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After Fed cut interest rates, stocks rise and yields and the dollar fall
The Federal Reserve cut rates on Wednesday as expected and investors remain hopeful of further reductions, even though the central bank has indicated it is likely to pause the cuts for the time being. The U.S. dollar was lower than major currencies. The U.S. central bank cut rates by a quarter percentage point, and projections issued ?after ?its two-day meeting showed the median policymaker sees just one quarter-percentage-point cut in 2026, the same outlook as in September. Fed Chair Jerome Powell refused to give any indication in his press conference following the announcement of the interest rate reduction. He did say that the U.S. labour market is a very volatile one and the Fed does not want to reduce job creation with its current policy. Following Powell's remarks, stocks gained and Treasury yields fell. Jake Dollarhide is the CEO of Longbow Asset Management, a Tulsa-based asset management firm. Investors can take heart from the fact that there is a possibility of a cut in 2026. This is much better than dire predictions of a lack of cuts in 2026. Dollarhide stated that the weakening of the job market was more concerning than the inflationary trend. He added there were "tremendous concerns" about bond vigilantes hijacking the 'bull market rally. The Dow Jones Industrial Average rose by 497.46, or 1.5%, to 48.057.75. The S&P 500 gained 46.17, or 0.67 percent, to 6,886.68. And the Nasdaq Composite increased by 77.67, or 0.33 percent, to 23,654.16. Santa rally is the last two weeks of December, when the S&P 500 tends to perform better than usual. Investors are settling their books for the year. The MSCI index of global stocks rose by 5.30 points (0.53%) to 1,011.74. The pan-European STOXX 600 ended the day 0.07% higher. Markets have priced in 78% of the chance that the Fed will keep rates the same next month. This is compared to a 70% likelihood just before the announcement. The rate futures market has still priced in two rate cuts for 2026, even though the Fed's forecast was only one next year. Three people disagreed with the Fed's 25 basis point rate cut. The recent U.S. shutdown has caused a lack of data, and the November payroll report will be delayed until December 16th. Inflation figures are due after that. The yield of the benchmark 10-year Treasury bill in the United States fell 4.3 basis point to 4,143%. It had fluctuated between a low session of 4.137%, and a high three-months ago of 4,209%. The 10-year Treasury yield was about to end a streak of four consecutive sessions of gains. This is the longest streak of gains since?five weeks. The yields on bonds have risen in recent weeks as central banks around the world signaled that they were nearing the end of easing cycles. Meanwhile, the Bank of Japan will likely raise rates next week at its policy meeting. The U.S. Dollar fell against other major currencies, including the Euro, Swiss Franc, and Japanese Yuen. Powell's remarks that the U.S. central bank is unlikely to raise rates next time were also a drag on the greenback. The dollar fell 0.8% in late afternoon trading against the Swiss Franc, to?0.8000 Swiss franc. It was also down 0.6% against the Japanese yen at 155.92. The dollar index, which measures greenbacks against a basket including yens and euro, fell?0.6% at 98.66. After the Fed cut rates, gold prices began to climb. Spot silver prices have risen 113% this year to reach a record high of $61.85. Oil prices increased on the energy market after the U.S. government claimed to have seized a tanker of oil off the coasts of Venezuela. Brent crude futures rose by 27 cents or 0.4% to settle at $62.21 a barrel. U.S. West Texas intermediate crude futures also gained 21 cents or 0.4% to close at $58.46 a barrel.
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Researchers say that climate change is a major factor in the deadly November Asian storms.
