 24% for a rise by year-end.

Persons: Kim Kyung, Walt Disney, Goldman Sachs, Michael Gapen, Brent, Wayne Cole, Shri Navaratnam, Jacqueline Wong Organizations: Yen, REUTERS, Nikkei, SYDNEY, Japan's Nikkei, Bank of Japan, Nasdaq, News Corp, Goldman, Federal, Fed, U.S ., Thomson Locations: Tokyo, Japan, China, U.S, Asia, Pacific, Beijing, Ukraine

☆ Japan's 'Mr.Yen' Sakakibara expects no yen intervention
▼ + stars: | 2023-08-07 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

Japan's former currency czar Eisuke Sakakibara speaks at an interview with Reuters in Tokyo, Japan February 6, 2017. Sakakibara gained a reputation as a market mover in the 1990s after devising several currency interventions during his time as vice finance minister, earning him the nickname "Mr Yen". Sakakibara takes Bank of Japan head Kazuo Ueda at his word that easy policy will be retained for the time being. Japan's Ministry of Finance intervened in October when the yen slipped to 149.70 against the dollar, and speculation grew that the currency could tumble further. While the chance that the yen weakens further against the dollar can't be completely dismissed, Sakakibara believes the "tide has changed" for dollar-yen.

Persons: Eisuke Sakakibara, Kim Kyung, Sakakibara, Mr Yen, Kazuo Ueda, Brigid Riley, Hiroko Hamada, Shri Navaratnam Organizations: Reuters, REUTERS, U.S, U.S . Federal Reserve, of Finance, Bank of Japan, Fed, Bank, Japan, Japan's Ministry of Finance, Thomson Locations: Tokyo, Japan, U.S, Japan's

☆ Ukraine seeks progress towards peace at Saudi Arabia talks
▼ + stars: | 2023-08-05 | by ( Maha El Dahan | ) www.reuters.com time to read: +5 min

Ukrainian, Russian and international officials say there is no prospect of direct peace talks between Ukraine and Russia at present, with the war raging. The world's top oil exporter Saudi Arabia, which has maintained contacts with both sides since Russia invaded Ukraine last February, has played a role in convening countries that did not join earlier meetings, Western diplomats have said. SAUDI DIPLOMACYWestern officials and analysts said Saudi diplomacy had been important in securing China's presence at the talks. Zelenskiy attended an Arab League summit in Saudi Arabia last year where MbS voiced readiness to help mediate in the war. In March, Beijing brokered a resumption of ties between Saudi Arabia and its arch regional foe Iran.

Persons: Andriy Yermak, Volodymyr Zelenskyi, Volodymyr Zelenskiy's, Zelenskiy, Russia's, Eurasian Affairs Li Hui, Ajit Doval, Crown Prince Mohammed bin Salman, Xi Jinping, Kristian Coates Ulrichsen, Rice, Yun Sun, Sun, Lidia Kelly, Maha El Dahan, Omar Abdel, Michael Martina, Aftab Ahmed, Angus McDowall, Andrew Cawthorne Organizations: International, REUTERS, Saudi, Global, Kremlin, Eurasian Affairs, Indian National Security, Crown, Arab, MbS, Shanghai Cooperation Organization, Iran, Baker Institute, Stimson, Razek, Thomson Locations: Ukraine, Kyiv, China, India, Jeddah Ukraine, Russia, DUBAI, United States, Saudi Arabia, Ukrainian, Copenhagen, Beijing, Moscow, Jeddah, Riyadh, SAUDI, Saudi, Turkey, Middle East, Washington, Warsaw, Maha, Dubai, New Delhi

☆ Japan's SoftBank Corp posts 2.1% increase in Q1 profit
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: 1 min

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File PhotoTOKYO, Aug 4 (Reuters) - Japan's SoftBank Corp (9434.T), the domestic telecoms arm of SoftBank Group (9984.T), posted a 2.1% increase in first quarter operating profit on Friday. Operating profit was 246.3 billion yen ($1.73 billion) in the April to June period, marginally higher than the 241.2 billion yen in the same period a year earlier. SoftBank maintained its annual profit forecast of 780 billion yen in the year through March 2024, compared to an 838.8 billion yen average estimate from 18 analysts surveyed by Refinitiv. ($1 = 142.3900 yen)Reporting by Anton Bridge Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, SoftBank, Anton, Shri Navaratnam Organizations: SoftBank, REUTERS, SoftBank Corp, Refinitiv, Thomson Locations: Tokyo, Japan

The quarterly results from OCBC, also Southeast Asia's second largest lender by assets, rounded up a strong earnings season by Singapore banks as DBS Group (DBSM.SI) and United Overseas Bank (UOBH.SI) also delivered double-digit profit growth. Besides higher interest rates, Singapore lenders have also benefited from strong inflows from wealthy customers amid global uncertainty, including U.S.-China geopolitical tensions, because of the city-state's status as a financial safe-haven. Higher interest rates and slower economic growth could raise asset-quality risks for businesses and individual customers, he said, adding weak loan demand could negatively impact net interest income growth momentum once margin expansion peaks. OCBC said April-June net profit climbed to S$1.71 billion ($1.28 billion) from S$1.28 billion a year earlier mainly driven by better income growth and partly offset by higher allowances for non-impaired assets. The figure compared with a mean estimate of a S$1.76 billion profit from four analysts polled by Refinitiv.

