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☆ Asian shares drop as investors brace for central bank-packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

U.S. West Texas Intermediate crude futures gained 0.8% to $91.52, their highest level since November, while Brent crude futures rose 0.7% to $94.55 per barrel. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.7%. This week, global central banks will take centre stage, with five of those overseeing the 10 most heavily traded currencies holding rate-setting meetings. Last Friday, Wall Street ended sharply lower as U.S. industrial labour action weighed on auto shares. The euro gained 0.1% to $1.0667, after slumping to a 3-1/2 month low of $1.0632 last week as the European Central Bank signalled its rate hikes could be over.

Persons: BOE, BOJ, Taiwan's TSMC, Hong, Tommy Xie, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Shri Navaratnam, Edwina Gibbs Organizations: Federal Reserve, Bank of Japan, Nasdaq, . West Texas, Brent, Japan's Nikkei, Technology, Reuters, Trust, Greater, Greater China Research, OCBC Bank, China Evergrande, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Thomson Locations: China, SYDNEY, Europe, Asia, Pacific, Japan, Zhongrong, Greater China, HK, Pepperstone, Tokyo

☆ Asian shares stumble as investors brace for central bank packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

S&P 500 futures advanced 0.2% while Nasdaq futures edged 0.1% higher. Also, Chinese trust firm Zhongrong International Trust Co, with exposure to Chinese property developers, said over the weekend it was unable to make payments on some trust products on time. The euro recovered 0.1% to $1.0673 in early Asia trade, after slumping to a 3-1/2 month low of $1.0629 last week as the European Central Bank signalled its rate hikes could be over. Brent crude futures rose 0.3% at $94.20 per barrel and U.S. West Texas Intermediate crude futures were up 0.4% at $91.14. Reporting by Stella Qiu; Editing by Lincoln Feast and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: BOE, BOJ, Tommy Xie, Jerome Powell, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Lincoln Organizations: SYDNEY, Federal Reserve, Bank of Japan, Nasdaq, Japan's Nikkei, China Evergrande, HK, International Trust Co, Greater, Greater China Research, OCBC Bank, U.S . Federal, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Brent, . West Texas, Thomson Locations: China, Asia, Pacific, Japan, Hong Kong, Beijing, Greater China, Tokyo

☆ Asian stocks steady, Japan, China central banks interrupt dollar's ascent
▼ + stars: | 2023-09-12 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Japanese government bonds remained under pressure on Tuesday, with 10-year JGB yields up 1 basis point to a fresh high of 0.71%. Japan's Nikkei (.N225) rose 0.61%, with markets looking to U.S. inflation data and this week's European Central Bank meeting to set interest rate expectations and the mood. Overnight, the weaker dollar and upgrade on Tesla from analysts at Morgan Stanley helped U.S. stock markets gain. "There is a sense that ECB is already done for the cycle," said Maybank analysts in a note to clients. "Recent PMI prints suggest that growth outlook could be deteriorating and puts the euro at risk of further downside.

Persons: Kazuo Ueda, Chris Weston, Matt Simpson, Christopher Wong, Morgan Stanley, bitcoin, Lincoln, Simon Cameron, MOore Organizations: Federal Reserve, Bank of Japan, Reuters, Investors, HK, Mainland Properties, Japan's Nikkei, Central Bank, Arm Holdings, New Zealand, ECB, PMI, Fed, Brent, Thomson Locations: SINGAPORE, China, Japan, Melbourne, Hang, Asia, Pacific, British, New York

☆ Yen stands tall, dollar finds floor ahead of U.S. inflation
▼ + stars: | 2023-09-12 | by ( ) www.cnbc.com time to read: +3 min

Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. The Japanese currency was last marginally lower at 146.61 per dollar, after scaling a one-week top of 145.91 in the previous session. Elsewhere, the U.S. dollar reversed some of its close to 0.5% loss against a basket of currencies on Monday. The U.S. dollar index, which ended last week with an eight-week winning streak, rose 0.03% to 104.60, after falling 0.46% in the previous session. The offshore yuan found some support near Monday's one-week high and last bought 7.3020 per dollar.

