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☆ Dollar beaten to over two-month low as Fed cut bets take charge
▼ + stars: | 2023-11-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Against the weaker greenback, the euro hit its highest since August at $1.09365, while the yen firmed at a one-month high of 148.68 per dollar. The Japanese yen remained on the stronger side of 150 per dollar and was last 0.3% higher at 149.17. The onshore yuan rose 0.5% to an over three-month high of 7.1700 per dollar, while the offshore yuan similarly got a boost and jumped roughly 0.6% to an over three-month top of 7.1703 per dollar. The Aussie was last 0.5% higher at $0.6546, having struck a three-month high of $0.6563 earlier in the session, while the kiwi gained 0.54% to $0.6025.

Persons: Dado Ruvic, Carol Kong, Vishnu Varathan, CBA's, Rae Wee, Sam Holmes Organizations: REUTERS, Rights, Federal Reserve, New Zealand, Fed, Commonwealth Bank of Australia, Treasury, ., Mizuho Bank, Thomson Locations: Rights SINGAPORE, Asia, China

☆ Dollar stumbles to over two-month low as markets eye Fed cuts
▼ + stars: | 2023-11-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

The yuan struck three-month highs in both the onshore and offshore markets, propped up by China's central bank, while the Australian dollar similarly scaled a three-month top against the falling greenback. "If we do see risk appetite improve again, then the dollar can definitely weaken further." Against the weaker dollar, the euro rose to an over two-month high of $1.0924, ahead of flash PMI readings in the euro zone due later this week. The risk-sensitive Australian dollar edged roughly 0.5% higher to $0.6546, its strongest level since August, while the New Zealand dollar rose 0.52% to $0.60235. The onshore yuan rose 0.5% to an over three-month high of 7.1753 per dollar, while the offshore yuan similarly got a boost and jumped roughly 0.6% to an over three-month top of 7.1745 per dollar.

Persons: Dado Ruvic, Carol Kong, Sterling, Vishnu Varathan, CBA's, Rae Wee, Sam Holmes Organizations: REUTERS, Rights, Federal Reserve, Fed, Commonwealth Bank of Australia, Treasury, ., Mizuho Bank, New Zealand, Thomson Locations: Rights SINGAPORE, Asia, China

Passersby wait at a crossing in front of an electronic board showing Japan's Nikkei average outside a brokerage, in Tokyo, Japan, March 17, 2023. REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsNov 21 (Reuters) - A look at the day ahead in Asian markets from Alden Bentley, U.S. The benchmark S&P 500 (.SPX) is now less than 2% away from its highest level this year that was reached in July. There are few potential U.S. market moving events this week, besides Tuesday's day early release of the minutes from the Federal Open Market Committee's last meeting. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Androniki, Alden Bentley, Satya Nadella, Sam Altman Organizations: Nikkei, REUTERS, Breaking, Finance, Markets, Reuters, Microsoft, Treasury, Fed, Federal, Reserve Bank of Australia, Bank Indonesia, Kuaishou Technology, Tongcheng Travel, Alden Bentley Our, Thomson Locations: Tokyo, Japan, Alden, U.S, Asia

☆ Trump vows to kill Asia trade deal being pursued by Biden if elected
▼ + stars: | 2023-11-19 | by ( Nathan Layne | ) www.reuters.com time to read: +2 min

