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☆ Asia stocks hold gains as confidence grows on rate outlook
▼ + stars: | 2023-11-23 | by ( Selena Li | ) www.reuters.com time to read: +4 min

China's benchmark share index (.CSI300) fell 0.16% on Thursday, with the real estate sub-index (.CSI931775) retrieved earlier losses to gain 2.11%. Chinese government advisers will recommend to an annual policymakers' meeting that economic growth targets for next year be set at 4.5% to 5.5%, Reuters reported on Wednesday. Markets have generally been buoyant this month, with stocks rallying on expectations of a more benign interest rate backdrop. The next set of forward-looking flash November PMIs will help investors to assess recession risks and how quickly rate cuts might begin. The minutes of the European Central Bank's October meeting and flash PMIs for a host of European countries are Thursday's highlights.

Persons: Tyrone Siu, shrugged, Redmond Wong, Brent, Sterling, Jeremy Hunt, Changpeng Zhao, Bitcoin, Selena Li, Edmund Klamann, Stephen Coates Organizations: REUTERS, Bloomberg, Garden Holdings, HK, Reuters, U.S, The, Federal Reserve, Saxo Markets, Nikkei, Nasdaq, European Central, PMI, OPEC, FTSE, UK Finance, Thomson Locations: Exchange, Hong Kong, China, HONG KONG, Asia, Pacific, Japan, United States, The U.S, Greater China, Australia, Britain, U.S

☆ Asia stocks hold recent gains as confidence grows on rate outlook
▼ + stars: | 2023-11-23 | by ( Selena Li | ) www.reuters.com time to read: +4 min

Investors are also looking to Chinese policymakers for clues on possible support for the long-suffering property market, in line with broader growth targets they are hammering out. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged down 0.11% in thin trading, with Japan and the United States on holiday. Chinese government advisers will recommend to an annual policymakers' meeting that economic growth targets for next year be set at 4.5% to 5.5%, Reuters reported on Wednesday. Markets have generally been buoyant this month, with stocks rallying on expectations of a more benign interest rate backdrop. The next set of forward-looking flash November PMIs will help investors to assess recession risks and how quickly rate cuts might begin.

Persons: Tyrone Siu, shrugged, Redmond Wong, Brent, Sterling, Jeremy Hunt, Changpeng Zhao, Selena Li, Edmund Klamann Organizations: REUTERS, Federal Reserve, Saxo Markets, Nikkei, Reuters, Nasdaq, OPEC, FTSE, UK Finance, Thomson Locations: Exchange, Hong Kong, China, HONG KONG, Asia, Pacific, Japan, United States, U.S, Greater China, Australia, Britain

☆ Time to invest in China? The pros weigh in on what sectors and stocks to play right now
▼ + stars: | 2023-11-15 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +5 min

Chinese stocks too have done poorly. 'High confidence in the tradable value' While the Chinese economy "is not very strong," Wong has "high confidence in the tradable value," of Chinese stocks. Stocks to play Goldman is overweight on several sectors including online retail, media/entertainment, tech hardware, health care equipment and services and food & beverage. Other stocks the investment bank sees outperforming "as the China growth story evolves" include internet services provider NetEase , technology hardware manufacturer Xiaomi , and manufacturing conglomerate BYD . China-focused ETFs Elsewhere, Saxo's Wong has his eye on the new infrastructure (such as 5G technology), industrial technology and agricultural technology themes.

Persons: Redmond Wong, Wong, Goldman Sachs, Stocks, Goldman, Saxo's Wong, — CNBC's Michael Bloom, Clement Tan Organizations: Shenzhen Component, Saxo, CNBC, National Bureau of Statistics, Tech, Baidu, Galaxy Entertainment, Mining, China Resources Beer, Miniso, Hong Kong Exchange, CSI Agriculture, CSI 5G Communications, CSI Technology, Enterprises Locations: Shenzhen, China, Taiwan, India, South Korea, Brazil, Mexico

☆ Some fund managers see merit in China's deeply discounted stocks
▼ + stars: | 2023-11-14 | by ( Summer Zhen | ) www.reuters.com time to read: +5 min

U.S. asset manager Fidelity International is highlighting China's looser monetary policy and the government's recent 1 trillion yuan ($137.10 billion) borrowing-and-spending sovereign bond plan as a tailwind for the country's stock markets. London-based £3 billion fund manager Somerset Capital Management likewise finds China exciting. The stock market has yet to recover, but has stabilised. Morgan Stanley estimates long-only foreign investors now have their deepest underweight positions in China and Hong Kong equities in years. Chinese stocks could see a short-term sentiment pick-up given foreign funds have such light positions in the market, said Redmond Wong, Greater China market strategist at Saxo Markets.