Persons: Kazuo Ueda, Ueda, Chris Weston, we've, Tony Sycamore, Sterling steadied, bitcoin, Ether, Kyle Rodda Organizations: U.S, Bank of Japan, Federal Reserve, New Zealand, Fed Locations: Tokyo, Japan, United States, U.S, Tony Sycamore ., Monday's, China

☆ Yen stands tall, dollar finds floor ahead of US inflation
▼ + stars: | 2023-09-12 | by ( Rae Wee | ) 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 currency was last marginally lower at 146.61 per dollar, after scaling a one-week top of 145.91 in the previous session. Elsewhere, the U.S. dollar reversed some of its close to 0.5% loss against a basket of currencies on Monday. The U.S. dollar index , which ended last week with an eight-week winning streak, rose 0.03% to 104.60, after falling 0.46% in the previous session. The offshore yuan found some support near Monday's one-week high and last bought 7.3020 per dollar.

Persons: Florence Lo, Kazuo Ueda, Ueda, Chris Weston, we've, Tony Sycamore, Sterling steadied, bitcoin, Ether, Kyle Rodda, Rae Wee, Sam Holmes Organizations: U.S, REUTERS, Rights, Bank of Japan, Federal Reserve, New Zealand, Fed, Capital.com, Thomson Locations: Rights SINGAPORE, United States, U.S, Tony Sycamore ., Monday's, China

☆ Dollar finds feet as investors await further clues on Fed path
▼ + stars: | 2023-08-30 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTOKYO, Aug 30 (Reuters) - The U.S. dollar on Wednesday clawed back some of the previous session's sharp declines as investors looked ahead to more labour market data for clues on the path for Federal Reserve policy. The dollar index - which measures the currency against six major peers including the yen and euro - added 0.09% to 103.64 as of the Asian afternoon. On Tuesday, it had surged to a 10-month peak at 147.375 leading into the JOLTS report, only to end the day with a 0.45% decline. The Aussie dollar dipped as much as 0.46% after the data but eventually shook the data off to trade little changed at $0.64775. The Chinese yuan weakened slightly in offshore trading to 7.3002 per dollar, but remained well above the Aug. 17 low of 7.3490.

Persons: Dado Ruvic, pare, Matt Simpson, Simpson, Naoki Tamura, Jerome Powell, bitcoin, cryptocurrency, we're, Chris Weston, Kevin Buckland, Tom Westbrook, Lincoln, Sam Holmes Organizations: REUTERS, Rights, U.S, Federal Reserve, U.S ., Treasury, Bank of Japan, Money, Fed, Reserve Bank of Australia, People's Bank of, Thomson Locations: People's Bank of China

The dollar index , which measures the U.S. currency against six peers, edged 0.08 lower to 104.08 after hitting its highest since early June on Friday. "It remains unlikely we get a hike from the Fed in September," Chris Weston, head of research at Pepperstone, said. With the Fed highlighting the importance of the upcoming U.S. economic data, investors' focus this week will be on reports on payrolls, core inflation and consumer spending. But the single currency traded near an almost 11-week low hit on Friday after European Central Bank President Christine Lagarde said policy needed to be restrictive. China's yuan steadied against the dollar, buoyed by the Chinese central bank repeatedly setting stronger-than-expected daily-mid-points.

Persons: Dado Ruvic, Jackson, Jerome Powell, Chris Weston, Weston, Rodrigo Catril, Christine Lagarde, Tommy Wu, Joice Alves, Ankur Banerjee, Mark Potter, Barbara Lewis Organizations: REUTERS, Fed, National Australia Bank, European Central Bank, Bank of Japan, Sterling, London, Thomson Locations: SINGAPORE, U.S, China, Japan, London, Singapore

The dollar index , which measures the U.S. currency against six peers, edged 0.06% lower at 104.11, after hitting its highest since early June on Friday. "But November is shaping up to be a 'live' event, where data points have the potential to throw interest rate expectations around." With the Fed highlighting the importance of the upcoming U.S. economic data, investors' focus this week will firmly be on reports on payrolls, core inflation and consumer spending. According to Refinitiv data, the market is now evenly split on whether there will be another rise in the 3.75% rate in September. China's yuan steadied against the dollar, buoyed by the Chinese central bank persistently setting stronger-than-expected daily-mid-points.

