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☆ Indian rupee poised to weaken after central bank pulls 2,000-rupee notes
▼ + stars: | 2023-05-22 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, May 22 (Reuters) - The Indian rupee is expected to open weaker against the U.S. dollar after the central bank said it will withdraw the highest value currency note from circulation. Non-deliverable forwards indicate rupee will open at around 82.80-82.84 to the dollar, compared to 82.66 in the previous session. On Friday, the Reserve Bank of India said it will withdraw its highest denomination 2,000-rupee note from circulation. "Rupee would come under pressure" alongside the fall in the cost of carry (the forward premiums), Goenka said. "Conducting sell/buy swaps (on USD/INR) would address cash dollar shortage and suck out rupee liquidity and could offer respite."

☆ Markets on edge as US debt ceiling talks approach crunch time
▼ + stars: | 2023-05-22 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

A failure to lift the debt ceiling would trigger a default, sparking chaos in financial markets and a spike in interest rates. In early trade on Monday, S&P 500 futures lost 0.1% while Nasdaq futures were flat. On Friday, reports that debt ceiling negotiations had reached an impasse rattled markets even as Federal Reserve Chairman Jerome Powell said U.S. interest rates might not need to rise as much given the tighter credit conditions from the banking crisis. In Asia, China is expected to keep its key lending rates unchanged on Monday even as the ongoing economic recovery disappointed. U.S. crude futures were up 0.1% to $71.6 per barrel, while Brent crude futures rose 0.2% to $75.75 per barrel.

☆ Asian shares inch up as investors brace for China data, Fed speakers
▼ + stars: | 2023-05-15 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

The guarded optimism is set to extend to Europe when markets open, with pan-region Euro Stoxx 50 futures up 0.2%. Both S&P 500 futures and Nasdaq futures were mostly flat. China is due to report monthly industrial production, retail sales and fixed asset investment data on Tuesday. "However, with China's data throwing up a few concerns of late - we've seen poor import, PPI, and loan data - China's growth is very much at the heart of market moves," said Weston. U.S. crude futures fell 0.6% to $69.61 per barrel, while Brent crude futures were down 0.6% to $73.68 per barrel.

☆ Asian shares on edge for China data, Fed speakers
▼ + stars: | 2023-05-15 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

On Monday, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) wobbled between losses and gains and was last up 0.1%. China is due to report monthly industrial production, retail sales and fixed asset investment data on Tuesday. Very much on investors' mind was the uncertainty about lifting the U.S. debt ceiling and the return of bank worries. The yield on benchmark 10-year notes was little changed at 3.4588%, after rising 6 basis points on Friday, and two-year yields eased 2 basis points to 3.9830%, having also jumped 10 basis points in the previous session. U.S. crude futures eased 0.5% to $69.71 per barrel, while Brent crude futures were down 0.6% to $73.74 per barrel.

☆ Asian shares braced for China data, Fed speakers
▼ + stars: | 2023-05-15 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Investors are keenly awaiting China's central bank rate decision on Monday. Market watchers polled by Reuters expect the medium-term policy rate to be left unchanged despite disappointing data last week that fuelled concerns about a global slowdown. The country is due to report monthly industrial production, retail sales and fixed asset investment data on Tuesday. Very much on investors' mind was the uncertainty about lifting the U.S. debt ceiling and the return of bank worries. Oil prices were trying to find a footing after tumbling nearly 2% last week on demand concerns.

☆ Stocks slide into Fed mode, shorts stalk banks
▼ + stars: | 2023-05-03 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Overnight, tumbling regional bank stocks (.KRX) dragged the S&P 500 (.SPX) down 1.2% and oil dived more than 5% on fears that shaky bank confidence and signs of weakness in the U.S. job market were harbingers of a looming broader slowdown. Bonds rallied as investors reckoned the Federal Reserve, which sets policy later on Wednesday, will soon be switching from rate hikes to cuts. Among banks, PacWest Bancorp (PACW.O), down 27.8%, Western Alliance Bancorp (WAL.N), down 15.1%, and Comerica Inc (CMA.N) down 12.4%, were the biggest losers. If that happens, focus will be on whether or how hard Fed Chair Jerome Powell pushes back on investors' expectations for rate cuts by year's end. The Australian dollar has given back some of the ground gained on Tuesday, following a surprise rate hike from the central bank, and sat at $0.6670.