Persons: Dado Ruvic, ”, Marty Dropkin, Mark Williams, Morgan Stanley, Patrick Ghali, Sean Ho, Vivek Tanneeru, Redmond Wong, Summer Zhen, Xie Yu, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Fidelity, Asia Pacific, Fidelity International . London, Somerset Capital Management, Nasdaq, Japan’s Nikkei, Sussex Partners, Hong, China, Hang Seng Tech, Monetary Fund, Cambridge Associates, Capital, “, Triata, Matthews Asia, Saxo Markets, Thomson Locations: HONG KONG, China, U.S, Asia, Hong Kong, London, Boston, San Francisco, Greater China

☆ Instant View: BOJ modifies bond yield control, re-defines long-term rate cap
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +10 min

But it's also likely the BOJ have their finger on the intervention button to cap any runaway rally on USD/JPY." Nevertheless, this is working in a way to increase the volatility of the global rates market. This means it will still have a certain distance until the BOJ exit from the negative rate policy." "A yield cap isn't a yield cap if you change it every time the market gets close." The Bank of Japan could lift the negative policy rate to zero over the coming year.

Persons: Kim Kyung, KYLE RODDA, MATT SIMPSON, JPY, it's, NOMURA, They've, TONY SYCAMORE, normalisation, TAKAYUKI MIYAJIMA, ROB CARNELL, they're, JEFF NG, TOM NASH, OMORI, SHOTARO KUGO, me, IZURU KATO, MARCEL THIELIANT, today's, FREDERIC NEUMANN, CHRISTOPHER WONG, BOJ's, Sherry Jacob, Phillips Organizations: National Printing Bureau, Bank of Japan, REUTERS, Bank of, Nikkei, SAXO, SONY, ING, UBS, CHIEF, DAIWA, OF, HSBC, Global, Thomson Locations: Tokyo, Japan, Bank of Japan, MELBOURNE, BRISBANE, SINGAPORE, TOKYO, U.S, SYDNEY, ASIA, PACIFIC, CHIEF JAPAN, stagflation, OF ASIA, YCC, HONG KONG

☆ 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

SummaryCompanies Safe-haven buying pushes up goldFocus on Fed Chair Jerome Powell's speech on ThursdayOct 18 (Reuters) - Gold rose to a more than two-month peak on Wednesday as the escalating conflict in the Middle East sent investors flocking towards the safe-haven metal. Spot gold increased 1% to $1,950.67 per ounce by 2:48 p.m. "Gold could breach $2,000 in the near-term if there is an escalation of geopolitical conflict. "Gold will pull back if the Middle East situation simmers down, but right now the market place is expecting a further escalation," said Jim Wyckoff, senior analyst at Kitco Metals. Spot silver rose 0.2% to $22.87, platinum fell 1.4% to $884.89 and palladium fell 1% to $1,132.61.

Persons: Jerome Powell's, Ryan McIntyre, Jim Wyckoff, Fawad, Ole Hansen, Ashitha, Daksh Grover, Sharon Singleton, Shilpi Majumdar, Shailesh Organizations: East, Sprott Asset Management, Graphics, Kitco Metals, City, Reuters Graphics Reuters, Federal, Saxo Bank, Thomson Locations: Gaza City, Bengaluru

☆ Dollar drifts as investors eye Powell speech, yen wobbles near intervention zone
▼ + stars: | 2023-10-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The yen was pinned close to the key 150 per dollar level, keeping traders on edge for any signs of intervention by the Japanese authorities. The yen last fetched 149.62 per dollar, having slipped to 150.17 on Oct. 3, the weakest in a year, before getting some relief in a brief rally. The dollar index , which measures the U.S. currency against six rivals, eased 0.038% to 106.20, after dropping 0.36% on Monday. Federal Reserve Bank of Philadelphia President Patrick Harker said on Monday the central bank should not create new pressures in the economy by increasing the cost of borrowing. Christopher Wong, currency strategist at OCBC, said the dollar is likely caught in a range for now.