Persons: Dado Ruvic, Jerome Powell, Powell, Chris Weston, Weston, Rodrigo Catril, Christine Lagarde, Tommy Wu, Joice Alves, Ankur Banerjee, Mark Potter Organizations: REUTERS, Fed, National Australia Bank, European Central Bank, Bank of Japan, Thomson Locations: SINGAPORE, China, Beijing, U.S, Japan, London, Singapore

☆ Dollar soft as investors digest 'higher for longer' path
▼ + stars: | 2023-08-28 | by ( ) www.cnbc.com time to read: +3 min

"We will proceed carefully as we decide whether to tighten further or, instead, to hold the policy rate constant and await further data," Powell said in a keynote address. "It is the Fed's job to bring inflation down to our 2% goal, and we will do so." "It remains unlikely we get a hike from the Fed in September," said Chris Weston, head of research at Pepperstone. The single currency was up 0.04% to $1.0804, while the pound was last at $1.2599, up 0.17% on the day. The Australian dollar rose 0.55% to $0.644, while the New Zealand dollar gained 0.32% versus the greenback to $0.592.

Persons: Jerome Powell, Powell, Chris Weston, Weston, Rodrigo Catril Organizations: Fed, National Australia Bank, Bank of Japan, New Zealand Locations: Chicago, U.S, Japan

☆ Yen breaks above 145/dlr level in choppy trading, dollar firm
▼ + stars: | 2023-08-14 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The Japanese yen weakened to as low as 145.22 per dollar in early Asian hours, its lowest since Nov. 10 2022 before quickly reversing course. Japan intervened in currency markets last September when the dollar rose past 145 yen, which prompted the Ministry of Finance to buy the yen and push the pair back to around 140 yen. With the yen loitering around that level again, traders expect Japanese officials to start warning of intervention soon. While sentiment towards China is down, this week's high-frequency China data may only need a small beat to cause a strong upside reaction in China proxies, said Pepperstone's Head of Research Chris Weston.

Persons: Yen, Dado Ruvic, warily, Chris Weston, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, United, Federal Reserve, Bank of Japan, Ministry of Finance, Saxo Markets, Treasury, Federal, ANZ, Fed, Thomson Locations: SINGAPORE, Japan, United States, China, Singapore

☆ Yen breaks above 145/dollar level in choppy trading, dollar firm
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: +3 min

A Japanese 10,000 yen and a U.S. 100 dollar banknote juxtaposed against each other in Tokyo, Japan, on Monday, June 20, 2016. The Japanese yen weakened to as low as 145.22 per dollar in early Asian hours, its lowest since Nov. 10, 2022, before quickly reversing course. Japan intervened in currency markets last September when the dollar rose past 145 yen, which prompted the Ministry of Finance to buy the yen and push the pair back to around 140 yen. With the yen loitering around that level again, traders expect Japanese officials to start warning of intervention soon. While sentiment towards China is down, this week's high-frequency China data may only need a small beat to cause a strong upside reaction in China proxies, said Pepperstone's Head of Research Chris Weston.

Persons: warily, Chris Weston Organizations: United, Federal Reserve, Bank of Japan, Ministry of Finance, Saxo Markets, Treasury, Federal, ANZ, Fed Locations: U.S, Tokyo, Japan, United States, China

☆ Dollar on guard ahead of inflation data, euro digests Germany's data
▼ + stars: | 2023-08-07 | by ( ) www.cnbc.com time to read: +3 min

The dollar edged up on Monday after a mixed U.S. jobs report on Friday sent the U.S. currency to a one-week low, with market focus turning to inflation data from the world's two largest economies due this week. U.S. inflation data is due on Thursday, where expectations are for core inflation to have risen 4.7% on an annual basis in July. Against the dollar, the euro fell 0.4% to $1.0966, marching towards a one-month low. The Chinese yuan hovered near a two-week low, with its offshore counterpart last 0.2% lower at 7.2034 per dollar. The yen fell 0.4% to 142.28 per dollar after hitting a one-week high of 141.52 per dollar in Asia trade.

Persons: Chris Weston, Weston, Jane Foley Organizations: U.S, ECB, European Central Bank, Rabobank, Bank, Japan, Bank of England, bps Locations: U.S, Germany, China, Asia

☆ Dollar tentative as US inflation data looms
▼ + stars: | 2023-08-07 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

REUTERS/Rick Wilking/File PhotoSINGAPORE, Aug 7 (Reuters) - The dollar was on the back foot on Monday after a mixed U.S. jobs report provided little directional conviction and as market focus turned to inflation data from the world's two largest economies due this week. The U.S. economy added fewer jobs than expected in July, data on Friday showed, but it recorded solid wage gains and a decline in the unemployment rate. "There was a narrative in there for everyone, depending on your bias," said Pepperstone's Head of Research Chris Weston of the jobs report. U.S. inflation data is due on Thursday, where expectations are for core inflation to have risen 4.7% on an annual basis in July. Elsewhere, the Australian dollar edged 0.1% higher to $0.6577, while the New Zealand dollar gained 0.18% to $0.6109.

