Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Capurso"


14 mentions found


Dollar stands firm while traders await CPI
  + stars: | 2023-01-11 | by ( Tom Westbrook | ) www.reuters.com   time to read: +3 min
The U.S. dollar was steady elsewhere, loitering just above a seven-month low on the euro at $1.0737 in the lead-up to U.S. inflation data due on Thursday. The dollar was steady at 132.23 Japanese yen and $1.2161 per British pound . U.S. government bond yields, which have been attracting investors to the dollar, fell overnight and upbeat sentiment in equities lifted stockmarkets. "Another downward surprise to the core CPI would cement the deceleration trend," Commonwealth Bank of Australia strategist Joe Capurso said. The Singapore dollar has scaled 19-month highs this week and the Thai baht nine-month tops in anticipation of tourism picking up as China's borders open.
[1/2] Banknotes of Chinese yuan and U.S. dollar are seen in this illustration picture taken September 29, 2022. Yet the euro was flat against the dollar at $1.048, after falling 0.2% in the previous session. In Asia, China's yuan firmed as the government announced measures that marked a sharp change to its tough, three-year-old zero-COVID policy that has battered its economy and sparked historic protests. "Anticipation of further easing of measures in China should continue to favour RMB (and) RMB-linked assets." "China's reopening will be bumpy in coming months and economic data will likely get worse before it gets better."
Against the dollar, sterling was last 0.03% lower at $1.2131, after falling 0.4% overnight. It's part of our baseline," said Joseph Capurso, head of international and sustainable economics at Commonwealth Bank of Australia. Against a basket of currencies, the U.S. dollar index edged 0.07% higher to 105.62. The onshore yuan was last more than 0.2% higher at 6.9771 per dollar. "Anticipation of further easing of measures in China should continue to favor RMB (and) RMB-linked assets."
Dollar edges up as darkening growth outlook hurts sentiment
  + stars: | 2022-12-07 | by ( Rae Wee | ) www.reuters.com   time to read: +3 min
SINGAPORE, Dec 7 (Reuters) - The dollar crept higher on Wednesday as top executives from the biggest U.S. banks warned of an impending recession, which dampened risk appetite and kept the greenback supported. Against the dollar, sterling fell 0.4% overnight, and was last 0.05% lower at $1.2128. It's part of our baseline," said Joseph Capurso, head of international and sustainable economics at Commonwealth Bank of Australia. Against a basket of currencies, the U.S. dollar index was last 0.05% higher at 105.60. The offshore yuan was last marginally higher at 6.9845 per dollar, having been supported by an easing of China's strictest COVID-19 restrictions.
Comments from market watchers on the COVID-19 protests in China
  + stars: | 2022-11-28 | by ( ) www.reuters.com   time to read: +4 min
ALVIN TAN, ASIA FX STRATEGIST, RBC CAPITAL MARKETS, SINGAPORE:"The scale of the protests will necessarily elicit a response from Beijing. KEN CHEUNG, CHIEF ASIA FX STRATEGIST, MIZUHO, HONG KONG:"The China economy is heading to the direction of reopening but the road to the reopening could be a bumpy one. "Overall, the China Q4 growth outlook should remain grim given the COVID resurgence and the related mobility tightening. GARY NG, ECONOMIST, NATIXIS, HONG KONG:"The market does not like uncertainties that are difficult to price and the China protests clearly fall into this category. MARTIN PETCH, VICE PRESIDENT, MOODY'S INVESTORS SERVICE:"We expect the protests ... to dissipate relatively quickly and without resulting in serious political violence.
Market watchers' comments on COVID-19 protests in China
  + stars: | 2022-11-28 | by ( ) www.reuters.com   time to read: +6 min
Here's what market watchers are saying about the unrest:ALLAN VON MEHREN, CHIEF ANALYST, DANSKE BANK, COPENHAGEN:"Normally protests in China are aimed at local governments but a crowd in Shanghai directed their protest against the Communist Party and Xi Jinping." "The protests come as the recent tweaks in the zero-Covid policy seem to have backfired as they led to rising cases across the country that subsequently triggered new restrictions being implemented. MARK HAEFELE, GLOBAL WEALTH MANAGEMENT CIO, UBS, ZURICH:"We do not expect economic or market headwinds in China to abate significantly over the coming months. KEN CHEUNG, CHIEF ASIA FX STRATEGIST, MIZUHO, HONG KONG:"The China economy is heading to the direction of reopening but the road to the reopening could be a bumpy one. GARY NG, ECONOMIST, NATIXIS, HONG KONG:"The market does not like uncertainties that are difficult to price and the China protests clearly fall into this category.
