Asia shares slip as inflation, politics call for caution

June 24, 2024 11:02 AM

Asia shares slip as inflation, politics call for caution

Asia shares slipped on Monday in a countdown for U.S. price data that investors are banking on to show a renewed moderation in inflation, while markets were on alert for possible Japanese intervention as the dollar tested the 160 yen barrier. Geopolitics also loomed large, with the first U.S. presidential debate on Thursday and the first round of voting in the French election at the weekend. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.9%, after touching a two-year top las...

India’s wholesale inflation rises from 1.26% to 2.61% in May, pushed by food, energy prices

September 16, 2024 6:35 PM

India’s wholesale inflation rises from 1.26% to 2.61% in May, pushed by food, energy prices

Wholesale inflation in India, based on the Wholesale Price Index rose to 2.61 per cent in May versus 1.26 reported in April, official data from the Commerce Ministry showed on Friday. Thus, it remained in positive territory for the seventh month after remaining in the negative zone for seven months until October. The high rate of wholesale inflation in April was primarily due to an increase in prices of food articles and minerals. In the food basket, cereals, paddy, pulses, vegetables, potato,...

Fed leaves rates unchanged, sees only one 2024 cut despite inflation progress

June 13, 2024 11:23 AM

Fed leaves rates unchanged, sees only one 2024 cut despite inflation progress

The Federal Reserve held interest rates steady on Wednesday and pushed out the start of rate cuts to perhaps as late as December as policymakers sketched out their view of an economy that remains virtually unchanged across its major dimensions for years to come. With growth and unemployment lodged at levels better than the U.S. central bank considers sustainable in the long run, Fed Chair Jerome Powell said policymakers were content to leave rates where they are until the economy sends a clear ...

Fed expected to hold rates steady, project fewer cuts in 2024

June 12, 2024 5:35 PM

Fed expected to hold rates steady, project fewer cuts in 2024

The Federal Reserve is expected to leave interest rates unchanged on Wednesday, with new economic projections from the U.S. central bank's policymakers likely to show fewer rate cuts this year and a delayed start to monetary policy easing. Fed officials will receive a new round of inflation data that could shape their outlook just hours before they conclude their latest two-day meeting and release a fresh policy statement and updated quarterly projections. But with the Fed's efforts to lower i...

Asia shares rally on promise of rate relief, factory pick up

September 16, 2024 5:43 PM

Asia shares rally on promise of rate relief, factory pick up

Asian share markets rallied on Monday as investors looked forward to a rate cut in Europe, and quite possibly Canada, as the next step in global policy easing, though sticky inflation threatens to make the process a drawn out affair. There was also better news from China as the private Caixin survey showed a pick-up in its main factory index to a two-year top of 51.7 in May, from 51.4 in April. Japan's factory activity expanded for the first time in a year in May, while activity in South Korea...

Global stocks and dollar idle ahead of Fed’s favourite inflation figure

May 31, 2024 3:15 PM

Global stocks and dollar idle ahead of Fed’s favourite inflation figure

Global shares were little changed on Friday in subdued trading as investors hunkered down for key U.S inflation figures that will shape the Federal Reserve's thinking on interest rates when it meets mid-June. The dollar was steady against peer currencies ahead of the U.S. inflation data. Oil was slightly weaker after Fed officials said it was too soon to start considering rate cuts, and following a surprise build in U.S. gasoline stocks. The MSCI All Country Stock index was flat at 780.9 poin...

Global equity index dips while yields fall; investors await inflation prints

May 28, 2024 10:40 PM

Global equity index dips while yields fall; investors await inflation prints

A global equities index fell slightly on Tuesday while Treasury yields rose as investors awaited inflation data due later in the week for potential clues about the outlook for U.S. interest rates. U.S. Treasury yields turned positive after the latest crop of U.S. economic data. U.S. consumer confidence unexpectedly improved in May amid optimism about the labor market after deteriorating for three consecutive months, a survey showed. Earlier data showed U.S. house price growth slowed sharply in ...

Shares nudge higher as US, EU inflation data loom

May 27, 2024 7:14 PM

Shares nudge higher as US, EU inflation data loom

World shares firmed on Monday as investors braced for a busy run of inflation data that could set the scene for a European rate cut as soon as next week and a U.S. policy easing within just a few months. Holidays in Britain and the United States made for thin trading ahead of Friday's figures on core personal consumption expenditures (PCE), the Federal Reserve's preferred measure of inflation. MSCI's broadest index of stocks gained 0.2%, having slipped 0.38% last week and just shy of an all ti...

Global stocks slip on inflation jitters

May 22, 2024 3:07 PM

Global stocks slip on inflation jitters

Share markets fell on Wednesday as stronger-than-expected inflation in Britain offset investor hopes that AI-heavyweight Nvidia could meet sky-high expectations, with the market also waiting for possible clues on when the U.S. Federal Reserve will begin to bring down interest rates. European stocks dipped 0.3% in early trading, after earlier being poised for slim gains. Britain's FTSE 100 led losses among regional markets with an 0.6% drop. Inflation in Britain fell by less than expected in Ap...