Earlier in the day, Japan's Topix bank index (.IBNKS.T) lost 4%, while Singapore's largest banks also lost ground, down over 1%. The U.S. government stepped in on Sunday with a series of emergency measures to shore up confidence in the banking system following the failure of Silicon Valley Bank (SVB) (SIVB.O), which marked the biggest U.S. bank failure since the 2008 financial crisis. Smaller banks remained under pressure with U.S. private bank First Republic Bank (FRC.N) plunging around 50% in pre market, and PacWest (PACW.O) down around 26%. U.S. banks lost over $100 billion in stock market value late last week following the collapse, while European banks lost around another $50 billion in value, according to a Reuters calculation. U.S. state regulators on Sunday also closed New York-based Signature Bank (SBNY.O), which became the next casualty of the banking turmoil after SVB.

☆ Asian bank stocks tumble as US systemic concerns prevail
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +3 min

In Hong Kong, shares of HSBC Holdings opened roughly 1.7% lower at a two-month trough while Standard Chartered Bank shares fell nearly 1% to a one-month low. U.S. banks lost over $100 billion in stock market value late last week following the collapse, while European banks lost around another $50 billion in value, according to a Reuters calculation. U.S. state regulators on Sunday also closed New York-based Signature Bank (SBNY.O), which became the next casualty of the banking turmoil after SVB. Elsewhere in Asia, Japan's Topix (.TOPX) was last 2% lower, dragged heavily by financial stocks. Shares of Singapore's largest bank DBS (DBSM.SI) slid to their lowest since late October last year, at S$32.71 ($24.32), while OCBC's shares (OCBC.SI) lost close to 1.5%.

☆ Dollar loses steam after jobless claims data, while Kuroda takes center stage in Asia
▼ + stars: | 2023-03-10 | by ( ) www.cnbc.com time to read: +3 min

An employee deals with U.S. one-hundred dollar banknotes at a bank on June 16, 2022 in Hai an, Nantong City, Jiangsu Province of China. The yen held steady in early Asia trade, and was last 0.2% higher at 135.89 per dollar, retreating from a nearly three-month low hit earlier in the week. Nonetheless, the jump in jobless claims was enough to cause traders to unwind some bets that U.S. rates would rise much higher than previously expected. The Fed funds rate is projected to peak just below 5.5% by July. Against a basket of currencies, the U.S. dollar index fell 0.12% to 105.12 but remained on track for a weekly gain of nearly 0.6%.

☆ INDIA RUPEE Rupee resumes uptrend on likely dollar inflows, Fed risks linger
▼ + stars: | 2023-03-09 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, March 9 (Reuters) - The Indian rupee rose against the U.S. currency on Thursday, supported by dollar inflows and the underlying positive momentum, traders said. The rupee was at 81.8575 to the U.S. dollar by 10:22 a.m. IST compared with 82.0550 in the previous session. The rupee has not been impacted by the change in the repricing of what the Federal Reserve is likely to do at this month's meeting. The local currency is marginally higher than what it was before Fed Chair Jerome Powell's hawkish comments. Dollar inflows are helping negotiate the renewed Fed concerns, they added.

☆ Asian stocks tumble, dollar gains after hawkish Powell comments
▼ + stars: | 2023-03-08 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The hawkish comments from Powell sent U.S. stocks sharply lower, with the risk-off mood continuing in Asian trade. Eurostoxx 50 futures were down 0.19%, German DAX futures fell 0.27% and FTSE futures were down 0.27%. After a series of jumbo hikes last year, the Fed raised rates by 25 basis points in its last two meetings. "Powell has essentially opened the door to 50 basis point hike," said Chris Weston, head of research at Pepperstone. Citi strategists said even as-expected payrolls and inflation data could keep the chance of a 50 basis point hike high.

☆ Asian stocks tumble after hawkish Powell comments
▼ + stars: | 2023-03-08 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, March 8 (Reuters) - Asian shares fell sharply on Wednesday, while the dollar advanced after hawkish comments from Federal Reserve Chair Jerome Powell raised the possibility of the U.S. central bank returning to large rate hikes to tackle sticky inflation. The Fed will likely need to raise interest rates more than expected in response to recent strong data, Powell said on the first day of his semi-annual, two-day monetary policy testimony before Congress. The hawkish comments from Powell sent U.S. stocks sharply lower, with the risk-off mood continuing in Asian trade. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 1.45% lower, while Australia's S&P/ASX 200 index (.AXJO) fell 0.70%. "Powell has essentially opened the door to 50 basis point hike," said Chris Weston, head of research at Pepperstone.