Persons: Dado Ruvic, Powell, Masato Kanda, Israel's shekel, Charu, Jerome Powell, Patrick Harker, Harker, Christopher Wong, Wong, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, Rights, U.S ., Swiss, Palestinian, Hamas, Saxo, Federal Reserve Bank of Philadelphia, Reserve Bank of Australia's, News Zealand, Thomson Locations: Rights SINGAPORE, East, Singapore, Australia's

"The most serious outcome for crude is that the conflict escalates into a more devastating proxy war which could affect crude supply," said Rebecca Babin, senior energy trader at CIBC Private Wealth US. Israel's port of Ashkelon and its oil terminal have been shut in the wake of the conflict, sources said. Goldman Sachs said the conflict reduced the likelihood of normalization of Israel's relations with Saudi Arabia, and the associated boost to Saudi production over time. The conflict is likely to lead to higher volatility and speculation in oil markets, the CEO of Brazil's Petrobras (PETR4.SA) said. High oil price due to the conflict could bolster inflation, analysts said, forcing rate hikes that could dampen demand.

Persons: recouping, Brent, WTI, Israel, Rebecca Babin, Agustin Marcarian, Goldman Sachs, Caroline Bain, Saxo Bank's Ole Hansen, Nicolas Maduro, Arathy Somasekhar, Natalie Grover, Andrew Hayley, Emily Chow, Kirsten Donovan, Lisa Shumaker, David Gregorio Our Organizations: HOUSTON, . West Texas, Reuters Graphics Reuters, Hamas, CIBC Private Wealth, Israel, REUTERS, Saudi, Analysts, Capital Economics, U.S, Petrobras, PETR4, Thomson Locations: Saudi, Israel, Ashkelon, Israel US, Venezuela, Palestinian, Gaza, Saudi Arabia, Washington, Riyadh, Vaca, Patagonian, Neuquen, Argentina, Moscow, U.S, Iran, Russia, Caracas, Mexico, Tel Aviv, Houston, London, Beijing, Singapore

Oct 9 (Reuters) - Fears of a widening conflict in the Middle East are threatening more volatility for investors after a painful stretch in U.S. markets. Investors were on guard for the potential of the conflict spreading to embroil other countries, including Iran, and a continued spike in oil prices. Prices for gold, a popular destination for investors during uncertain times, were up 1.2% at $1,854.10 per ounce. Among those is the potential of a rebound in oil prices that could weigh on U.S. economic growth and endanger the so-called soft landing narrative that has helped boost stocks this year. “The worst-case scenario from a geopolitical risk perspective would be a full-scale confrontation between Israel and Iran,” said Tina Fordham, geopolitical strategist and founder of Fordham Global Foresight.

Persons: Brent, ”, Mohit Kumar, Tina Fordham, Paul Nolte, Emmanuel Cau, Althea Spinozzi, Naomi Rovnick, Lewis Krauskopf, Dhara Ranasinghe, Davide Barbuscia, Noel Randewich, Marc Jones, Ira Iosebashvili, Nick Zieminski Organizations: Jefferies, Fordham Global Foresight, Federal Reserve, Murphy, Sylvest Wealth Management, Reuters Graphics Reuters, Treasury, Barclays, Mobileye, Intel, Solaredge Technologies, East, Saxo Bank, Thomson Locations: U.S, Gaza, Iran, Europe, London, Israel, United States, Germany

Oct 9 (Reuters) - Fears of a widening conflict in the Middle East are threatening more volatility for investors after a painful stretch in U.S. markets. Investors were on guard for the potential of the conflict spreading to embroil other countries, including Iran, and a continued spike in oil prices. Prices for gold, a popular destination for investors during uncertain times, were up 0.9% at $1,849.40 per ounce. Among those is a potential rebound in oil prices that could weigh on U.S. economic growth and endanger the so-called soft landing narrative that has helped boost stocks this year. “The worst-case scenario from a geopolitical risk perspective would be a full-scale confrontation between Israel and Iran,” said Tina Fordham, geopolitical strategist and founder of Fordham Global Foresight.

