The dollar fell, resuming this month’s downtrend, as traders debated the size of a potential Federal Reserve interest-rate cut later Wednesday. Japanese shares pared earlier gains as the yen strengthened. Bloomberg’s dollar index dropped for the fifth time in six days as market-implied odds put the chance of a half-point Fed rate cut Wednesday at just over 50%. The central bank will also release its long-term dot-plot forecasts with the decision, and Chair Jerome Powell will hold a press conference. Japanese stocks retraced earlier gains as the yen rebounded in Asia from its weakness on Tuesday, hurting the outlook for the nation’s exporters. Other Asian shares were mixed while US stock futures crept higher with investors unwilling to place big bets before the Fed. Treasuries were little changed. Traders who are locked into record wagers tied to the Fed’s expected rate cut Wednesday are risking sharp losses if officials opt for a standard-sized reduction. In some markets, investors are primed for further easing from their local central banks in anticipation that the Fed will take more aggressive action to head off a slowdown. Bloomberg’s dollar gauge slipped 0.1%, extending losses over the past week to almost 1%. The yen climbed about 0.7% after sinking more than 1% in New York. Bank of Japan Governor Kazuo Ueda and his colleagues are forecast to keep rates hold on Friday and discuss whether conditions are falling into place for another hike this year. Chinese chip-related stocks jumped after the nation claimed a breakthrough in the development of homegrown chip-making equipment. Shanghai Zhangjiang High-Tech Park Development jumped by the daily 10% limit, while Changchun UP Optotech and Sai Micro Electronics also rallied. What Powell says in his press conference about the state of the US economy may help build confidence for those worried about a recession in the near term, according to Kristina Hooper at Invesco, who expects the Fed to cut by 25 basis points. Oil edged lower after a two-day gain as traders assessed indications of higher US stockpiles, rising tensions in the Middle East, and the likely course of the Federal Reserve’s rate path. Crude jumped Tuesday after thousands were hurt in what Hezbollah labeled an attack by Israel involving pagers in Lebanon. US After Hours LUNR +32.6% wins NASA contract; BLK, MSFT and others launch new AI infrastructure fund.
Nikkei +0.17% Hang Seng Closed CSI -0.12% Shanghai -0.15% Shenzen -0.97%
Eur$ 1.1123 CNH 7.0970 CNY 7.0960 JPY 141.38 GBP 1.3162 CHF 0.8453 RUB 91.5717 TRY 34.0681 WTI$ 70.89 -0.42% Gold 2,571 +0.06% BTC 60,476 +0.56% ETH 2,327 -0.76%
S&P +0.07% Nasdaq +0.07% EuroStoxx -0.04% FTSE -0.27% Dax -0.09% SMI +0.05%
Macro :
- Scaramucci Expects Bitcoin Record on Rate Cuts, Clearer US Rules
- EU competition chief warns against weakening rules to create champions
- EU competition chief warns against weakening rules to create champions
- STEVE COHEN STOPS TRADING FOR POINT72, WILL REMAIN CO-CIO
- Switzerland’s SIX explores launching crypto exchange
Keep an eye on :
Keep an eye on :
- ACS SM : ACS enters the bidding for Asterion and Telefónica data centers
- ACS SM : ACS’s Iridium Among Final Bidders to Buy Nabiax: Expansion
- AIR FP : Indonesian Air Force Orders Four Airbus H145 Helicopters
- AF FP : Air France Suspends Flights Between Paris and Beirut, Tel Aviv
- AMS LN : Inflexion Mulls Takeover of AMS Group: Sky News
- BEIJB SS : Beijer Ref Holder EQT Offers About 20m Shares: Terms, placed @ SEK165/share
- BOX US : Box Prices $400m Convertible Senior Notes Offering (1)
- BP/ LN : Exxon, BP Scenarios Expect Peak Carbon In Next Few Years: BNEF
- BRBY LN : Burberry Desperately Needs the Return of Britpop: Andrea Felsted
- ALCAR FP : Carmat to Raise EU10.3M in Capital Increase
- CON GY : Continental Is Said to Push Ahead With Pitches for Auto Spinoff
- DOV IM : doValue Reverse Stock Split to Take Place Sept. 23
- ELO NO : Elopak Offering of 20m Shares by Holder Prices at NOK41/Share
- FDJ FP : FDJ Brings Forward Expiry of Kindred Offer Acceptance Period
- G IM : Assicurazioni Generali Reaches Deal to Sell Turkish Business
- HTRO SS : Hexatronic Group CEO Henrik Larsson Lyon to Depart
- MSFT US : BlackRock and Microsoft plan $30bn fund to invest in AI infrastructure
- MB IM : Partners Group Forms Partnership With Mediobanca Private Banking
- MBTN SW : Meyer Burger CEO, CFO Stepping Down Amid Restructuring
- MBTN SW : Solar Panel Maker Meyer Burger to Cut Jobs, Sacks Top Executives
- MSTR US : MicroStrategy Said to Raise $875M in Upsized Convertible Issue
- MONC IM : Moncler Holder Grinta Offers 2.29m Shares via JPMorgan, Moncler Offering by Rivetti Prices at EU49.80/Share: Terms
- 5401 JP : NIPPON STEEL SAID TO WIN EXTENSION FOR REVIEW OF US STEEL DEAL
- NOVN SW : Novartis Early Breast Cancer Treatment Kisqali Wins FDA Approval
- NVDA US : Nvidia Recently Discussed Acquiring Software Startup OctoAI for $165 Million
- PNDXB SS : Pandox Offers SEK2 billion Shares, Pandox Offering of 10.8m Shares Prices at SEK186/Share
- PGHN SW : Partners Group Forms Partnership With Mediobanca Private Banking
- RKT LN : Reckitt Said to Start Talks on £6 Billion Homecare Assets Sale
- SCATC NO : Scatec Offering by Holder Prices at NOK80.50/Share
- STR AV : Strabag Says Rasperia Stake Reduction Binding After Court Ruling
- STLA US : UAW to Hold Strike Authorization Votes Against Stellantis (1)
- TUP US : TUPPERWARE FILES BANKRUPTCY AFTER FAILED TURNAROUND EFFORT
- X US : U.S. Steel C.E.O. Says Nippon Deal Will Strengthen National Security
- VLA FP : Valneva Submits Label Extension Applications for Chikungunya Jab