Speaking to supporters in Iowa, Trump said he was against the regional trade deal being negotiated by the Biden administration with 13 other countries, arguing that it would hollow out U.S. manufacturing and trigger job losses. Trump, who withdrew from the Trans-Pacific Partnership (TPP) trade deal that had been forged with many of the same countries after taking office in January 2017, said he would "knock out" what he referred to as "TPP Two" immediately upon taking office. The Biden administration had hoped to finish key chapters of its IPEF trade initiative in time for this week's Asia-Pacific Economic Cooperation (APEC) meeting. It has vowed to continue negotiating the ambitious deal, but election-year pressures and resistance to tough commitments from some countries make a deal unlikely, trade experts and business groups say. Reporting by Nathan Layne in Fort Dodge, Iowa; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Donald Trump, Shannon Stapleton, Joe Biden, Trump, Biden, Nathan Layne, Chizu Organizations: U.S, Trump Organization, Court, REUTERS, Republican, Economic, Pacific, Economic Cooperation, Thomson Locations: New York, Manhattan, New York City, U.S, DODGE , Iowa, Pacific, Iowa, Vietnam, Indonesia, Fort Dodge, Des Moines, Asia, Fort Dodge , Iowa

☆ There is 'no real alternative' to China when it comes to trade: Asia Trade Centre
▼ + stars: | 2023-11-17 | 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 EmailThere is 'no real alternative' to China when it comes to trade: Asia Trade CentreDeborah Elms of the Asia Trade Centre explains why countries like India and Vietnam fail to present viable supply chain alternatives to China.

Persons: Deborah Elms Organizations: Asia Trade, Deborah, Asia Trade Centre Locations: China, India, Vietnam

☆ Analysis-Indo-Pacific Trade Deal Prospects Dim as 2024 US Election Year Politics Loom
▼ + stars: | 2023-11-17 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +4 min

By David LawderSAN FRANCISCO (Reuters) - The Biden administration has vowed to continue negotiating an ambitious Asia trade deal, but election-year pressures and resistance to tough commitments from some countries make a deal unlikely, trade experts and business groups say. Deputy U.S. Trade Representative Sarah Bianchi told Reuters that IPEF partners will "recalibrate" the trade talks in 2024. But it gets harder from here, said Wendy Cutler, the former chief USTR negotiator on the Trans-Pacific Partnership trade deal with many of the same countries. "Until they do that, the trade pillar will be a tough nut to crack." The Biden administration launched negotiations in September 2022, leaving an impossibly tight deadline ahead of the APEC summit, according to some trade experts.

Persons: David Lawder, Biden, Sarah Bianchi, Wendy Cutler, TPP, Donald Trump's, Cutler, They're, Sherrod Brown, Jake Colvin, Colvin, Lori Wallach, Xi Jinping, Don Durfee, Josie Kao Organizations: FRANCISCO, Reuters, Economic, Economic Cooperation, U.S . Trade, Pacific Partnership, Asia Society Policy Center, APEC, Democratic, National Foreign Trade Council, Trans, Pacific Locations: Asia, Vietnam, Indonesia, Donald Trump's U.S, San Francisco, China

☆ Yen's fall toward multi-decade lows keeps markets on intervention watch
▼ + stars: | 2023-11-14 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Against the dollar, the yen last stood at 151.72 , languishing near a one-year low of 151.92 hit on Monday. A break below last year's trough of 151.94 per dollar would mark a fresh 33-year low for the yen. "I'm inclined to also think that it wasn't a BOJ intervention... It intervened again in October 2022 after the yen plunged to a 32-year low of 151.94. The comments have kept the U.S. dollar bid and against the greenback, the New Zealand dollar fell to an over one-week low of $0.58705.

Persons: Thomas White, Carol Kong, Rodrigo Catril, Jerome Powell, NAB's, Rae Wee, Sam Holmes Organizations: REUTERS, Rights, Bank of Japan's, greenback, Commonwealth Bank of Australia, Bank of, National Australia Bank, NAB, Ministry of Finance, Federal, U.S, New Zealand, Sterling, Reserve Bank of Australia, Thomson Locations: Japan, Rights SINGAPORE, Asia, New York, Bank of Japan, U.S

☆ U.S. Shift on Global Tech Rules Jeopardizes Effort to Counter China
▼ + stars: | 2023-11-13 | by ( Yuka Hayashi | ) www.wsj.com time to read: 1 min