Persons: ROE, Thilan Wickramasinghe, OCBC, NIM, Yantoultra Ngui, Tom Hogue, Shri Navaratnam, Jamie Freed Organizations: Chinese Banking Corp, DBS, United Overseas Bank, Maybank Securities, Refinitiv, Thomson Locations: Singapore, SINGAPORE, Asia's, U.S, China, Malaysia

☆ Australian competition regulator rejects $3.2 bln ANZ-Suncorp Bank deal
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Lucy CraymerAug 4 (Reuters) - Australia's competition regulator said on Friday it had denied authorisation for ANZ Group Holdings (ANZ.AX) to proceed with its proposed A$4.9 billion ($3.21 billion) acquisition of Suncorp Group's banking arm. The Australian Competition and Consumer Commission (ACCC) said it was not satisfied that the acquisition would not lessen competition in the supply of home loans to Australian customers. "Evidence we obtained strongly indicates that the major banks consider the second-tier banks to be a competitive threat," ACCC Deputy Chair Mick Keogh said in a statement. Keogh said the proposed acquisition would further "entrench an oligopoly" structure, with the country's four major banks dominating. "We believe the acquisition will improve competition, which will benefit Australian consumers, particularly in Queensland," ANZ said in a statement, noting that the ACCC's decision can be reviewed by the independent Australian Competition Tribunal.

Persons: Lucy Craymer, Mick Keogh, Keogh, Himanshi, Shri Navaratnam, Subhranshu Organizations: ANZ Bank, REUTERS, ANZ Group Holdings, Suncorp, Australian Competition, Consumer Commission, ANZ, Australian Competition Tribunal, Thomson Locations: Lambton Quay, Wellington , New Zealand, Melbourne, Queensland, Bengaluru

Analysts see the same lack of confidence in today's Chinese households and companies that Japan grappled with in the 1990s. But in China's case there is a key difference; there is no deflationary threat yet, nor have banks switched off lending. Fan Gang, a prominent economist and former adviser to the central bank, told a forum in June that China faces a liquidity trap but not a Japan-style deflationary morass. China's policymakers have cut rates and encouraged banks to lend more in efforts to revive economic growth after the pandemic. China's 220 million retail stock investors, equivalent to Brazil's population and the biggest drivers of daily moves, have kept to the sidelines this year.

Persons: Florence Lo, Asia Pacific Alicia Garcia Herrero, Byron Gill, Gill, Betty Wang, Wu, John, Winni Zhou, Rae Wee, Vidya Ranganathan, Shri Navaratnam Organizations: REUTERS, Companies, Asia Pacific, Pacific Opportunities Fund, U.S, Bank, ANZ, Eastroc Beverage, China Merchants Bank, Bank of Ningbo's, Thomson Locations: SHANGHAI, SINGAPORE, Japan, China, Bank, Shanghai, Singapore

☆ Singapore bank OCBC second-quarter earnings rise; sees rate cuts from 2024
▼ + stars: | 2023-08-04 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +3 min

The quarterly results from OCBC, also Southeast Asia's second largest lender by assets, rounded up a strong earnings season by Singapore banks as DBS Group (DBSM.SI) and United Overseas Bank (UOBH.SI) also delivered double-digit profit growth. Besides higher interest rates, Singapore lenders have also benefited from strong inflows from wealthy customers amid global uncertainty, including U.S.-China geopolitical tensions, because of the city-state's status as a financial safe-haven. The figure compared with a mean estimate of a S$1.76 billion profit from four analysts polled by Refinitiv. The bank projected its full-year net interest margin, a key profitability gauge, to be above 2.2%, return on equity in the range of 14% and low-to-mid single-digit loan growth. ($1 = 1.3410 Singapore dollars)Reporting by Yantoultra Ngui; Editing by Tom Hogue, Shri Navaratnam and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: ROE, Helen Wong, Thilan Wickramasinghe, OCBC, Wong, Yantoultra Ngui, Tom Hogue, Shri Navaratnam, Jamie Freed Organizations: Chinese Banking Corp, DBS, United Overseas Bank, Maybank Securities, Refinitiv, Thomson Locations: Singapore, SINGAPORE, Asia's, U.S, China, Malaysia

REUTERS/Dado Ruvic/IllustrationLONDON, Aug 3 (Reuters) - The dollar touched a four-week peak against major peers on Thursday after upbeat labour market data a day earlier, while sterling remained lower after the Bank of England downshifted to a smaller 25 basis point hike. The dollar index , which measures the currency against six major peers, rose as high as 102.84, its highest level in four weeks. Earlier, the currency fell to a four-week low of 143.89 per dollar. The New Zealand dollar similarly earlier slid to its lowest since end-June at $0.6063, having tumbled more than 1% on Wednesday. "The U.S. dollar actually strengthened against most other currencies (and) there were risk-aversion trades across all the asset classes."

