Forex News

Kebanyakan mata wang Asia berundur pada hari Rabu, manakala dolar stabil daripada kerugian baru-baru ini apabila pasaran kekal terumbang-ambing sebelum data inflasi AS utama yang dijangka menjadi faktor dalam laluan kadar faedah. Mata wang serantau mengalami kerugian yang teruk sepanjang minggu pertama 2024, kerana pasaran mempersoalkan sama ada Rizab Persekutuan akan mula mengurangkan kadar faedah pada awal 2024. Tanggapan ini meningkatkan dolar, membantu dolar pulih secara mendadak daripada paras terendah lima bulan. Walaupun mata wang itu menyaksikan pengambilan untung pada hari Selasa, ia kekal jauh di atas paras terendah Disember. Yen Jepun dipukul oleh pertaruhan BOJ yang dovish Yen Jepun merupakan prestasi terburuk dalam...

Kebanyakan mata wang Asia bergerak dalam julat rata-ke-rendah pada hari Jumaat, manakala dolar berlegar menghampiri paras tertinggi tiga minggu ketika pasaran menunggu data buruh utama AS untuk mendapatkan lebih banyak petunjuk mengenai rancangan Rizab Persekutuan untuk pemotongan kadar faedah. Mata wang serantau telah ditetapkan untuk kerugian besar pada minggu pertama 2024, apabila dolar melantun semula secara mendadak di tengah-tengah ketidakpastian yang semakin meningkat mengenai tepatnya apabila Fed merancang untuk mula mengurangkan kadar faedah. Peniaga dilihat mengurangkan jangkaan bahawa Fed boleh mula mengurangkan kadar seawal Mac 2024, manakala skop penuh potensi pemotongan juga masih tidak jelas. Asia FX mendahului...

Most Asian currencies rose sharply on Thursday, while the dollar came close to a four-month low after the Federal Reserve signaled it was done raising interest rates and will begin trimming borrowing costs in 2024. The central bank kept interest rates on hold as widely expected, and said it could potentially cut rates by a bigger-than-expected margin in 2024. Fed Chair Jerome Powell also flagged an acceptable amount of progress against inflation. His comments triggered steep losses in the dollar, with the dollar index and dollar index futures falling 0.3% each in Asian trade. Both instruments were close to their weakest levels since August, at around mid-to-low 102. Powell’s comments also triggered speculation over when the Fed will...

Most Asian stocks rose sharply on Thursday as the Federal Reserve said it was done raising interest rates and will consider cuts in 2024, although persistent concerns over an economic slowdown in China kept gains in check. Australia’s ASX 200 was among the top performers for the day, up 1.6% on strength in banks and commodity stocks. The ASX was also boosted by data showing continued resilience in Australia’s labor force, although the unemployment rate also rose slightly in November. South Korea’s KOSPI surged 1.1%, as technology stocks rose tracking an overnight slump in U.S. Treasury yields. This trade helped Hong Kong’s Hang Seng index add 0.9% despite weakness in mainland stocks. Broader Asian markets also rose after the Fed...

Most Asian currencies retreated on Wednesday, while the dollar steadied as sticky U.S. inflation data cast some doubts over what the Federal Reserve will signal at the conclusion of a meeting later in the day. Regional currencies were nursing some losses in recent sessions, as the dollar rebounded on signs of resilience in the U.S. labor market. Data for November also showed a mild uptick in inflation, indicating that the U.S. economy may not be cooling as rapidly as the Fed was anticipating. This notion weighed on most Asian currencies, as did persistent concerns over an economic slowdown in China. The Chinese yuan lost 0.1%, extending losses after a dismal reading on inflation over the weekend. China slid further into disinflation...

Most Asian currencies kept to a tight range on Tuesday, while the dollar steadied after recent gains as traders hunkered down before key U.S. inflation data and a Federal Reserve meeting due in the coming weeks. The dollar index and dollar index futures fell slightly in Asian trade. But the greenback held above 104 against a basket of currencies, as uncertainty over the Fed’s plans to cut interest rates in 2024 drove some flows into the dollar. Consumer price index data is due later in the day, and is expected to show that inflation eased slightly in November. But traders remained wary of a stickier reading, especially after nonfarm payrolls data released last week beat expectations. While the Fed is widely expected to hold rates...