Persons: Brent, ”, Mohit Kumar, Tina Fordham, Paul Nolte, Murphy, Emmanuel Cau, Althea Spinozzi, Naomi Rovnick, Lewis Krauskopf, Dhara Ranasinghe, Davide Barbuscia, Marc Jones, Ira Iosebashvili, Nick Zieminski Organizations: Jefferies, Fordham Global Foresight, Federal Reserve, Sylvest Wealth Management, Treasury, Barclays, Mobileye, Intel, Solaredge Technologies, East, Saxo Bank, Thomson Locations: U.S, Gaza, Iran, Europe, London, Israel, United States, Germany

Brent crude was up $3.24, or 3.8%, to $87.85 a barrel by 11 a.m. ET (1500 GMT), while U.S. West Texas Intermediate crude was at $86.19 a barrel, up $3.40 or about 4.1%. Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. Analysts suggested the implications of the conflict could include a potential slowdown in Iranian exports, which have grown significantly this year, despite U.S. sanctions. Any production and export disruption would exacerbate supply tightness as most analysts expect markets to be in a deficit in the second half of the year.

Persons: recouping, Brent, WTI, Tudor Pickering, Matt Portillo, Agustin Marcarian, Saxo Bank's Ole Hansen, Caroline Bain, Arathy Somasekhar, Natalie Grover, Andrew Hayley, Emily Chow, Kirsten Donovan, Lisa Shumaker Organizations: U.S, West Texas, Reuters Graphics Reuters, Saturday, REUTERS, Israel, White, Capital Economics, Thomson Locations: Saudi, Israel, HOUSTON, Palestinian, Holt, Gaza, Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Washington, Riyadh, Moscow, Russia, U.S, Iran, Houston, London, Beijing, Singapore

"The recent decline in European luxury stocks reflects the uncertainty over the European economy and also the uneven growth outlook for the Chinese economy," Garnry said. Reuters GraphicsTHE LUXURY GAPAlthough luxury valuations have come down, they are still well above the rest of the market. The end of the French luxury group's 2-1/2 year-long reign was widely put down to investors losing appetite for luxury stocks as well as the growth of Novo's anti-obesity drug Wegovy. Some analysts have turned cautious on the luxury sector, with UBS last week reducing its estimates to account for the risk of slowing Chinese consumption. Gerry Fowler, head of European equity strategy and global derivative strategy at UBS, said risks in luxury stocks started to become more apparent in May.

Persons: Louis, Stephanie Lecocq, Bernard Ahkong, Peter Garnry, Garnry, LVMH, Morgan Stanley, Gerry Fowler, Bernstein, Gilles Guibout, Lucy Raitano, Mimosa Spencer, Amanda Cooper, Alexander Smith Organizations: REUTERS, Paris Fashion, U.S, UBS O'Connor Global, Alpha, Saxo Bank, Reuters Graphics, GAP, Novo Nordisk, UBS, Bank of America, AXA Investment Mangers, Thomson Locations: Paris, France, PARIS, Europe, U.S, China, United States

Spot gold was up 0.6% at $1,831.09 per ounce by 1:41 p.m. EDT (1741 GMT) but on track for its second straight weekly loss, down 0.9% so far. Reuters GraphicsBenchmark Treasury yields headed for a weekly increase, denting the appeal of gold. The bounce in gold prices despite the strong jobs data indicates that selling pressure has been exhausted and there is covering of short positions, said Tai Wong, a New York-based independent metals trader. Spot silver gained 3.1% to $21.54 an ounce, platinum rose 2.6% to $876.73 and palladium firmed 1.8% to $1,161.72. All were on track for weekly losses.

