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The euro was at $1.0731, little changed on the day, trading just below its seven-month high of 1.07605 hit Monday. The China-sensitive Australian dollar spiked at a more than four-month peak of $0.6950 in the previous session. The offshore yuan last traded at 6.7878 per dollar, after hitting its strongest in five months of 6.7590 earlier in the session. The dollar also steadied against the Japanese yen at 131.7 yen. The currency has been broadly strengthening firm after the Bank of Japan's (BOJ) surprise tweak to its yield curve policy late last year.

☆ Asia shares dip on hawkish Fed remarks; recession risk weighs on commodities, oil
▼ + stars: | 2023-01-10 | by ( Selena Li | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.17%. "The main theme overnight was cautiousness in the equity space as stocks pared gains after hawkish comments from two Fed officials. read moreChina stocks on Tuesday snapped a six-session winning streak, while Hong Kong shares jumped to a six-month high. However, any optimism may be short-lived, said Trinh Nguyen, emerging Asia economist at Natixis in Hong Kong. "I think what would temper a lot of this optimism coming up is really the reality of this opening up.

☆ Asia shares dip on hawkish Fed remarks; commods rise on China reopening
▼ + stars: | 2023-01-10 | by ( Selena Li | ) www.reuters.com time to read: +3 min

"The main theme overnight was cautiousness in the equity space as stocks pared gains after hawkish comments from two Fed officials. The dollar index fell 0.068%. read moreChina's reopening buoyed sentiment with its stocks rising for a sixth consecutive session on Monday, while Hong Kong shares jumped to a six-month high. However, any optimism may be short-lived, said Trinh Nguyen, emerging Asia economist at Natixis in Hong Kong. Even in Hong Kong, although it is officially open, the visa issuance has been rather slow," Nguyen said.

☆ Treasury yields rise as investors look to Fed speakers for hints about rate policy plans
▼ + stars: | 2023-01-10 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

The yield on the 10-year Treasury was up by more than two basis points to 3.5448% at 4:31 a.m. The 2-year Treasury was last trading at around 4.2263% after rising by over two basis points. Treasury yields climbed on Tuesday as investors weighed remarks from Federal Reserve officials and scanned them for hints about the central bank's monetary policy plans. Investors looked to comments from Fed officials for fresh insights into the central bank's expectations for inflation and interest rate hikes. At its December meeting, the central bank slowed the pace of rate increases to 50 basis points.

☆ Gold prices steady as focus shifts to Powell's speech
▼ + stars: | 2023-01-10 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies U.S. CPI report due on ThursdayHawkish tone from Fed could prompt profit-taking - analystJan 10 (Reuters) - Gold prices were steady on Tuesday, with cautious traders largely focusing on Federal Reserve Chair Jerome Powell's speech for insights into the U.S. central bank's rate-hike trajectory. Spot gold held its ground at $1,872.79 per ounce, as of 0333 GMT. Investors' focus is on Powell's speech at a central bank conference later in the day. "Gold prices are hitting a key resistance at the $1,875 level ... A hawkish tone in Fed Chair Powell's speech later today could prompt some near-term profit-taking in gold," said IG Market strategist Yeap Jun Rong. "However, market is on the watch for a downside surprise in the U.S. CPI to support the less-hawkish rate-hike expectations, which could translate to upside for gold prices."

☆ It's 'foolhardy' to think the Fed will cut interest rates at all in 2023, BlackRock's bond chief says
▼ + stars: | 2023-01-10 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

It's "foolhardy" to expect Federal Reserve interest rate cuts this year, BlackRock's bond chief said. Meanwhile, the US economy added a better-than-expected 263,000 new payrolls last month, which suggests that the Fed still has scope to raise interest rates further without unemployment surging. "There's been a series of projections that in '23 they'll start tightening and then start easing again," he added. "I don't think you'll see that, because you need to see data really soften first and inflation come at target. Stocks traded mixed Monday after Daly and Bostic signaled the Fed will hold interest rates at above 5% for much of 2023.

