Asian Stocks Rise Tracking Positive U.S. GDP, Adani Extends Losses
Most Asian stock markets rose on Friday as appetite for risk-driven assets was supported by better-than-expected U.S. economic growth data, while Indian stocks extended their descent as heavyweight Adani remained under pressure from a short seller report. Overnight data showed that the world’s largest economy grew more than expected during the fourth quarter, dispelling some […]
BOJ keeps Record-Low Rates Unchanged, Maintains Yield Curve Control
The Bank of Japan (BOJ) kept its benchmark interest rates unchanged as expected on Wednesday, and also maintained its current rate of yield curve control, ducking market expectations for more hawkish signals. The Japanese yen plummeted after the move, dropping over 2% to 130.75 against the dollar, while yields on benchmark Japanese government bonds slumped […]
Asian Stocks Rally On China Stimulus, Japan Hit By BOJ Uncertainty
Most Asian stock markets surged on Monday, with Chinese indexes in the lead after the government rolled out more stimulus measures, while fears of more hawkish moves from the Bank of Japan saw local stocks tumble. China’s blue-chip Shanghai Shenzhen CSI 300 index was the best performer in Asia, rallying 2% to a near five-month […]
Dollar Weakens in Wake of CPI Release; Yen Climbs Ahead Of BOJ
The U.S. dollar edged lower in early European trade Friday, continuing the previous session’s selloff after cooling U.S. inflation opened the way for the Federal Reserve to ease the pace of its interest rate hikes. At 03:05 ET (08:05 GMT), the US Dollar Index, which tracks the greenback against a basket of six other currencies, […]
South Korea Dec Factory Activity Weakens on Demand Slump, Trucker Strike – PMI
South Korea’s factory activity shrank for a sixth consecutive month in December, a business survey showed on Monday, as the global economic downturn and a local truckers’ strike led to the worst slump in demand in 2-1/2 years. The S&P Global (NYSE:SPGI) purchasing managers’ index (PMI) for South Korea manufacturers fell to a seasonally-adjusted 48.2 […]
Asia FX Sinks as Caution Over Fed, CPI inflation, Boosts Dollar
Most Asian currencies fell on Monday, while the dollar rose as markets hunkered down ahead of highly awaited signals on U.S. monetary policy from a Federal Reserve meeting and a reading on U.S. consumer inflation. Most regional units were also nursing losses from last week, amid growing concerns over a potential recession in 2023, which […]
Asia FX Turns Cautious Ahead of U.S. Payrolls, Dollar Hits 3-Mth Low
Most Asian currencies moved little on Friday as caution kicked in ahead of U.S. payrolls data that is likely to affect monetary policy, although dovish signals from the Federal Reserve pushed the dollar to a three-month low. Regional currencies were also set for strong gains this week as the Federal Reserve flagged smaller interest rate […]
Oil rally Stalls on Weak Chinese Data, Uncertainty Over OPEC Cut
Oil prices were muted on Thursday, cutting short a three-day rally after data highlighted growing economic cracks in major crude importer China, while markets also speculated over whether the OPEC’s last meeting for the year will result in a supply cut. Chinese manufacturing activity- a bellwether for the economy- weakened substantially in November, official and […]
Gold Buoyant Before The Fed, Copper Rallies on China COVID Hopes
Gold prices held recent gains on Wednesday as the dollar steadied before the conclusion of a Federal Reserve meeting, while copper prices were lifted by speculation over China potentially relaxing its strict zero-COVID policy Spot gold steadied around $1,648.23 an ounce, while gold futures rose 0.1% to $1,650.80 an ounce. Both instruments jumped from a […]
Indices post biggest fall in 6 months as inflation
By Administrator_ India Capital Sands India’s benchmark indices on Thursday posted their biggest single-day drop in about six months as concerns over inflation, valuations, and policy normalization by the RBI triggered risk-off bets. The sentiment was further dented by Morgan Stanley’s downgrading of Indian equities, becoming the latest foreign brokerage to sound a note of […]