Persons: サマリー, Tai Wong, Ole Hansen, Hansen, Ashitha Shivaprasad, Brijesh Patel, Rod Nickel, Kirsten Donovan 私たち Organizations: Graphics, U.S . Labor, Traders, Saxo Bank Locations: U.S, New York, Bengaluru

HONG KONG/BEIJING, Sept 28 (Reuters) - China Evergrande Group's (3333.HK) founder is being investigated over suspected "illegal crimes", the embattled developer said on Thursday, as creditors become increasingly concerned about the group's prospects amid an uncertain debt revamp plan and liquidation risk. Evergrande has been working to get creditors' approval for restructuring its offshore debt. The offshore debt restructuring plan now looks set to falter and the risks of the company being liquidated are rising, some analysts said. An Evergrande sign is seen near residential buildings at an Evergrande residential complex in Beijing, China September 27, 2023. "We believe that Evergrande's debt turmoil has had a great turmoil and negative impact on the global economy, and the things behind it are not simple."

Persons: Hui Ka Yan, Evergrande, Hui, Gary Ng, Ng, Florence Lo, They've, Christopher Beddor, Yan Yuejin, Saxo, Redmond Wong, Upasana Singh, Donny Kwok, Scott Murdoch, Ziyi Tang, Anne Marie Roantree, Sumeet Chatterjee, Kim Coghill, Shri Navaratnam, Lincoln, Miral Fahmy, Susan Fenton Organizations: HK, Trading, Asia Pacific, Reuters, REUTERS, Evergrande, China Research, Development Institution, Buyers, China Market, Thomson Locations: HONG KONG, BEIJING, China, Asia, Beijing, Evergrande, Shanghai, Bengaluru, Hong Kong, Sydney

☆ Once dubbed a 'zombie' index, this Asian stock market is trying European-style trading to reinvent itself
▼ + stars: | 2023-09-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +5 min

Structured certificates are financial instruments issued by a third party, that are based on underlying assets — their returns depend on the performance of the asset, which can be a single stock or an equity index. Singapore began offering listed structured certificates on Aug. 30, with its inaugural issue being one linked to Hong Kong-listed shares of Chinese tech giant Alibaba Group Holding . "So tech names, Hong Kong names, U.S. names, Japanese names. SGX's move to broaden its equity-linked product base "could drive incremental market interest," including offering depository receipts and structured certificates, Wickramasinghe told CNBC. Structured certificates are more more popular in Europe, as investors there are "broadly speaking, very yield focused," Syn told CNBC.

Persons: Roslan RAHMAN, ROSLAN RAHMAN, Roslan Rahman, Thilan Wickramasinghe, Michael Syn, CNBC's, Serene Cai, Tharman, Wickramasinghe, Syn, Adam Reynolds, Reynolds Organizations: Getty, Afp, Singapore Exchange, CNBC, Inside Venture, Saxo Markets Locations: Singapore, AFP, Asia, Hong Kong, SGX, Pacific, Europe

☆ Evergrande shares halted as concerns mount about developer's prospect
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +3 min

An Evergrande sign is seen near residential buildings at an Evergrande residential complex in Beijing, China September 27, 2023. Evergrande has been working to get creditors' approval for restructuring its offshore debt. The offshore debt restructuring plan now looks set to falter and the risks of the company being liquidated are rising, some analysts said. The company shares ended down 19% on Wednesday in the Hong Kong market, taking their losses to 81% since the resumption of trading in late August after a 17-month suspension. The recent regulatory easing may stabilize the housing market in the world's second-largest economy to some extent, Saxo Greater China Market Strategist Redmond Wong wrote in a research note.

Persons: Florence Lo, Hui Ka Yan, Hui, Evergrande, Gary Ng, Ng, Redmond Wong, Donny Kwok, Scott Murdoch, Ziyi Tang, Anne Marie Roantree, Sumeet Chatterjee, Kim Coghill, Shri Navaratnam Organizations: REUTERS, China Evergrande, HK, Bloomberg, Reuters, Asia Pacific, China Market, Thomson Locations: Beijing, China, HONG KONG, China's, Evergrande, Asia, Hong Kong, Saxo, Sydney, Lincoln

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. The U.S. central bank on Wednesday kept its key lending rate steady, as expected, but indicated another hike is possible as it and other central banks tighten policy to tame inflation. Major equity indices in Europe and on Wall Street fell more than 1% on concerns higher rates will curb growth. /FRXMirroring a rise in Treasury yields, Germany's 10-year government bond yield touched a fresh six-month high of 2.73% and Britain's 10-year gilt yield rose to 4.29% after falling on Wednesday to its lowest since July. Gold extended its decline for a third straight day as the dollar and Treasury yields rallied on the Fed's warning of a possible additional rate hike.