☆ Morning bid: Obstacle course ahead
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +6 min

San Francisco Fed President Mary Daly and Atlanta Fed chief Raphael Bostic said they expect Fed rates - now at 4.25% to 4.5% - will need to rise to a 5% to 5.25% range to sap inflation. The other big market obstacle of the week is the onset of the U.S. corporate earnings season. Four American banking giants - JPMorgan (JPM.N), Bank of America (BAC.N), Citigroup (C.N) and Wells Fargo (WFC.N) - report earnings on Friday. Diaried events and data releases that may provide direction to U.S. and world markets later on Tuesday:* U.S. Dec NFIB small business survey. * U.S. Federal Reserve Chair Jerome Powell, Bank of Japan governor Haruhiko Kuroda, Bank of England Governor Andrew Bailey, Bank of Canada governor Tiff Macklem and European Central Bank board member Isabel Schnabel all speak at Swedish central bank event.

☆ Traders don't want to believe the Fed, so get used to a lot of choppiness
▼ + stars: | 2023-01-10 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Then Fed officials get on the tape say they're going to keep raising rates and keep them high until hell freezes over. Atlanta Fed President Raphael Bostic on Monday said the central bank should raise interest rates above 5% and stay there for "a long time." Inflation data continues to show signs of cooling, but it's still high, and the Fed doesn't want to declare victory so they keep jawboning the markets down. The source of tension is that the trading community doesn't want to believe the Fed, and many are arguing the Fed is using stale data. "Wall Street does not believe the story being spun by the Fed," Harry Katica from Saut Strategy told his clients.

☆ Morning Bid: Knocking on CPI's door
▼ + stars: | 2023-01-09 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

Jan 10 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp. Economists at many big banks are revising up their GDP growth forecasts for the second half of this year. Further signs of cooling inflation could raise the possibility of a pause in monetary policy. On Monday, Atlanta Fed President Raphael Bostic provided assurances that it will be "appropriate and important" for the Fed to exercise caution as it calibrates its war on inflation. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Morning Bid: Seeing through another shock
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +4 min

Brazil's weekend political shock reminds world markets of fragile geopolitics, but investors more broadly appear happier to stick with a new year narrative of recovery from a dire 2022. Days after his inauguration, leftist President Luiz Inacio Lula da Silva announced a federal security intervention in Brasilia until Jan. 31. Fed chair Jerome Powell speaks on Tuesday but the big data release of this week is Thursday's consumer price report. The gap between positive euro zone economic surprise indices and negative U.S. equivalents is now at its widest since June. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Morning Bid: Goodbye to all that
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Tom Westbrook:After three years, travellers are streaming into China by air, land and sea. the official newspaper of the Chinese Communist Party, the People's Daily, wrote on Sunday. The yuan punched through its 200-day moving average to its highest since August, and the dollar was in retreat wherever Chinese tourists are expected. The twin hopes, then, of a gentler Fed and reviving China are holding recession fears at bay. In emerging markets, focus is on the open of trade in the Brazilian real after hundreds of supporters of far-right former President Jair Bolsonaro were arrested during an invasion of the country's Congress, presidential palace and Supreme Court.

☆ US stocks trade mixed as investors digest latest Fed comments on rate outlook
▼ + stars: | 2023-01-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

US stocks traded mixed as investors digested the latest Fed comments on the outlook for interest rates. Two regional Fed presidents see rates rising over 5% in order for the central bank to rein in inflation. Investors also have their eye on Thursday's December CPI report, a key inflation measure that will influence the Fed's next policy move. San Francisco Fed President Mary Daly and Atlanta Fed President Raphael Bostic said they expected the central bank to raise rates past 5% and hold them there to rein in inflation. Investors also have their eye on Thursday's December Consumer Price Index report, a key inflation measure that will influence central bankers in their next policy move.