The Central Bank of Nigeria (CBN) has stepped forward to address the concerns over the reported shortages of naira notes in the country, ascribing the situation to heightened withdrawals by Deposit Money Banks (DMBs) and customer panic. The bank's Corporate Communications Department and CBN Governor Olayemi Michael Cardoso emphasized that there is no shortage in actual currency supply and assured that measures are in place to ensure sufficient cash flow for necessary economic activities. The bank's announcement comes as a response to the increased rate of significant cash withdrawals by financial institutions. The CBN is actively managing the circulation of cash and has called on the public to refrain from panic withdrawals. It also...

Indonesia and South Korea have finalized operational guidelines for a new local currency transactions (LCT) framework slated to begin in 2024, marking a significant step towards stronger financial integration between the two nations. The initiative will enable direct trade transactions between the Indonesian Rupiah (IDR) and the South Korean Won (KRW), streamlining cross-border payments and reducing foreign exchange risks associated with trade. The LCT framework is a result of a memorandum of understanding signed in May by Bank Indonesia (BI) and the Bank of Korea (BOK). This agreement is set to foster economic stability within Asia's financial landscape by minimizing dependency on major currencies like the US dollar for bilateral...

Most Asian currencies fell on Monday, with the Chinese yuan among the worst performers after data pointed to a sustained deflationary trend in the country, while the dollar steadied in anticipation of a Federal Reserve meeting. The greenback saw some strength on Friday after a stronger-than-expected nonfarm payrolls reading, which dented expectations for an early interest rate cut by the Fed. The central bank is widely expected to keep rates on hold this week, although its signals for 2024 will be in close focus. The Chinese yuan lost 0.3% as data released over the weekend showed the country remained in disinflation for a second consecutive month, with consumer price index inflation falling at its fastest pace in three years. The...

TOKYO - The USD/JPY currency pair showcased resilience in Asian session on Wednesday, stabilizing above its three-month lows in the mid-147 range. This steadiness comes as US Treasury yields experience slight increases and the Bank of Japan's (BoJ) Deputy Governor Ryozo Himino maintains a dovish stance, emphasizing the continuation of easy monetary policies until Japan's price stability targets are achieved. The dollar's position was bolstered by a modest uptick in US Treasury yields, which often influence the currency's value. Despite this, the greenback displayed signs of weakness due to growing investor expectations of a potential Federal Reserve rate cut in early 2024. These expectations are fueled by a mix of economic reports that...

Most Asian currencies rose slightly on Wednesday as weak U.S. labor data spurred continued bets on early interest rate cuts by the Federal Reserve, helping investors look past persistent concerns over China’s economy. JOLTs data showed U.S. job openings declined in October, pushing up hopes for a prolonged cooling in the labor market which could limit the space the Fed has to keep rates higher for longer. The reading pulled down Treasury yields, and comes just a few days before closely-watched nonfarm payrolls data. Optimism over a less hawkish Fed helped most Asian currencies clock some gains on Wednesday. The Taiwan dollar and South Korean won rose 0.1% each, while the Japanese yen steadied after marking a sharp recovery against the...

Most Asian currencies steadied after strong gains on Monday, while the dollar nursed recent losses amid growing conviction that the Federal Reserve was done raising interest rates, and will begin cutting them in early-2024. The Japanese yen was one of the biggest beneficiaries of this notion, with the currency having recovered sharply from one-year lows in recent weeks on the prospect of easing pressure from higher U.S. interest rates. The yen steadied around 146.76 to the dollar, and was close to its strongest level since mid-September. Focus was also on an inflation reading from Japan's capital, due on Tuesday, for more potential cues on the Bank of Japan’s plans for monetary policy. The Chinese yuan was flat on Monday after...

• Asian currencies largely steadied on Friday, following a stellar rally through November. • Data from major economies provided mixed cues to markets. • The dollar rebounded from 3-½ month lows, after uncertainty over Federal Reserve's interest rate policy helped dollar index futures fall slightly in Asian trade. • Market awaiting Powell's speech at two separate events; Fed Chairman likely to maintain rhetoric that rates will remain higher for longer. Most Asian currencies kept to a tight range on Friday, while the dollar rebounded from 3-½ month lows in anticipation of more cues on interest rates from Federal Reserve Chair Jerome Powell. Regional currencies cooled slightly after a stellar rally through November, amid growing...