Persons: Rick Wilking, Chris Weston, Weston, Rae Wee, Jacqueline Wong Organizations: REUTERS, U.S, Sterling, New Zealand, Bank, Japan, Thomson Locations: Westminster , Colorado, SINGAPORE, U.S, Friday's, China, Asia

☆ Yen eyes first monthly gain since March, dollar headed for monthly loss
▼ + stars: | 2023-07-31 | by ( ) www.cnbc.com time to read: +3 min

Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. The U.S. dollar was conversely headed for a monthly loss on the prospect that the Federal Reserve's aggressive rate-hike cycle, a key driver of the dollar's strength, could have concluded with last week's 25-basis-point increase. Elsewhere, the dollar edged broadly lower in early Asia trade, with the dollar index steadying at 101.62. It was headed for a monthly decline of roughly 1.2%, extending its loss to a second month.

Persons: they've, Chris Weston, Carol Kong, Sterling, CBA's Organizations: U.S, Bank of Japan, Federal, Market Committee, Commonwealth Bank of Australia, Central Bank, Bank of, Australian, New Zealand Locations: Tokyo, Japan, Asia, U.S

☆ Yen eyes first monthly gain since March; dollar headed for monthly loss
▼ + stars: | 2023-07-31 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The yen was about 0.3% lower at 141.57 per dollar, but was headed to end July with a roughly 2% gain, its first monthly rise since March. The dollar eventually ended the Friday session with a 1.2% gain against the Japanese currency, though that was after it had slid 1% to a session-low of 138.05 yen. DOLLAR EYES MONTHLY LOSSThe U.S. dollar was headed for a monthly loss on the prospect that the Federal Reserve's aggressive rate-hike cycle - a key driver of the dollar's strength - could have concluded with last week's 25-basis-point increase. The dollar index was last 0.11% higher at 101.72, but was eyeing a monthly decline of more than 1%, extending its loss to a second month. The euro rose 0.02% to $1.1017 and was eyeing a monthly gain of about 1%, though last week's European Central Bank policy meeting similarly raised the possibility of a rate pause in September.

Persons: they've, Chris Weston, Carol Kong, Sterling, Rae Wee, Himani Sarkar Organizations: Bank of Japan, U.S, Federal, Market, Commonwealth Bank of Australia, Central Bank, Bank of, Thomson Locations: SINGAPORE, Asia, U.S

Headline British consumer price inflation fell to 7.9% year-on-year in June, against expectations for 8.2%, in the latest downside surprise for a major economy after more than 18 months of central banks cranking interest rates higher. The BoE now had "the green light" for a 25 basis point (bps) rate rise next month, Pantheon Macroeconomics chief UK economist Samuel Tombs said, after markets had previously priced a further 50 bps hike. "Profit taking in sterling should not be a surprise," added Kenneth Broux, head of FX and rates corporate research at Societe Generale in London. The 10-year yield, a benchmark for debt costs in the Euro-zone, fell 5 bps to 2.35% . Futures trading indicated Wall Street's S&P 500 and Nasdaq 100 share indices would open steady later in the day.

Persons: Sterling, BoE, Samuel Tombs, Kenneth Broux, Germany's, Klaas, Chris Weston, Sam Holmes, Bernadette Baum Organizations: LONDON, Headline, Sterling, . Federal, Bank of England, Macroeconomics, Societe Generale, European Central Bank, ECB, Pepperstone, Nasdaq, Bank of, Thomson Locations: SYDNEY, London ., disinflation, Europe, Melbourne

Versus the yen the dollar fell 0.28% to 138.36 yen per dollar, after touching its lowest against the Japanese currency in two months on Friday. ,"The FX market is front running possible normalisation of Fed policy in 2024," said Chris Weston, head of research at broker Pepperstone in Melbourne. "The question then is whether the dollar sell-off has gone too far and we are at risk of mean reversion early this week." The Swedish and Norwegian crowns continued to climb after making gains of more than 5% on the dollar last week. The Swedish crown rose 0.2% to 10.2360 against the dollar, the Norwegian crown rose instead 0.4% to 10.0160.