"Eventually I want us to get to 25" basis point rate hikes, he said. Asked in a Wall Street Journal interview early on Monday about her preferred rate-hike size for the Jan. 31 to Feb.1 meeting, San Francisco Fed President Mary Daly said both 25 and 50 basis point rate hikes are "on the table" for her. She, like Bostic, expects the Fed policy rate - now at 4.25% to 4.5% - to need to rise to a 5% to 5.25% range to do the job on inflation. After nearly a year of aggressive rate hikes designed to slow the economy and bring soaring inflation to heel, Fed policymakers say they are encouraged by the recent slowing in jobs and wage growth that could signal cooler inflation ahead. But they are loathe to stop interest rate hikes or even downshift to smaller rate-hike increments too soon, for fear of entrenching high inflation and ultimately forcing the Fed to raise rates further.

☆ Stock futures inch higher to start the week
▼ + stars: | 2023-01-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A trader works on the trading floor at the New York Stock Exchange (NYSE), January 5, 2023. Stock futures inched higher in overnight trading Sunday after the major averages notched their first big rally of the new trading year. Futures tied to the Dow Jones Industrial Average gained 37 points, or 0.11%, while S&P 500 and Nasdaq 100 futures added 0.16% and 0.25%, respectively. All the major averages finished Friday's session with weekly gains, with the Dow and S&P posting their best week since November. Nearer term, the New York Fed Survey of Consumer Expectations along with consumer credit data are due out Monday.

☆ Atlanta Fed President Expects Higher Rates to Remain
▼ + stars: | 2023-01-07 | by ( Austen Hufford | ) www.wsj.com time to read: 1 min

NEW ORLEANS—Atlanta Fed President Raphael Bostic said he expects the central bank to keep raising interest rates this year and then hold them at some undetermined higher level into next year to combat inflation. Mr. Bostic said Friday he anticipates the Federal Reserve lifting its benchmark federal-funds rate to at least 5% this year from its current range between 4.25% and 4.5%—which is a 15-year high.

For the week, both Brent and WTI were down over 8%, their biggest weekly dives to start the year since 2016. "The oil market might be regaining some composure following the bloodbath earlier this week, but the upside potential remains limited, at least in the near term. That U.S. jobs report caused the U.S. dollar to rally as investors bet that inflation is easing and the U.S. Federal Reserve (Fed) need not be as aggressive as some feared. A weaker dollar can boost demand for oil, as dollar-denominated commodities become cheaper for holders of other currencies. Stock markets in China, the world's largest crude oil importer, logged a five-day winning streak on Friday on investors' expectations that the Chinese economy would soon emerge from its COVID woes and stage a robust recovery in 2023.

☆ Atlanta Fed President: December's jobs report doesn't change my outlook on the economy
▼ + stars: | 2023-01-06 | 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 EmailAtlanta Fed President: December's jobs report doesn't change my outlook on the economyRaphael Bostic, Atlanta Fed President, joins 'Squawk on the Street' to discuss the latest job reports and more.

☆ This is the definition of a soft landing, says Apollo Global’s Torsten Slok
▼ + stars: | 2023-01-06 | 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 EmailThis is the definition of a soft landing, says Apollo Global’s Torsten SlokTorsten Slok, Apollo Global Management chief economist, joins ‘Closing Bell’ to discuss this morning's jobs report and comments from Atlanta Fed President Raphael Bostic that the data doesn’t change his outlook.

☆ Raphael Bostic says Fed needs to 'stay the course' despite lower wage gains
▼ + stars: | 2023-01-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

"It doesn't really change my outlook at all," Bostic told CNBC's Steve Liesman during a live interview at a conference in New Orleans. Still, Bostic said he expects another rate increase of either a quarter or half percentage point when it releases its decision Feb. 1. Bostic is a nonvoting member this year of the rate-setting Federal Open Market Committee; he will vote again in 2024. Fed officials at their December meeting expressed concern that the public might misinterpret the Fed's move to a small rate hike — 0.5 percentage point from four straight 0.75 percentage point moves — as an easing in policy. Bostic emphasized that the Fed can't "claim victory prematurely" and needs not only to keep pushing rates higher, but to keep them there.

