EUR/USD 1.17690
-0.370%
Gold 3643.27
-0.454%
Oil 63.742
0.214%
USD/JPY 147.987
0.684%
GBP/USD 1.35549
-0.504%
GBP/JPY 200.598
0.188%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The U.S. Conference Board Leading Index monthly rate in August was -0.5%, in line with expectations of -0.1%. The previous value was revised from -0.10% to 0.1%.On September 18, BlackRocks Vivek Paul said in a report that investors may pay more attention to the UKs long-term government bond yields before the UKs autumn budget is announced on November 26. Concerns about the expansion of government borrowing are putting upward pressure on sovereign bond yields in most developed markets. The Bank of England has announced that it will reduce the scale of quantitative tightening to 70 billion pounds in the next year starting in October, which is lower than the level of 100 billion pounds in the past 12 months, which means that the pace of quantitative tightening will slow down. The Bank of England also pointed out that the proportion of long-term government bonds in future government bond sales will be lower than that of medium- and short-term government bonds. Paul said: "Policymakers hope that these measures will help ease the upward pressure on long-term government bond yields that is unique to the UK."Governor of the Republic of Bashkortostan, Russia: The Salavat refinery continues to operate normally.On September 18th, the Federal Reserve announced its first interest rate cut in 2025 and hinted at further rate cuts in the future. Risk appetite permeated Wall Street, and U.S. stocks rose sharply. Thursdays rise in U.S. stocks marked a reversal of traders initial reaction to the Feds decision in the previous trading day, when Wall Street took profits on over-performing technology stocks. Robert Schein, chief investment officer of wealth management firm Blanke Schein, said: "The Fed is cutting interest rates at a time when the stock market is at a record high and the economy is still growing. This is a very unique context, as Fed rate cuts are usually related to economic problems. This dynamic is beneficial to the stock market."The U.S. Conference Board Leading Index monthly rate for August will be released in ten minutes.

Asia Stocks Join Wall Street's Rebound, As The Yen Continues to Rise

Skylar Williams

Dec 22, 2022 11:42

13.png


Asian markets rose on Thursday after a positive reading on U.S. consumers delighted Wall Street investors, while the yen added to its big recent gains as Japanese government yields moved into a new higher zone.


Unexpectedly, consumer confidence in the United States reached an eight-month high in December as the labor market remained robust. The anticipated rate of inflation dropped to 6.7%, the lowest level since September 2021, as a result of falling gas prices.


This contributed to a rise on Wall Street, with S&P 500 futures and Nasdaq futures each up 0.3% on Thursday.


Futures on the EURO STOXX 50 and FTSE climbed 0.1% and 0.3%, respectively, despite the typical winter slump in volume.


MSCI's broadest index of Asia-Pacific equities excluding Japan increased by 1.1%, while Chinese blue chips increased by 0.75 percent.


The Nikkei gained 0.2% as the Japanese government upgraded its growth prediction for the next fiscal year in anticipation of higher company spending and hefty wage increases.


Investors continue to ponder the repercussions of the Bank of Japan's (BOJ) shocking decision to allow JGB rates to climb this week, prompting many to believe that a policy tightening is imminent.


Yields on 10-year government bonds have risen 23 basis points this week to 0.480%, the highest level since July 2015 and just a hair's breadth away from the BOJ's new ceiling of 0.5%.


The increase in rates and the strengthening of the yen will reduce the value of Japanese investors' holdings, according to analysts at Capital Economics.


"Insurance companies would suffer the most from dropping bond prices, while pension funds will suffer the most from a rising currency rate. We doubt, however, that decreased investment returns pose systemic dangers."


Next year, capital also anticipates the dollar to decline toward 125 yen. At 131.93 yen, the dollar was already in the red for the week, having lost 3.5% so far; but, it had found some support around 130.40 yen. 


At 140.11, the euro had likewise lost 3.6% against the yen for the week. At $1.0622, the euro was slightly stronger against the dollar due to the yen's activity.


After British public borrowing reached a record in November and nationwide strikes dimmed the UK's economic outlook, the value of the pound declined. Overnight, the pound fell to a three-week low and was pegged at $1.2082.


The dollar's decline has been beneficial to gold, which is up 1.4% so far this week to $1,818 per ounce. 


Oil prices increased as data revealed a larger-than-anticipated decline in U.S. crude inventories, but a big snowstorm is expected to blanket a large portion of the country and reduce travel-related fuel consumption. 


Brent crude increased 34 cents to $82.54 per barrel, while U.S. crude petroleum advanced 44 cents to $78.73 per barrel.

Suggestion