The Biden administration has been under pressure domestically to rein in tech giants including Meta Platforms. Photo: Godofredo A. Vásquez/Associated PressWASHINGTON—The Biden administration’s abrupt shift on global technology rules has weakened a critical Asia trade agreement that was intended to help counter China’s growing clout in the region. Rules facilitating digital trade, including the cross-border transfer of data on customers and supply chains, were expected to be a centerpiece of what is called the Indo-Pacific Economic Framework, or IPEF, a U.S.-led group of 14 nations. But the U.S. recently withdrew its support for those provisions, a decision that cut against the desires of some Asian allies who see common rules governing business data as a cornerstone building block for economic cooperation.

Persons: Biden, Associated Press WASHINGTON — Organizations: Meta, Associated Press WASHINGTON, U.S . Locations: Asia, U.S

Peng Zhao, CEO, Citadel Securities speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023. If Citadel Securities were to obtain a licence, it would be the first foreign firm to formally foray into market-making in China outside interbank and foreign exchange market making. "We are pleased to see the introduction of the market-making program in China," Zhao told Reuters in an interview in Hong Kong. Citadel Securities in July appointed Tony Tang, the former head of BlackRock's China business, to helm its China operations. This year, Citadel Securities also launched an investment-grade corporate bond market-making business in the United States.

Persons: Peng Zhao, Mike Blake, Zhao, Ken, Tony Tang, Summer Zhen, Selena Li, Sumeet Chatterjee, Edwina Gibbs Organizations: Citadel Securities, Milken, Global Conference, REUTERS, Reuters, Beijing Stock Exchange, Nasdaq, China's Stock, Treasuries, Asia, Thomson Locations: Beverly Hills , California, U.S, HONG KONG, China, interbank, Hong Kong, United States, Beijing, Asia

☆ US yields languish above lows before Powell remarks; oil sags
▼ + stars: | 2023-11-08 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

Crude oil sank to a three-month low after data showed a steep build in U.S. stockpiles, while worries about the Chinese economy weighed on the outlook for demand. Equities were mixed in Asia, with gains for tech stocks offset by slumping commodity shares. Wall Street futures pointed slightly lower following gains across the big three indexes overnight, led by a 0.9% rally for the tech-heavy Nasdaq (.IXIC). "The markets are repositioning for a moderation in U.S. growth," pushing down long-term yields and the dollar, said Kyle Rodda, a senior markets analyst at Capital.com. Declines in commodity shares amid lower energy prices were offset by a climb in growth stocks, amid expectations for lower borrowing costs.

Persons: Androniki, Jerome Powell, Christopher Waller, Michelle Bowman, Powell, Kyle Rodda, Brent, Hong, Kevin Buckland, Shri Navaratnam Organizations: Nikkei, REUTERS, Rights, Federal, Wall, Nasdaq, Fed, People's Bank of China, Thomson Locations: Tokyo, Japan, Asia, U.S, Pacific

☆ Oil prices fall to over 3-month low on signs of higher supply
▼ + stars: | 2023-11-08 | by ( ) www.cnbc.com time to read: +1 min

Oil prices fell on Wednesday to their lowest in over three months, after industry data showed a steep build in U.S. crude supplies, while mixed Chinese economic data raised worries about global demand for crude. U.S. crude oil stocks rose by almost 12 million barrels last week, market sources said late Tuesday, citing American Petroleum Institute figures. Crude oil production in the United States this year will rise by slightly less than previously expected while demand will fall, the EIA said on Tuesday. Data in China, the world's biggest consumer of oil, also raised doubts about the demand outlook. Adding to pressure on oil prices was a modest recovery in the U.S. dollar from recent lows, which makes oil more expensive for holders of other currencies.