"What's going on in China is going to take centre stage," said Joseph Capurso, head of international and sustainable economics at Commonwealth Bank of Australia. MUFG analysts noted that more cautious remarks from Fed officials were also been a factor in the dollar losing some momentum on Tuesday. The major factor driving dollar moves in recent months has been market expectations of how aggressively the Federal Reserve will raise rates. The dollar fell 0.5% on the offshore yuan to 7.1412, having gained 0.7% overnight. The lending unit suspended redemptions last week, citing fallout from the collapse of FTX, which filed for bankruptcy on Nov 11.
Dollar pauses climb; China COVID fears mount
  + stars: | 2022-11-22 | by ( Rae Wee | ) www.reuters.com   time to read: +4 min
China's capital warned on Monday that it was facing its most severe test of the COVID-19 pandemic, with a surge in COVID cases sparking fresh restriction measures. The offshore yuan gained 0.3% to 7.1574 per dollar in Asia trade, after falling more than 0.7% overnight. "It could just be a consolidation phase after yesterday's pretty big move up," said Capurso of the U.S. dollar. The Japanese yen last traded 0.2% higher at 141.79 per dollar, after slumping more than 1% to the weaker side of 142 per dollar in the previous session. "It's more like a cork in the ocean, subject to risk aversion as well as movements in 10-year Treasury yields."
The yen held firm on the stronger side of 149 per dollar following two consecutive days of suspected Bank of Japan (BOJ) intervention straddling the weekend. Economists polled by Reuters expect the pace of rate increases to slow to 50 basis points in December, matching bets in money markets. At 149.00 yen, the dollar was down from the 32-year high of 151.94 on Friday that appeared to trigger successive bouts of BOJ intervention. Whatever the tactics, we still expect USD/JPY to recover within a few weeks after BOJ intervention ends." The ECB looks set to hike rates by 75 basis points on Thursday to try and rein in red-hot inflation.
SINGAPORE, Oct 20 (Reuters) - The dollar loomed over major peers on Thursday as Treasury yields peaked at multi-year highs, while the yen slid to a fresh 32-year low and kept markets on high alert for any signs of an intervention. The fragile yen hit a fresh trough of 149.98 per dollar, its lowest since August 1990, and last bought 149.975. "Given that Treasury yields have moved decisively above 4%, were it not for the threat of intervention then I think dollar/yen would already be trading north of 150." The benchmark U.S. 10-year Treasury yield rose to 4.154% on Thursday, its highest level since mid-2008, while the two-year Treasury yields touched a 15-year high of 4.582%. "Because central banks misjudged how high inflation would go, they're really still catching up by increasing interest rates significantly, and that's going to cause big problems for the world economy, particularly next year," said CBA's Capurso.
U.S. long-term Treasury yields languished near the lows of the past two days, sitting little changed at 3.9227% in Tokyo trading. Treasury yields turned lower after the minutes, reversing an earlier rise, with investors focusing on the dovish undertones in taking yields back from near two-decade highs. The dollar index, which gauges the greenback against six major rivals, stuck near the middle of its range this week, trading little changed at 113.27. But the dollar was little changed versus sterling , which had rebounded strongly from a two-week trough of $1.0925 on Tuesday. Benchmark 10-year gilt yields had swung from a fresh 14-year peak at 4.632% to close at 4.429% on Wednesday, little changed from the previous session.
The dollar strengthened 0.22% to 146.18 yen in Asian trading, after pushing as high as 146.39 for the first time since August 1998. The Japanese currency is particularly sensitive to the gap between U.S. and Japanese long-term bond yields. Japanese authorities staged their first yen-buying intervention since 1998 on Sept. 22, when the yen tumbled to as low as 145.90 per dollar. Elsewhere, sterling which earlier touched $1.0925, marking a fresh low since Sept. 29, bounced 0.4% to $1.1008 after the FT report. The euro slumped to its weakest since Sept. 29 overnight at $0.9670 and remained not far from that level, trading 0.08% lower than Tuesday's close at $0.96975.
The Japanese currency is particularly sensitive to the gap between U.S. and Japanese long-term bond yields. Japanese officials staged their first yen-buying intervention since 1998 on Sept. 22, when the yen tumbled to as low as 145.90 per dollar. Sterling slipped 0.13% to $1.0947, and earlier touched $1.09385, marking a fresh low since Sept. 29, following the comments by the BoE governor. Gilt yields soared on Tuesday, lifting yields in the U.S. and elsewhere. The New Zealand dollar was 0.21% lower at $0.5570, approaching the previous day's low of $0.5536, a level not visited since March 2020.
Register now for FREE unlimited access to Reuters.com RegisterWoman holds British pound banknotes in this illustration taken May 30, 2022. The British pound's searing drop helped the safe-haven U.S. dollar to a new two-decade peak against a basket of major peers. Fellow commodity currency the Canadian dollar reached a fresh trough at C$1.3625 per greenback, its weakest since July 2020. China's offshore yuan slid to a new low of 7.1630 per dollar, its weakest since May 2020. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kevin Buckland Editing by Shri Navaratnam and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.
Total: 14