• Dollar gained against major currencies due to a combination of investor profit taking and Euro weakness, despite signs of a slowing U.S. economy. • The currency posted a 3% loss for the month, on pace for its worst monthly showing in a year. • The euro fell 0.7% against the dollar after Eurozone inflation dropped more than expected this month. • Initial claims for state unemployment benefits increased 7,000 to 218,000 in the latest week but activity data remains resilient. • Market suggests roughly 100 basis points of rate cuts by the end of 2024. NEW YORK-The dollar gained on Thursday as investors took profits on bets the currency would weaken further and shrugged off data showing signs the U.S. economy is slowing. Thursday's...

Most Asian currencies rose on Wednesday as less hawkish signals from Federal Reserve officials ramped up hopes for an early interest rate cut in 2024, which put the dollar near four-month lows. The New Zealand dollar was the best performer for the day, rallying nearly 1% after the Reserve Bank of New Zealand kept interest rates on hold, but flagged potential rate increases in 2024 as inflation remained sticky. The RBNZ hiked its forecast for peak interest rates in 2024- which saw analysts at Westpac now forecasting a 75% probability of an at least 25 basis point hike in the coming months. Asia FX up, dollar near 4-mth low after Fed officials talk pivot Broader Asian currencies advanced after Fed officials said in overnight comments...

ORLANDO, Florida (Reuters) -The rise in U.S. rate cut expectations for next year seems to have prompted hedge funds to cool their optimism on the dollar, potentially weakening a key plank of support for the currency in the coming months. The latest Commodity Futures Trading Commission (CFTC) data shows that funds cut their net long dollar position against a range of major and emerging currencies to $4.5 billion in the week ending Nov. 14 from $10 billion the week before. The $5.5 billion week-on-week swing is the biggest since July and second largest this year, and comes as interest rate futures markets had moved to price in up to 100 basis points of Fed rate cuts by the end of next year. That dovishness has been tempered in...

28.11.2023 - Reeling from a bear market last year, beaten-up investors decided to send more than $60 billion to exchange-traded funds focusing on dividends. Eleven months later, the trade is misfiring. Rather than give shelter in a stormy season, the largest dividend ETFs have been left behind by a tech-obsessed market whose biggest proxies have surged 15% or more. At the bottom of the leader board is the $18 billion iShares Select Dividend ETF (ticker DVY), down 5.4% on a total return basis after all-in bets on utilities and financial stocks fizzled. It’s the latest lesson on the dangers of market timing. Investors wanted exposure to companies with a history of paying out profits as a precaution amid the Federal Reserve’s most...

Most Asian currencies weakened slightly on Monday, while the dollar steadied as traders hunkered down before a string of key economic readings due this week. Mixed signals from China weighed on sentiment, as data showed a sustained, albeit narrowing decline in industrial profits. Top Chinese government officials called on Beijing to unlock more financial support for local businesses amid a slowing economic recovery. The yuan fell 0.1%, following a slightly weaker daily midpoint fix by the People’s Bank of China. Focus this week was on purchasing managers index (PMI) data for November, due on Thursday, for more cues on business activity. PMI readings for October had largely missed expectations. Still, Beijing has more stimulus...

Most Asian currencies kept to a tight range on Thursday as some signs of resilience in the U.S. labor market pushed up the dollar and brewed uncertainty over the path of interest rates. Regional trading volumes were low on account of market holidays in the U.S. and Japan, and are expected to remain muted for the remainder of the week. The Chinese yuan was among the better performers for the day, rising 0.2% to 7.1428 against the dollar after a substantially stronger-than-expected daily midpoint fix from the People’s Bank. Markets were also watching for any more stimulus measures from the government, as Beijing was seen preparing more monetary support for the beleaguered property sector. Focus is now on Chinese purchasing managers...

The USD/JPY currency pair experienced a pullback during Thursday's Asian trading session as market participants weighed the prospects of a hawkish turn in the Bank of Japan's (BoJ) policy against a backdrop of uncertainty regarding future Federal Reserve rate hikes. Despite a brief recovery from its monthly low on Tuesday, the pair failed to surpass the previous night's high due to these speculations. On Wednesday, the Japanese Yen initially weakened, reaching 149.75 against the US Dollar. However, it managed to regain some ground on Thursday. This recovery came despite strong US labor market data and minutes from the Federal Reserve that suggested a hawkish stance, both of which had previously bolstered the US Dollar. Contributing to...