Organizations: Brent, American Petroleum Institute, U.S . Energy Information Administration, EIA, U.S Locations: Bakersfield, Kern County , California, Asia, United States, China

☆ Dollar tracks Treasury yields lower as Fed stays on hold
▼ + stars: | 2023-11-02 | by ( ) www.cnbc.com time to read: +3 min

The dollar fell broadly on Thursday, tracking a slide in U.S. Treasury yields as markets grew more convinced the Federal Reserve was done with its aggressive monetary policy tightening cycle after it left rates unchanged. However, Fed Chair Jerome Powell acknowledged that a recent market-driven rise in Treasury bond yields, home mortgage rates and other financing costs could have their own impact on the economy as long as they persist. The dollar edged broadly lower alongside U.S. Treasury yields which touched multi-week lows in early Asia trade. "This could take some time to develop and is one reason we are likely to see higher rates for longer." The move lower in the dollar brought some respite for the yen, though it remained on the weaker side of 150 per dollar.

Persons: Jerome Powell, Wells, Jay Bryson, Lon Erickson, Tom Kenny Organizations: Treasury, Federal, Fed, New, U.S, Traders, Thornburg Investment Management, Bank of Japan's, ANZ, Bank of Locations: U.S, Wall, Asia, New Zealand, Wells Fargo

☆ Yen languishes as focus turns to Fed
▼ + stars: | 2023-11-01 | by ( ) www.cnbc.com time to read: +3 min

Against the dollar, the yen fell about 1.7% overnight, touching a low of 151.74 — a whisker from the 151.94 level that prompted intervention a year ago. In the U.S. data showed wages and salaries rose solidly last quarter and while consumer confidence ebbed, it fell far less than markets had expected. The euro declined 0.4% on the dollar overnight and nursed losses at $1.0579. China's Caixin PMI data will be in focus later on Wednesday, ahead of U.S. manufacturing and private payrolls figures — before the Fed meeting. U.S. yields rose in early Asia trade, while Japanese yields fell slightly on thin volumes, leaving the spread between benchmark 10-year rates at 398 bps.

Persons: Alan Ruskin, Sterling, James Malcolm, 10bp Organizations: Resona Bank, U.S, Federal Reserve, U.S . Treasury, New Zealand, The Bank of, Deutsche Bank, UBS Locations: Tokyo, Japan, Asia, The, The Bank of Japan, U.S, London

☆ Asian stocks bounce on China spending plans; inflation jolts Aussie
▼ + stars: | 2023-10-25 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.9% and the Hang Seng (.HSI) 2%. China's top parliament approved a 1 trillion yuan ($137 billion) bond issue, state media reported adding the funds would be spent rebuilding disaster zones and improving infrastructure. Investors pulled forward European rate cut expectations a little and the euro was nursing losses at $1.0594. The annual pace of inflation in Australia slowed in the third quarter, but at 5.4% was above forecasts of 5.3%. Oil fell in commodity trade on Tuesday, thanks to the weak economic data from Europe, and was nursing losses on Wednesday.

Persons: Dado Ruvic, hawkish, Bonds, Steven Leung, UOB Kay Hian, Leung, Glenn Yin, Lincoln Organizations: REUTERS, Japan's Nikkei, Treasury, Central, Central Huijin, Investors, 25bp, ANZ, Brent, AETOS Capital Group, U.S . Securities, Exchange Commission, Thomson Locations: China, SINGAPORE, Asia, Pacific, Japan, Tokyo, U.S, Hong Kong, Central, Australia, Europe, Melbourne, United States, Russia, Israel, Gaza, BlackRock

☆ Bitcoin leaps to 2023 high on ETF bets
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +3 min

Bitcoin rose more than 6% to $35,198, its highest since May 2022. It had surged 10% on Monday in its best session for almost a year and its price has doubled in 2023. Crypto-linked shares such as Coinbase Global (COIN.O) or bitcoin owner MicroStrategy (MSTR.O) rose in after-hours trade. An exchange-traded fund (ETF) owning bitcoin on behalf of fund investors is seen as a driver of demand because it would allow anyone reluctant to trade crypto markets a means of buying exposure to bitcoin through the stockmarket. So the ETF would make a large audience and increase liquidity," said Steen Jakobsen, CIO at Saxo.