Persons: Francesco Pesole, Chris Weston, Carol Kong, Sharp, Joice Alves, Tom Westbrook, Angus MacSwan, Andrew Heavens Organizations: ING, Federal Reserve, Fed, European Central Bank, Pepperstone, U.S, New Zealand, Commonwealth Bank of Australia, dovish Bank of, Thomson Locations: SYDNEY, U.S, Germany, Europe, Melbourne, dovish Bank of Japan, Norwegian, London, Sydney

☆ Dollar licks wounds as policy peak looms
▼ + stars: | 2023-07-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The euro , which jumped 2.4% last week to a 16-month high, held just below that peak at $1.1223. The yen , also up 2.4% last week, held at 138.56 per dollar. The Australian and New Zealand dollars pulled back slightly, with the Aussie last at $0.6821 - off last week's peak of $0.6895 - and the kiwi down 0.2% at $0.6355 after hitting a five-month high of $0.6412 on Friday. The Swedish and Norwegian crowns made gains of more than 5% on the dollar last week, and have paused for breath. "By then other major central banks including the ECB will also likely have reached their peak policy rates ... interest rate dynamics may therefore swing back in favour of the dollar."

Persons: Carol Kong, Chris Weston, Sharp, Jane Foley, Tom Westbrook, Sam Holmes, Stephen Coates Organizations: SYDNEY, New Zealand, Commonwealth Bank of Australia, Federal Reserve, European Central Bank, Pepperstone, U.S, dovish Bank of Japan, ECB, Thomson Locations: Europe, Melbourne, Asia

☆ Dollar licks wounds as China data looms
▼ + stars: | 2023-07-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +2 min

The euro , which jumped 2.4% last week to a 16-month high, held just below that peak at $1.1228. The yen , also up 2.4% last week, held at 138.69 per dollar. "The FX market is front running possible normalisation of Fed policy in 2024," said Chris Weston, head of research at broker Pepperstone in Melbourne. "The question then is whether the dollar sell-off has gone too far and we are at risk of mean reversion early this week." The Swedish and Norwegian crowns made gains of more than 5% on the dollar last week.

Persons: Chris Weston, Sharp, Jane Foley, Tom Westbrook, Sam Holmes Organizations: SYDNEY, Federal Reserve, European Central Bank, Pepperstone, U.S, New Zealand, dovish Bank of Japan, ECB, Thomson Locations: U.S, Europe, Melbourne, Asia

Second-biggest token Ether had its best session since March and Ripple , which a U.S. judge ruled could be legally sold on public crypto exchanges, soared 73%. "The regulatory environment is changing," said Matthew Dibb, chief investment officer at crypto asset manager Astronaut Capital. He said further cases would probably shed more light on how courts will treat private crypto offerings. The world's biggest asset manager, BlackRock (BLK.N), filed to launch a bitcoin exchange traded fund last month and earlier in July exchange operator Cboe (CBOE.Z) refreshed its filing for a similar fund to be run by asset manager Fidelity. "For the first time in a while, it's been consistently positive news coming though and that means you've got momentum."

Persons: Bitcoin, Matthew Dibb, Justin d'Anethan, Greg Moritz, FTX, Sam Bankman, Alex Mashinsky, We'd, Chris Weston, it's, Vidya Ranganathan, Simon Cameron, Moore Organizations: Capital, BlackRock, Fidelity, Investors, Solana, Commodity Futures, Commission, Tab, Traders, U.S, SEC, Thomson Locations: SINGAPORE, U.S, Asia, Keyrock, Hong Kong, reining, China, noncomplicance, Melbourne, Singapore

A U.S. judge said on Thursday that Ripple Labs Inc did not violate securities law by selling its XRP token on public exchanges. Although the decision was specific to the individual case, it unleashed a wave of optimism among crypto investors that more cryptocurrencies may also not be deemed securities. Still, the enthusiasm for some was tempered by a report from the Wall Street Journal that Binance, the world's largest cryptocurrency exchange, has laid off more than 1,000 people in recent weeks. "The regulatory environment is changing," said Matthew Dibb, chief investment officer at crypto asset manager Astronaut Capital. Still, crypto investors have taken encouragement from the world's biggest asset manager, BlackRock (BLK.N), filing to launch a bitcoin exchange traded fund last month.