☆ Fed's Bostic: jobs data another sign economy is gradually slowing
▼ + stars: | 2023-01-06 | by ( Lindsay Dunsmuir | ) www.reuters.com time to read: +2 min

Jan 6 (Reuters) - The latest U.S. jobs figures are another sign that the economy is gradually slowing and should that continue the Federal Reserve can step down to a quarter percentage point interest rate hike at its next policy meeting, Atlanta Fed President Raphael Bostic said on Friday. "I've been looking for the economy to continually slow from the strong position it was at in the summer time," Bostic said. The Fed's main policy rate currently sits in a target range of 4.25% to 4.50%. In his interview, Bostic said that he see rates topping out at between 5.00% and 5.25%. Bostic said he does not see a recession this year and revealed he sees the unemployment rate rising to only 4% by year end, lower than many of his rate-setting colleagues.

☆ Important inflation data and big bank earnings could create volatility for markets in week ahead
▼ + stars: | 2023-01-06 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

Other speakers include Atlanta Fed President Raphael Bostic Monday. On Thursday, Philadelphia Fed President Patrick Harker, Richmond Fed President Tom Barkin and St. Louis Fed President Bullard all speak at separate events. Minneapolis Fed President Neel Kashkari and Boston Fed President Susan Collins have appearances Friday. The most important inflation report in the week ahead is the consumer price index, released Thursday. Import prices 10:00 a.m. Consumer sentiment 10:00 a.m. Minneapolis Fed President Neel Kashkari 10:20 a.m. Philadelphia Fed's Harker 9:00 a.m. Boston Fed President Susan Collins

Nearly 165 million people were either in jobs or looking for them last month, a record high that showed a long-hoped-for improvement in labor supply. Reuters Graphics Reuters GraphicsThe jobs report is "the embodiment of the soft landing narrative - this idea that can you have a strong labor market with slowing wage growth," said Simona Mocuta, chief economist at State Street Global Advisors. Ideally, she said, that should allow the Fed to slow and soon pause its interest rate hikes. Reuters Graphics Reuters GraphicsTraders took the report as evidence the Fed's work is near to being done. Still, she said, "inflation remains far too high, despite some encouraging signs lately, and is therefore of great concern."

☆ U.S. Treasury yields: investors mull over Fed rate policy outlook
▼ + stars: | 2023-01-05 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

The yield on the benchmark 10-year Treasury yield was up by around one basis point to 3.72% at 4:20 a.m. The 2-year Treasury yield was last trading at around 4.3992% after rising by just over one basis point. U.S. Treasury yields held steady on Thursday as investors assessed expectations for the Federal Reserve's interest rate policy plans and awaited central bank speaker comments. At its December meeting, the Fed announced a 50 basis point rate hike, which was a slight decrease from the 75 basis point increases implemented at each of its previous four meetings. A series of Fed speakers are due to make remarks as the week continues, with St. Louis Fed President James Bullard and Atlanta Fed President Raphael Bostic expected to speak on Thursday.

On the benchmark S&P 500 index, rate-sensitive real estate stocks (.SPLRCR) led the losses with a 2.2% drop, while financials (.SPSY) slipped 1%. The ADP National Employment report showed a much greater-than-expected rise in private employment in December, while another report showed weekly jobless claims fell last week. The reports came a day after data showed a moderate fall in U.S. job openings, in growing evidence that the labor market remains tight. A strong labor market has been a concern for markets pummeled by rising borrowing costs as it gives the Federal Reserve a reason to raise rates for longer than expected this year. The more comprehensive nonfarm payrolls report is due on Friday, which would provide further clues on labor demand and the rate hike trajectory.

☆ Morning bid: Rate cut talk, already!
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +3 min

Indeed, minutes from the Fed's December meeting, released on Wednesday, cautioned against expectations for late-year rate cuts that traders have priced in. They price in roughly 40 basis points worth of rate cuts in the second half of the year and the key is whether inflation will slow enough for the Fed to ease. So perhaps it is too early to be talking about rate cuts? Still, U.S. stock futures point to a weak start for Wall Street shares , and European shares are a touch softer too. Gas prices are falling fastKey developments that may provide direction to U.S. markets later on Thursday:- U.S. Nov trade data.

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