Persons: Dado Ruvic, MicroStrategy, Steen Jakobsen, Kyle Rodda, Capital.com, Javier Milei, Tom Westbrook, Rae Wee, Brigid Riley, Shri Navaratnam Organizations: REUTERS, BTC, Investment, BlacRock's, Reuters, U.S . Securities, Exchange Commission, Saxo, BlackRock, SEC, Hamas, Thomson Locations: Asia, SINGAPORE, BlackRock, U.S, Singapore, Tokyo

☆ BlackRock bitcoin ETF added to eligibility file, says clearing house DTCC
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsSummaryCompanies Potential ETFs added to DTCC file as 'standard practice'-DTCCBlackRock iShares Bitcoin Trust ETF added in August-DTCCMove is not indicative of regulatory approval-DTCCBitcoin holds gains made on ETF approval speculationSINGAPORE, Oct 25 (Reuters) - BlackRock's (BLK.N) proposed bitcoin exchange-traded fund (ETF) was added to a clearing-house eligibility file in August, but the move is not indicative of any regulatory approval, clearing house DTCC said. Speculation that BlackRock or a number of other pending bitcoin ETF applicants would succeed has sent bitcoin on its biggest two-day rally for seven months. The clearing house said the list was its eligibility file, which includes active and potential ETFs and that Blackrock's iShares Bitcoin Trust ETF was added in August as "standard practice...in preparation for the launch of a new ETF". Bitcoin touched an 18-month high of $35,198 on Tuesday and was last at $33,802 in Asia trade on Wednesday.

Persons: Carlo Allegri, Bitcoin, DTCC, Rae Wee, Tom Westbrook, Muralikumar Anantharaman, Jamie Freed Organizations: REUTERS, BlackRock, Traders, U.S . Securities, Exchange Commission, SEC, Thomson Locations: BlackRock, Manhattan, New York City , New York, U.S, SINGAPORE, Asia, Singapore

☆ Asian shares hit 11-month lows; focus on US economic data
▼ + stars: | 2023-10-24 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.28% lower at 473.37, having touched 472.73 - the lowest since November 2022. China shares remained under pressure, with the Shanghai Composite Index (.SSEC) 0.32% higher, while Hong Kong's Hang Seng Index (.HSI) slid 0.5%. China's blue-chip CSI300 Index (.CSI300) was 0.2% higher after closing at its lowest level in 4-1/2 years on Monday. The dollar index was 0.038% lower at 105.56. The Japanese currency was last at 149.62 per dollar, having hit the symbolic 150 level on both Friday and Monday.

Persons: Tyrone Siu, Hong, Gary Dugan, bitcoin, Chris Weston, Jamie Freed Organizations: REUTERS, Rights, U.S . Federal Reserve, Nikkei, Shanghai, Dalma, Microsoft, Facebook, U.S . Commerce Department, Treasury, West Texas, Brent, Thomson Locations: Exchange, Hong Kong, China, Rights SINGAPORE, Asia, Israel, Pacific, Japan, Britain, France, United States

☆ Oil prices rebound on Israel-Hamas war uncertainty
▼ + stars: | 2023-10-24 | by ( ) www.cnbc.com time to read: +2 min

An oil pump jack is seen in the Loco Hills region, New Mexico, U.S., April 6, 2023. Oil prices rose in early Asia trade on Tuesday, recovering some of the previous day's losses, as investors remained nervous that the Israel-Hamas war could escalate into a wider conflict in the oil-exporting region, causing potential supply disruptions. Brent crude futures climbed 70 cents, or 0.8%, to $90.53 a barrel by 0032 GMT, while U.S. West Texas Intermediate crude futures increased 71 cents, or 0.8%, to $86.20 a barrel. But Israel continued its bombardment of Gaza on Monday after launching air strikes over southern Lebanon overnight. U.S. crude stockpiles were expected to have risen last week, while distillate and gasoline inventories fell, a preliminary Reuters poll showed on Monday.