Persons: XRP, Coinbase, Bitcoin, Matthew Dibb, Justin d'Anethan, Binance.US, bode, Sam Bankman, Alex Mashinsky, Patrick Hillmann, Hillmann, We'd, Chris Weston, it's, Vidya Ranganathan, Simon Cameron, Moore, Alex Richardson, Josie Kao Organizations: Labs, U.S . Securities, Exchange Commission, Wall Street, Capital, SEC, U.S, Wall, Twitter, BlackRock, Fidelity, Thomson Locations: SINGAPORE, WASHINGTON, U.S, California , New Jersey, South Carolina, Wisconsin, Asia, Keyrock, Hong Kong, XRP, reining, China, Binance, Melbourne, Singapore

☆ Dollar softens, China's yuan draws support from stimulus hopes
▼ + stars: | 2023-07-10 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The U.S. economy added 209,000 jobs last month, data on Friday showed, missing market expectations for the first time in 15 months. That caused U.S. Treasury yields to slump and sent the dollar down nearly 1% against a basket of currencies on Friday while the yen and sterling surged. The dollar/yen pair is particularly sensitive to U.S. yields as interest rates in Japan are anchored near zero. The market reaction to the data was largely muted, as it fuelled hopes that Chinese authorities would soon unveil further stimulus measures for the economy. The offshore yuan last traded at 7.2290 per dollar, while the Aussie fell 0.14% to $0.6683.

Persons: Chris Weston, We've, we've, it's, Weston, Christopher Wong, Rae Wee, Sam Holmes, Simon Cameron, Moore Organizations: Treasury, Bank of England, U.S, Australian, New Zealand, Thomson Locations: SINGAPORE, U.S, Asia, Japan, China

☆ Dollar softens, China inflation data takes center stage
▼ + stars: | 2023-07-10 | by ( ) www.cnbc.com time to read: +2 min

The dollar was on the back foot on Monday after a miss in U.S. jobs data scaled back market expectations on how much further the Federal Reserve would need to raise rates, while focus in the Asia day was on China's inflation data release. That sent the dollar tumbling nearly 1% against a basket of currencies on Friday while the yen and sterling surged. "But it sort of screams out that the market obviously sees the Fed in the later stage of the (monetary tightening) cycle." The Australian dollar , which is often used as a liquid proxy for the yuan, was last 0.14% lower at $0.6683, while the New Zealand dollar fell 0.16% to $0.6199. "We expect more policy measures from the (People's Bank of China) to damp the yuan depreciation expectations, which should offer support to the currency going forward."

Persons: payrolls, Chris Weston, We've, we've, it's, Weston Organizations: Federal, Treasury, Bank of England, U.S, New Zealand, CPI, People's Bank of Locations: Asia, U.S, Japan, Beijing, People's Bank of China

☆ Asian shares fall on growth concerns, focus shifts to Fed minutes
▼ + stars: | 2023-07-05 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

S&P 500 futures dipped 0.1% and Nasdaq futures fell 0.2%. Australia's resources heavy shares (.AXJO) fell 0.2% after the Reserve Bank of Australia held rates steady on Tuesday but warned of more tightening ahead. However, shares of some Chinese makers of products used to make chips rallied as supply concerns sent prices of the metals higher. "It now seems the thesis has evolved, and the market wants to see strong job creation, conditional on subdued wage growth." Brent crude futures fell 0.6% to $75.78 a barrel after climbing 2.1% overnight.

Persons: HSI, Andrew McCaffery, Janet Yellen, Chris Weston, Brent, Stella Qiu, Sam Holmes Organizations: Nikkei, SYDNEY, Federal, Day, Nasdaq, Japan's Nikkei, Reserve Bank of Australia, Fidelity International, Traders, Reuters, Australian, Thomson Locations: U.S, Asia, Pacific, Japan, China, US, Beijing, Washington, United States, Saudi Arabia, Russia

☆ Morning Bid: Hawkish pause for thought?
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

Asian equities are carrying on the global rally, setting Europe up nicely to do the same. The Fedspeak that has been such a big driver of markets in recent weeks, will go quiet in the days ahead with officials in a blackout period. There's been a slight pullback in expectations for further tightening after last week's data showed euro-area CPI cooling more than analysts predicted. Lagarde said that day that there was still "ground to cover" in the tightening cycle. The lira weakened more than 1% to 21.12 per dollar in thin Asian trading, approaching the record low of 21.80 marked last week.

Persons: Kevin Buckland, Chris Weston, Christine Lagarde, There's, Lagarde, Ignazio Visco, Brent, Tayyip Erodogan, Mehmet Simsek, Sam Holmes Organizations: Fed, Reuters Graphics Reuters, ECB, Economic, Monetary Affairs, Bank of Italy, PPI, Thomson Locations: Europe, United States, Saudi Arabia, OPEC, Germany, Switzerland, Spain, Italy, France

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