☆ Dollar pulls back as Powell sticks to usual Fed playbook
▼ + stars: | 2023-02-08 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The U.S. dollar struggled to recover its losses in Asia trade on Wednesday, after slipping in the previous session as Powell spoke. Similarly, the euro was last 0.04% higher at $1.0732, after falling to $1.06695 in the previous session, its lowest since Jan. 9. Against a basket of currencies, the U.S. dollar index steadied at 103.31, after slipping 0.3% in the previous session. Futures pricing shows that markets are expecting the Fed funds rate to peak just above 5.1% by June. Elsewhere, the Japanese yen rose 0.16% to 130.88 per dollar, after surging 1.2% in the previous session.

☆ Asian stocks pull back, dollar regains footing ahead of U.S. payrolls data
▼ + stars: | 2023-02-03 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

Tech shares took a beating in Thursday's after-hours trading, with shares of Apple, Amazon and Google parent Alphabet all tumbling. That took the shine off a strong regular trading session on Thursday, when the S&P (.SPX) climbed 1.5% and the Nasdaq (.IXIC) surged 3.3%. In the currency markets, the euro extended losses to $1.0891, pulling further away from the ten-month top of $1.1033 touched on Thursday. The sterling fell to $1.2206 on Friday, the lowest in more than two weeks, after tumbling 1.2% the previous session. That helped the U.S. dollar to recoup most of its post-Fed losses, with the dollar index now standing at 101.81, away from its nine-month low of 100.80.

LONDON/SINGAPORE, Jan 31 (Reuters) - The dollar ticked higher on Tuesday ahead of a raft of central bank decisions but remained on track for its fourth consecutive monthly loss. The Federal Reserve will set interest rates on Wednesday, followed by the European Central Bank (ECB) and Bank of England (BoE) on Thursday. That meant it was set for its fourth monthly drop, having fallen around 11% since hitting a 20-year peak in late September. Investors then expect the ECB and BoE to raise their main interest rates by 50 bps each on Thursday. Sterling was last 0.29% lower at $1.231, but was on track for its fourth monthly increase.

☆ Dollar set for fourth monthly drop as Fed meeting looms
▼ + stars: | 2023-01-31 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, Jan 31 (Reuters) - The dollar was eyeing a fourth monthly loss on Tuesday as investors reckon a peak in U.S. interest rates could swing into view as soon as this week's Federal Reserve meeting. The U.S. dollar index is down 1.3% for January so far, though it rose 0.3% to 102.19 overnight. The Japanese yen fell 0.4% overnight but is set for its third monthly gain as markets anticipate shifts in monetary policy. Sterling and the Australian, New Zealand and Canadian dollars also made overnight losses but are set for monthly gains. Interest-rate futures indicate market expectations for a 25 basis point (bp) hike from the Federal Reserve to take the Fed funds rate window to 4.5%-4.75%.

☆ Morning Bid: Hawk-eyed
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +2 min

European Central Bank President Christine Lagarde's forceful hawkish rhetoric has played Grinch, with little sign yet of a Santa rally as we head towards Christmas and the New Year. And so, investors will parse every inch of economic data coming through in the near term to gauge inflationary pressures and recessionary signals, with flash PMI data from the Eurozone and the UK on deck for the day. Of course, the worry remains on what the audit is likely to reveal, and that has put a lid on gains for these stocks. "Some time away from Twitter is good for the soul," Musk tweeted. loadingKey developments that could influence markets on Friday:Economic events: Nov UK retail sales, Flash PMI data for UK, Eurozone, Sweden's unemployment rate for NovemberReporting by Ankur Banerjee; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks drop as central banks meet after 'higher for longer' Fed view
▼ + stars: | 2022-12-15 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

In Europe, the Swiss National Bank delivered an expected half-point hike that brought rates to a 14-year high of 1%. ,Hot on the heels of the Swiss, the Norges Bank raised rates by a quarter-point to 2.75% and indicated it has not finished tightening monetary policy. And next up is the Bank of England, which is expected to raise rates by half a point to 3.5% at 1200 GMT. Just over an hour later, the European Central Bank will also announce its rate decision. This inversion reflects concern among investors that higher interest rates could tilt the economy into recession.