Persons: Yuki Takashima, Israel, Takashima Organizations: Brent, U.S, West Texas, Nomura Securities, American Petroleum Institute, Energy Information Administration, U.S . Department of Energy Locations: New Mexico, U.S, Asia, Israel, Gaza, Lebanon, Palestinian, OPEC, China

Felipe Villarroel, portfolio manager at TwentyFour Asset Management, said he recently swapped some 10-year Treasuries for higher yielding 30-year Treasuries. At these levels, yields give “a massive cushion in your total returns" to protect against bond prices falling further, he said. Yields on the benchmark 10-year U.S. Treasury were over 4.95% in Asia trade on Thursday, their highest level in more than 16 years, and 30-year yields breached 5% this month for the first time since 2007. An auction of 30-year U.S. Treasuries showed weak demand last week, sending yields higher. "The tightness that (bond yields) are imposing on the economy and markets is rising ... this caps the extra work the Fed needs to do," said Smith.

Persons: Jerome Powell, David Rubenstein, Amanda Andrade, Rhoades, Felipe Villarroel, Treasuries, Matt Smith, Ruffer, Buyers, Leslie Falconio, Ruffer's Smith, Smith, Davide Barbuscia, Michelle Price, Ira Iosebashvili, Nick Zieminski Organizations: Federal, Economic, of Washington, Washington , D.C, REUTERS, Treasuries, TwentyFour Asset Management, Bank of America Global Research, Treasury, UBS Global Wealth Management, BlackRock Investment Institute, Thomson Locations: Washington ,, Asia

☆ Asia stocks rise on earnings hopes; keep wary eye on Mideast tensions
▼ + stars: | 2023-10-17 | by ( Selena Li | ) www.reuters.com time to read: +3 min

A man looks at an electric board displaying the Nikkei stock average outside a brokerage in Tokyo, Japan June 14, 2023. Overnight the S&P 500 (.SPX) had climbed 1%, while oil prices and the U.S. dollar had fallen. Benchmark 10-year Treasury yields are about 15 basis points off 16-year highs, though they crept higher in Asia trade Tuesday to 4.7331%. The euro traded at $1.0549 and the yen hovered just short of the 150-per-dollar mark at 149.53. If investors don't receive the coupon payment, all of Country Garden's offshore debts will be deemed in default.

Persons: Kim Kyung, Kerry Craig, Goldman Sachs, Morgan Stanley, Johnson, Craig, Joe Biden, Israel, Israel's shekel, Bitcoin, Selena Li, Shri Navaratnam Organizations: Nikkei, REUTERS, Tokyo's Nikkei, U.S ., Morgan Asset Management, Bank of America, Johnson, Netflix, Federal Reserve, Israel, Hamas, Iran's, HK, Brent, BlackRock, Thomson Locations: Tokyo, Japan, HONG KONG, U.S, Asia, Pacific, Gaza, Iran, Zealand, Brent

☆ Dollar buoyed by safe-haven bids, rate jitters
▼ + stars: | 2023-10-16 | by ( ) www.cnbc.com time to read: +4 min

The yen was last steady at 149.53 per dollar. "Obviously war is inflationary, disrupts growth and threatens risk assets," James Malcolm, head of FX strategy at UBS in London. Elsewhere, the safe-haven dollar stood near a one-week high against a basket of currencies as risk sentiment remained fragile, pinning the euro near a one-week low hit on Friday. The Australian dollar , often used as a proxy for risk appetite, gained 0.19% to $0.6309, after sliding 1.4% last week. "The kiwi dollar jumped this morning following a clear and decisive victory of New Zealand's opposition National Party," said Kyle Rodda, senior financial market analyst at Capital.com.

