Asian stocks and currencies rose as investors pared bets on a Federal Reserve interest-rate hike this month, weakening the dollar. The yen strengthened.
MSCI’s Asia Pacific equities gauge climbed 0.5%, with two shares rising for every one that fell, after Fed Governor Christopher Waller said he would support keeping rates steady if price pressures continued to ease. Swaps priced roughly even odds of a quarter-point hike in September, down from about 70% earlier this week. A Bloomberg gauge of the dollar steadied after falling to its lowest since May. An index of Asian currencies climbed to levels last seen in October 2024. Treasuries and gold held their gains from Thursday. Attention in Asia was once again on the yen, which strengthened about 2% Thursday, reversing a month of gradual decline. Traders lifted bets on Bank of Japan rate hikes and remained vigilant to the risk of official action to further boost the currency. The currency traded at about 155.95 per dollar, having climbed to as high as 155.30 in the prior session. Stocks and bonds drew support from Waller’s comments after yields surged globally to multi-decade highs earlier this week, as rising oil prices and Chair Kevin Warsh’s hawkish stance had fueled expectations for a Fed rate hike to contain inflation. The rout also reflected demands for greater compensation amid years of heavy government spending, persistent price pressures and a wave of corporate borrowing to finance the artificial-intelligence buildout. The comments “are very meaningful because they might have changed the or tilted the balance of next Fed policy decision,” Suresh Tantia, UBS Global Wealth Management Head CIO Asia Equity Strategy, said on Bloomberg TV. “At this point of time we are watching two key things, one is the nonfarm payrolls data coming on Friday, and the next inflation data. They are likely to decide whether Fed moves in the next meeting or not.” In other corners of the market, Brent edged up 0.2% to $95.71 a barrel as Iran claimed fresh strikes on US bases, while Saudi Arabia’s smaller-than-expected increase in its flagship crude prices helped offset some concern about tighter supplies. Bitcoin traded near the $81,000 mark, while the rate-sensitive two-year Treasury yield held at 4.34% after declining in the previous session following the Fed governor’s remarks. Attention now turns to Friday’s nonfarm payrolls report, with markets increasingly leaning toward a hold, though that view could shift if inflation proves stickier than expected. Back to the yen, the rebound from a fall to 160 earlier this week underscores market jitters ahead of the BOJ’s Sept. 18 policy decision, when the central bank is widely expected to raise rates. The currency’s gains in New York trading, wrapped up its best day since Tokyo and Washington entered the market to prop up the yen just over a month ago. US After Hours OXM -18.1%, LULU -17.9%, GWRE -15.8%, ASAN -11.9%, PATH -7%, AMBA -5.8% lower on earnings; IOT +13.7%, SWBI +10.1%, PL +5.5%, DOCU +4.3% higher on earnings.
Nikkei +1.39% Hang Seng +1.89% CSI +0.48% Kospi +2.17% Shanghai +0.28% Shenzen +0.06%
Eur$ 1.1625 CNH 6.7146 CNY 6.7165 JPY 156.38 GBP 1.3531 CHF 0.8082 RUB 87.0058 TRY 48.4412 WTI$ 92.06 +0.81% Gold 4,469 -0.37% BTC 81,048 -0.48% ETH 2,508 +0.19%
S&P +0.08% Nasdaq +0.24% EuroStoxx +0.12% FTSE +0.07% Dax +0.27% SMI +0.11%
Macro :
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Keep an eye on :
Keep an eye on :
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