Persons: Brendan McDermid, there's, Michael Arone, Jack Ablin, it's, John Hardy, Hardy, Brent, Xie Yu, Marguerita Choy, Tomasz Janowski, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Swiss, Bank of England, Swiss National Bank, Fed, State Street Global Advisors, Reuters, Treasury, Cresset Capital Management, Saxo Bank, Dow Jones, Nasdaq, Sterling, Reuters Graphics, U.S, West Texas Intermediate, Thomson Locations: New York City, U.S, Norway, Sweden, Europe, Boston, Pebble Beach , Florida, Hong Kong

☆ Dollar reigns as Europe's central banks spring some surprises
▼ + stars: | 2023-09-21 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

"It punctures the balloon on terminal rates and also creates more second guessing on the quality of the (economic) landings". With a crucial Bank of Japan meeting still to come this week, Japan's 10-year government bond yield rose to its highest in a decade. Ben Luk, senior multi-asset strategist at State Street Global Markets said the overall tone of the Fed's meeting on Wednesday, while not overly hawkish, included two surprises. The median forecast for the federal funds rate is 5.1% by year-end, up from 4.6% estimated in June. Additional reporting by Xie Yu in Hong Kong Editing by Shri Navaratnam and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: BoE, Bond, John Hardy, Hardy, Goldman Sachs, Tom Hopkins, Ben Luk, Wall, Brent, clawing, Gold, Xie Yu, Shri Navaratnam, Tomasz Janowski Organizations: Sterling, Swiss, U.S . Federal Reserve, Dealers, Swiss National Bank, Bank of England, Saxo Bank, BRI Wealth Management, Treasury, Reuters Graphics, Apple, Nvidia, Japan's Nikkei, of Japan, State Street Global Markets, Thomson Locations: Europe, Britain, Sweden, Norway, Turkey, U.S, Asia, Pacific, Japan, Saudi Arabia, Russia, Hong Kong

☆ Oil is heading for $100 a barrel – and that could spoil everything for the Fed
▼ + stars: | 2023-09-20 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Oil prices have been on the rise in recent months and are heading towards $100 a barrel. AdvertisementAdvertisement"Investors are weighing the signals from stronger oil prices, and what it means for inflation, and the signals from the Fed at tonight's rate decision," said Saxo Bank's Peter Garnry ahead of the announcement. Higher oil prices drive up the cost of gasoline and other crude-related products, in turn squeezing the Consumer Prices Index higher. In the 1970s, multiple supply crises in the Middle East led to key benchmarks spiking above $120 a barrel in today's money. That lead economists to coin the term "stagflation," referring to a combination of soaring prices and weak growth that the Fed was unable to fix.

Persons: Brent, Saxo, Peter Garnry Organizations: Federal Reserve, Service, West Texas Intermediate Locations: Wall, Silicon, Russia, Saudi Arabia

☆ Dollar shines as US economy outperforms, yen at 10-month low
▼ + stars: | 2023-09-07 | by ( Rae Wee | ) www.reuters.com time to read: +4 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 greenback scaled a fresh top of 147.875 yen in early Asia trade, its highest since last November. That did little to help the Australian dollar , which was still down 0.15% at $0.6373, while the New Zealand dollar last bought $0.58735, with both languishing near their recent 10-month lows. The offshore yuan fell marginally to 7.3255 per dollar, while its onshore counterpart was pinned near the previous session's 10-month low. "As we have seen in the past, real intervention barely reverses the course of the yen sustainably."

Persons: Florence Lo, Sterling, Joseph Capurso, BoE, Andrew Bailey, Governor Bailey, Capurso, Saxo, Charu Chanana, Rae Wee, Jacqueline Wong Organizations: U.S, REUTERS, Rights, Commonwealth Bank of Australia, Federal Reserve, Bank of England, European Central Bank, ECB, New Zealand, Thomson Locations: Rights SINGAPORE, China's, Beijing, Asia, U.S, ASIA, Japan

☆ Dollar shines as U.S. economy outperforms, yen plumbs 10-month low
▼ + stars: | 2023-09-07 | by ( ) www.cnbc.com time to read: +4 min

The greenback scaled a fresh top of 147.865 yen in early Asia trade, its highest since last November. The Japanese currency last bought 147.76 per dollar, having weakened past the closely-watched 145 threshold for nearly a month now. "Yen's verbal intervention begs the question whether a real intervention is likely," said Saxo market strategist Charu Chanana. "As we have seen in the past, real intervention barely reverses the course of the yen sustainably." The Australian dollar slid 0.05% to $0.63795, while the New Zealand dollar fell 0.01% to $0.5869, with both languishing near their recent 10-month lows.