Persons: Jerome Powell, Benjamin Netanyahu, James Malcolm, David Chao, Christopher Luxon, Chris Hipkins, Kyle Rodda Organizations: Federal, U.S, country's, Bank of Japan, UBS, Sterling, Asia Pacific, Australian, Economic, of New, New Zealand, National Party, ACT, Labor Party, New Zealand First Locations: Chicago, Israeli, Asia, Gaza, London, Friday's, Israel, Japan, of New York

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base/File Photo Acquire Licensing RightsTOKYO, Oct 16 (Reuters) - Oil prices eased in early Asia trade on Monday, reversing last Friday's rally as investors waited to see if the Israel-Hamas conflict draws in other countries, which could drive up prices further and deal a fresh blow to the global economy. Both benchmarks rose nearly 6% on Friday, posting their highest daily percentage gains since April, as investors priced in the possibility of a wider Middle East conflict. The conflict in the Middle East has had little impact on global oil and gas supplies, and Israel is not a big producer. But investors and market observers are assessing how the conflict could escalate and what it might mean for supplies from nearby countries in the world's top oil producing region.

Persons: Brent, WTI, Benjamin Netanyahu, Antony Blinken, Israel, Yuka Obayashi, Deepa Babington Organizations: REUTERS, Rights, . West Texas, Israel's, Thomson Locations: Cushing , Oklahoma, U.S, Asia, Israel, Brent, Gaza, East

The fund is called Gulf Asia Trade & Investment, the sources said. The Adani Group did not comment on the SEBI probe and its possible ties with the fund when contacted by Reuters. EZY had been incorporated in the British territory in 2006, while Gulf Asia was incorporated there in May 2011. In April 2014, Gulf Asia held $51.4 million worth of shares in Adani Enterprises and Adani Power (ADAN.NS). In March 2017, that had increased to $202 million in four group companies - Adani Enterprises, Adani Power, Adani Transmission and Adani Ports (APSE.NS), according to the OCCRP data.

Persons: Francis Mascarenhas, Nasser Ali Shaban, OCCRP, Hindenburg, Ahli, Gautam Adani, EZY, SEBI, Jayshree, Krishn Kaushik, Sumeet Chatterjee, Edwina Gibbs, Louise Heavens Organizations: Securities and Exchange Board of India, REUTERS, Adani, Gulf Asia Trade & Investment, Dubai, Reuters, Securities and Exchange, India's, Hindenburg, Adani Enterprises, Al, Trade, United Arab, British Virgin Islands, Gulf, EZY Global, EZY, Thomson Locations: Mumbai, India, British Virgin, Nasser Ali Shaban Ahli, Gulf, Gulf Asia, United Arab Emirates, British, Asia

☆ Dollar loses steam ahead of Fed meeting minutes, US inflation test
▼ + stars: | 2023-10-11 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. A slew of Fed officials have signalled in recent days that the U.S. central bank may not need to tighten monetary policy much further than initially thought. Atlanta Fed Bank President Raphael Bostic said on Tuesday the central bank did not need to raise borrowing costs any further, and Minneapolis Fed President Neel Kashkari followed with similar remarks later in the day. U.S. Treasury yields have similarly tracked lower following the dovish Fed comments, with the two-year yield , which typically reflects near-term rate expectations, hitting a one-month low of 4.9260% on Tuesday. The offshore yuan , which touched a roughly one-month high of 7.2700 per dollar on Tuesday, last bought 7.2839.

Persons: Rick Wilking, Raphael Bostic, Neel Kashkari, Sterling, Thierry Wizman, Carol Kong, CBA's, Rae Wee, Jamie Freed Organizations: REUTERS, Rights, Treasury, dovish, Atlanta Fed Bank, Minneapolis Fed, U.S, Commonwealth Bank of Australia, New Zealand, Bloomberg, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, U.S, Asia, CHINA, China

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