Asia FX Treads Water As Fed Meeting Looms, Dollar Inches Higher

Most Asian currencies moved little on Wednesday in anticipation of a Federal Reserve meeting, while the dollar crept higher as markets positioned for an interest rate hike and a potentially hawkish message from the central bank. The dollar firmed slightly against a basket of currencies, with the dollar index and dollar index futures advancing about 0.1% each. The Federal Reserve is broadly expected to hike interest rates by 25 basis points, after U.S. inflation retreated…

"Asia FX Treads Water As Fed Meeting Looms, Dollar Inches Higher"

Asia FX Muted, Dollar Steadies As Fed Meeting Looms

Most Asian currencies moved little on Tuesday, while the dollar retained recent gains as caution kicked in ahead of a Federal Reserve meeting this week, with any signals on U.S. monetary policy squarely in focus. But most Asian units were set for strong gains in January amid expectations that the Fed will slow its pace of interest rate hikes in the coming months. Risk-heavy Southeast Asian currencies were the best performers through January, with the…

"Asia FX Muted, Dollar Steadies As Fed Meeting Looms"

Asian Stocks Sink As Fed Week Begins, China Reopens Strong

Most Asian stock markets sank on Monday as caution kicked in ahead of a Federal Reserve meeting and key economic data this week, while Chinese shares rose sharply as they resumed trade after a week-long holiday. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes rose 1.2% and 0.7%, respectively, with markets betting that the country’s economy was further supported by its first Lunar New Year holiday without COVID restrictions in three years. State media…

"Asian Stocks Sink As Fed Week Begins, China Reopens Strong"

Asia FX Drifts Lower On Hawkish Fedspeak, Weekly Losses On Tap

Most Asian currencies fell on Friday, and were set to close the week lower following hawkish comments from several Federal Reserve officials, as well as growing concerns over a potential recession this year. China-exposed currencies were the worst performers this week, even as data released earlier showed that the country’s economy was beginning to pick up after the lifting of most anti-COVID restrictions. Traders are also positioning for a strong boost to the economy from…

"Asia FX Drifts Lower On Hawkish Fedspeak, Weekly Losses On Tap"

Asia FX Weakens On recession Wo Yen Supported By Yield Cap Bets

Most Asian currencies retreated on Thursday as weak U.S. economic data pushed up fears of a potential recession, while the Japanese yen recouped most of its recent losses on speculation that the Bank of Japan may yet increase its yield control range. The yen was the best-performing Asian currency for the day, rising 0.5% to 128.29 against the dollar. The currency had plummeted as much as 2.5% on Wednesday after the BOJ unexpectedly maintained its…

"Asia FX Weakens On recession Wo Yen Supported By Yield Cap Bets"

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 over 3% to below the 0.5% level. The central bank maintained its short-term policy interest rate at negative 0.1%, and…

"BOJ keeps Record-Low Rates Unchanged, Maintains Yield Curve Control"

China Q4 GDP Slows on COVID Woes, But Beats Expectations

The Chinese economy grew at a slower pace in the fourth quarter of 2022, data showed on Tuesday, as disruptions caused by the country’s now relaxed zero-COVID policy weighed heavily on business activity, although the reading still beat expectations. Chinese gross domestic product (GPD) grew at an annualized rate of 2.9% in the three months to December 31, data from the National Bureau of Statistics showed. The reading was higher than expectations for growth of…

"China Q4 GDP Slows on COVID Woes, But Beats Expectations"

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 high after the People’s Bank of China injected more liquidity into the banking system. The move comes ahead of an…

"Asian Stocks Rally On China Stimulus, Japan Hit By BOJ Uncertainty"

European Stock Futures Higher; U.K. GDP Grows in November

European stock markets are expected to open slightly higher Friday, with investors focusing on a deluge of important economic data, including U.K. growth data for November, as well as earnings from the U.S. banking sector. At 02:00 ET (07:00 GMT), the DAX futures contract in Germany traded 0.1% higher, CAC 40 futures in France climbed 0.2%, while the FTSE 100 futures contract in the U.K. rose 0.1%. European equities closed higher Thursday, continuing the positive…

"European Stock Futures Higher; U.K. GDP Grows in November"

Asia FX Heads For Weekly Bounce, Dollar at 7-Mth Low on Easing Inflation

Most Asian currencies crept higher on Friday and were headed for steep weekly gains on the prospect of an eventual shift in the Federal Reserve’s hawkish stance, which also pushed the dollar to a seven-month low. The Japanese yen rose 0.1% to an over seven-month high against the dollar of 129.14, and was among the best performing currencies this week as rising inflation in the country drove up bets that the Bank of Japan will…

"Asia FX Heads For Weekly Bounce, Dollar at 7-Mth Low on Easing Inflation"