Persons: Dado Ruvic, Lefteris Farmakis, nonfarm, Fitch, Sterling meanwhile, BOE, John Leiper, Tina Teng, Samuel Indyk, Rae Wee, Shri Navaratnam, Nick Macfie, Andrew Heavens, Giles Elgood Organizations: REUTERS, Bank of England, U.S . Treasury, Treasury, Barclays, Titan Asset Management, Bank of Japan, New Zealand, CMC Markets, U.S, Thomson Locations: U.S, Asia, Beijing

REUTERS/Dado Ruvic/IllustrationLONDON, Aug 3 (Reuters) - The dollar scaled a four-week peak against major peers on Thursday after upbeat labour market data a day earlier, while sterling edged lower ahead of an expected rate hike from the Bank of England. "Rate differentials continue to move in favour of the dollar as U.S. rates have been firmer than European rates," Christensen added. Against a stronger dollar, sterling fell 0.1% to $1.27. "An outside bet of a 50-basis-point hike would be a surprise and would lead to a stronger pound," Christensen added. "The U.S. dollar actually strengthened against most other currencies (and) there were risk-aversion trades across all the asset classes."

Persons: Dado Ruvic, Niels Christensen, Christensen, nonfarm, Fitch, BOE, Nordea's Christensen, Tina Teng, Samuel Indyk, Rae Wee, Shri Navaratnam, Nick Macfie Organizations: REUTERS, Bank of England, U.S . Treasury, Treasury, Bank of Japan, New Zealand, CMC Markets, U.S, Thomson Locations: U.S, Asia, Beijing

☆ Billionaire investor Ackman says he is shorting 30-year Treasuries
▼ + stars: | 2023-08-03 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

"We are short in size the 30-year T," Ackman wrote on messaging platform X, formerly known as Twitter. "We implement these hedges by purchasing options rather than shorting bonds outright," Ackman wrote. Ackman said higher defense costs, energy transition and the greater bargaining power of workers all point toward higher inflation. "The best hedges are the ones you would invest in anyway even if you didn't need the hedge," Ackman wrote. A spokesman for Ackman didn't respond to a Reuters request for additional comment.

Persons: Bill Ackman, Mike Blake, William Ackman, Ackman, Treasurys, Fitch, Svea Herbst, Bayliss, Shri Navaratnam Organizations: Pershing, Capital, Wall Street Journal Digital, REUTERS, Capital Management, U.S, Twitter, Federal, White, Svea, Thomson Locations: Laguna Beach , California, U.S

☆ Dollar stands tall as US economic resilience trumps fiscal uncertainty
▼ + stars: | 2023-08-03 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. Data out on Wednesday showing U.S. private payrolls rose more than expected in July boosted the greenback, as the figures pointed to continued labour market resilience which is likely to keep U.S. rates higher for longer. That sent the dollar index to its highest since July 7 in the previous session. "The U.S. dollar actually strengthened against most other currencies (and) there were risk-aversion trades across all the asset classes." The yen edged marginally higher to 143.31 per dollar, though languished near an over three-week low of 143.545 hit earlier in the week.

Persons: Dado Ruvic, shrugging, Treasuries, Vishnu Varathan, nonfarm, Fitch, Tina Teng, Karen Fishman, Goldman Sachs, Rae Wee, Shri Navaratnam Organizations: REUTERS, Treasury, U.S ., Mizuho Bank, White, New, CMC Markets, U.S, Bank, Bank of Japan, Thomson Locations: SINGAPORE, Asia, U.S, Wall, New Zealand

[1/3] A policeman stands next to a scene where, according to media reports, nine people have been stabbed and four others hurt by a car driven by the suspected attacker in Seongnam, South Korea, August 3, 2023. Yonhap via REUTERSSEOUL, Aug 4 (Reuters) - A man in a South Korean commuter town rammed his car into passers-by on Thursday then got out and stabbed some, wounding 14 people in the incident near the capital Seoul, police said. The unexplained attack in Seongnam came days after another rare stabbing attack in South Korea which killed one person and wounded three others. Media reports described him as a man in his 20s with a delivery job and suffering from some mental health issues. Police and firefighting officials said by telephone on Friday that 14 people had been hurt in the incident - nine stabbed and five hit by the car.

Persons: Yoon Hee, Hyonhee Shin, Choi, Andrwe Cawthorne, Ed Davies Organizations: Yonhap, REUTERS, Police, Media, Reuters, South, Thomson Locations: Seongnam, South Korea, REUTERS SEOUL, Korean, Seoul, Seohyeon

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