☆ Asian shares slump, dollar firms ahead of central bank rate hikes
▼ + stars: | 2022-12-12 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Both the S&P 500 futures and Nasdaq futures dipped 0.1%. On Friday, Wall Street dropped, Treasury yields advanced and the dollar pared earlier losses. A U.S. consumer price index (CPI) report on Tuesday will set the tone for markets for the week. Economists expect core annual inflation to ease to 6.1% in November, compared with a rise of 6.3% seen in the previous month. Risk could be on the upside, after data on Friday showed producer prices had increased faster than expected, fuelling concerns the CPI report may indicate inflation is sticky and interest rates may have to stay higher for longer.

☆ Asian shares fall, dollar firms ahead of central bank rate hikes
▼ + stars: | 2022-12-12 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

On Friday, Wall Street dropped, Treasury yields advanced and the dollar pared earlier losses. A U.S. consumer price index (CPI) report on Tuesday will set the tone for markets for the week. In addition to the Fed, the European Central Bank and the Bank of England are also set to announce interest rate hikes, as policymakers continue to put the brakes on growth to curb inflation. In the oil market, prices rose after falling on Friday to the lowest level this year on global recession fears. U.S. West Texas Intermediate (WTI) crude futures increased 0.9% to $71.71 per barrel, while Brent crude settled at $76.64 a barrel, 0.7% higher.

☆ Asian shares dip, dollar firms ahead of central bank rate hikes
▼ + stars: | 2022-12-12 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

The U.S. consumer inflation report on Tuesday will set the tone for markets for the week. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) eased 0.1% on Monday, after rising 1.3% last week. In addition to the Fed, the European Central Bank and the Bank of England are also set to announce interest rate hikes, as policymakers continue to put the brakes on growth to curb inflation. Treasury yields held largely steady on Monday after rallying from the lowest levels in three months during the previous session. (This story has been corrected to fix the weekly change for MSCI's Asia index in paragraph 5)Editing by Lincoln Feast.

☆ Dollar soft as China reopening hopes boost risk sentiment
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, Dec 5 (Reuters) - The dollar struggled to gain a foothold on Monday and was languishing at five-month lows as traders looked past stronger than anticipated U.S. jobs data, while growing hopes of China reopening boosted risk sentiment. The dollar index , which measures the currency against six major peers including the yen and euro, was down 0.18% at 104.28, its lowest since June 28. "With limited data to drive this week and no Fed speakers, the market may start to think for itself and look at massaging exposures ahead of next week," Weston added. Also, weighing on the dollar was growing hopes of China slowly reopening, with more Chinese cities announcing an easing of coronavirus curbs on Sunday. The Japanese yen weakened 0.11% versus the greenback at 134.46 per dollar, having gained 3.5% on the greenback last week.

[1/2] Banknotes of Chinese yuan and U.S. dollar are seen in this illustration picture taken September 29, 2022. REUTERS/Florence Lo/Illustration/File PhotoLONDON/SINGAPORE, Nov 28 (Reuters) - The dollar fell sharply against Japan's yen on Monday as investors focused on rare protests in China, which pushed the yuan to a two-week low. China's onshore yuan finished the domestic session around 0.5% lower at 7.199 per dollar, the lowest close since Nov. 10. The offshore yuan fell to a more than two-week low in Asian trading and was last down 0.28% at 7.214. The Australian dollar , often used as a proxy for the yuan, slid 0.67% to $0.671.

[1/2] Banknotes of Chinese yuan and U.S. dollar are seen in this illustration picture taken September 29, 2022. China's onshore yuan finished the domestic session around 0.5% lower at 7.199 per dollar, the lowest close since Nov. 10. The offshore yuan fell to a more than two-week low in Asian trading and was last down 0.1% at 7.201. The Australian dollar , often used as a proxy for the yuan, slid 0.7% to $0.671. China's stringent COVID restrictions have taken a heavy toll on its economy, and authorities have implemented various measures to revive growth.

☆ Dollar rises, yuan slumps as China's COVID unrest spooks markets
▼ + stars: | 2022-11-28 | by ( Rae Wee | Ashitha Shivaprasad | ) www.reuters.com time to read: +3 min

[1/2] Banknotes of Chinese yuan and U.S. dollar are seen in this illustration picture taken September 29, 2022. The offshore yuan fell to an over two-week low in Asian trading, and was last roughly 0.4% lower at 7.2242 per dollar. The Australian dollar , often used as a liquid proxy for the yuan, slid more than 1% to $0.6681. China's stringent COVID restrictions have taken a heavy toll on its economy, and authorities have implemented various measures to revive growth. Against a basket of currencies, the U.S. dollar index rose 0.07% to 106.41, edging away from its recent three-month low of 105.30.

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