Persons: Sterling, Joseph Capurso, BoE, Andrew Bailey, Governor Bailey, Capurso, Saxo, Charu Chanana Organizations: greenback, Commonwealth Bank of Australia, Federal Reserve, Bank of England, European Central Bank, ECB, Australian, New Zealand Locations: Asia, U.S, Japan

☆ Dollar shines as US economy outperforms, yen plumbs 10-month low
▼ + stars: | 2023-09-07 | by ( Rae Wee | ) www.reuters.com time to read: +4 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 last bought 147.76 per dollar, having weakened past the closely-watched 145 threshold for nearly a month now. "Yen's verbal intervention begs the question whether a real intervention is likely," said Saxo market strategist Charu Chanana. "As we have seen in the past, real intervention barely reverses the course of the yen sustainably." The Australian dollar slid 0.05% to $0.63795, while the New Zealand dollar fell 0.01% to $0.5869, with both languishing near their recent 10-month lows.

Persons: Florence Lo, Sterling, Joseph Capurso, BoE, Andrew Bailey, Governor Bailey, Capurso, Saxo, Charu Chanana, Rae Wee, Jacqueline Wong Organizations: U.S, REUTERS, Rights, Commonwealth Bank of Australia, Federal Reserve, Bank of England, European Central Bank, ECB, Australian, New Zealand, Thomson Locations: Rights SINGAPORE, Asia, U.S, ASIA, Japan

☆ Asia stocks slip, dollar firms on growth concerns, Fed outlook
▼ + stars: | 2023-09-06 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsHONG KONG, Sept 6 (Reuters) - Asia stocks fell on Wednesday after faltering growth in China and Europe heightened concerns about global economic momentum, while the dollar firmed as investors weighed the outlook for Federal Reserve interest rates. MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) dipped 0.45%. "The China decline was bigger than expected," said Redmond Wong, Greater China market strategist at Saxo Markets. Manufacturing data from Germany, Britain and the euro zone also showed declines, while their service sectors fell into contraction. "The Europe data were rather weak.

Persons: Androniki, HSI, Redmond Wong, Wong, Australia's, Christopher Waller, John Milroy, Ord Minnett, Brent, Kane Wu, Edmund Klamann, Sam Holmes Organizations: REUTERS, Federal Reserve, Saxo Markets, Nikkei, U.S, BlackRock Investment Institute, Institute for Supply Management, PMI, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, China, Europe, London, U.S, 0520GMT, Asia Pacific, Greater China, Germany, Britain, BlackRock, ., Saudi Arabia, Russia

☆ Asia stocks fall as global growth concerns mount
▼ + stars: | 2023-09-06 | by ( Kane Wu | ) www.reuters.com time to read: +2 min

REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsHONG KONG, Sept 6 (Reuters) - Asia stocks fell on Wednesday after weak economic data in China and Europe heightened concerns over global growth, while the dollar firmed as investors weighed the outlook for U.S. interest rates. MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) was down 0.5% at 0143GMT. The Hang Seng Index (.HSI) and China's benchmark CSI300 Index (.CSI300) both opened down about 0.3%. Shares in Europe and the U.S. fell on Tuesday over concerns about weak global growth. (This story has been refiled to correct the Reuters Instrument Code of the Hang Seng Index in paragraph 4)Reporting by Kane Wu; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Persons: Androniki, Australia's, Redmond Wong, Christopher Waller, John Milroy, Ord, Brent, Kane Wu, Edmund Klamann Organizations: REUTERS, Saxo Markets, U.S, Reuters, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, China, Europe, Asia Pacific, 0143GMT, Germany, Britain, Greater China, U.S, Ord Minnett .

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