Scientists said that the storms which devastated Sri Lanka in late November, Indonesia, Malaysia, and Thailand were'supercharged' by increased sea temperatures, and made worse by rapid forest destruction, according to a new study. Tropical Cyclone Senyar, which formed in the Malacca Strait and devastated Southeast Asia, killed nearly 1,200 people, 969 of whom were on Sumatra, an island in Indonesia. For the damages to be repaired, at least $3 billion is needed in relief funds. Sri Lanka has been hit by flooding and landslides due to Tropical Cyclone Ditwah. The death toll is over?600, and the economic losses are estimated at $7 billion. Researchers with the World Climate?Attribution Group said that the sea surface temperature in the North Indian Ocean was 0.2 degrees Celsius above the average for 1991-2020, giving the storms more heat and energy. They estimated that if it wasn't for the 1.3C increase in global temperatures since pre-industrial times, the surface of the sea in the area would have been one degree cooler in late November. Scientists say that there is no evidence to suggest climate change has increased the frequency of tropical storms, but they do say that higher sea temperatures make individual events more damaging. The study's author and climate researcher Sarah Kew said, "What isn't normal is the?intensity of these storms. They are affecting millions and killing hundreds of people." Researchers were unable to determine climate change's exact contribution to storms, but they did say that the increased extreme rainfall in the Malacca Strait could be 9-50% higher than normal and up to 28-160% more in Sri Lanka. Scientists warn that extreme weather could affect more areas as storms move to new locations and take different paths. Scientists said that Senyar was the only storm to ever land in Malaysia after it crossed the Malacca Strait from the west. (Reporting and editing by Topra Chopra; David Stanway, reporting)
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Wall Street indexes rise after Fed lowers interest rates
Wall Street closed higher on Wednesday after the Federal Reserve cut rates by a quarter of a percentage point, as expected. Investors bet that the Federal Reserve will continue to ease interest rates in the future. However, the central bank indicated it would pause further cuts for the time being. Before making its next policy decision, the central bank will look for more clear signals on the direction the economy is taking and the inflation rate that "remains somewhat high." The Fed's two day meeting was followed by projections that showed a median expectation of another quarter point cut in 2026. This is in line with the expectations from the September meeting. Policymakers also raised their estimates of 2026 GDP growth from 1.8% to 2.3% and maintained their expectations for a 4,4% unemployment rate by the end of next year. Fed Chair Jerome Powell refused to give any indications in his press conference as to whether another rate cut will occur soon. Investors gained a 'little hope of easing? from Powell's comments about the significant downside risks in the labor market and the central bank not wanting its policy to slow down job creation. Lindsey Bell is the chief investment strategist of 248 Ventures in Charlotte, North Carolina. She said that Powell's discussion on the labor market was a good thing for the market, as it would support further cuts next year. U.S. Treasury Yields also "lost steam" when Powell spoke and this helped support stock price gains. Markets were muted before the Fed's statement, as investors feared that, despite widely expecting a rate cut, the Fed might adopt a more hawkish stance on policy. Even before Powell's remarks, some investors had been looking at more rate cuts because of labor market concerns. The market is picking up on the fact that the Fed's policy could be eased further, even though expectations for 2026 are unchanged with a 25 basis-point price in, said Michael Rosen, chief Investment Officer, Angeles Investments. The S&P 500 ended the day up 46.17, or 0.67% at 6,886.68, aiming to return to its record-breaking closing high of October 28, but falling short. The Dow Jones Industrial Average increased 497.46, or 1.5%, to 48.057.75. Meanwhile, the Nasdaq Composite rose 77.67, or 0.33 percent, to 23,654.16. Russell 2000, a small-cap index sensitive to interest rates, outperformed the large cap Russell 2000 with a gain of 1.3% and a record closing high. All but two of the S&P 500’s 11 major industries sectors showed growth. The Industrials sector saw the largest gain, gaining 1.8%. The biggest boost came from energy equipment maker GE Vernova. It surged by 15.6% following a forecast of higher revenue in 2026. This signaled strong demand for AI-related infrastructure. Consumer staples barely fell, while defensive utilities were the biggest losers. On the NYSE, there were 496 highs and 52 lows. On the Nasdaq 3,164 stocks rose, while 1,642 fell. The ratio of advancing issues to decliners was 1.93:1. The S&P 500 recorded 45 new 52-week lows and seven new highs, while the Nasdaq Composite registered 185 new highs. In the United States, 16.91 billion shares were traded compared to the 17.41 billion average moving price for the past 20 sessions. Reporting by Sinead carew, Laura Matthews and Caroline Valetkevitch, in New York; Johann M Cherian, Pranav Kashyap and David Gregorio, in Bengaluru. Editing by Tasimzahid, Shinjiniganguli and David Gregorio.
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Silver reaches all-time high after Fed rate reduction
After the Federal Reserve cut rates, gold prices rose on Wednesday, but uncertainty about next year's policies remained. Silver also reached a record high. At 3:17 pm, spot gold was up 0.7% to $4,236.57 an ounce. ET (2017 GMT). U.S. Gold futures for delivery in February settled at $4,224.70, down 0.3%. In another divided vote, the Fed reduced interest rates. However, it signaled that they will likely hold off on further reductions of borrowing costs until officials receive clearer signals regarding the direction the job market and inflation is taking. Metals trader Tai Wong said, "Gold traders are pleased with the results today. It's trading near its day-highs after having survived a bout of profit-taking." Investors are more likely to be interested in non-yielding investments when interest rates are lower. Majority of U.S. central banks believe that they will have to reduce short-term rates next year. However, the amount is widely divided. Three rate increases are penciled in by three central bankers, but a large majority of them oppose any interest rate cuts. Fed Chair Jerome Powell has said that the central bank's rate policy is positioned well to respond to the challenges facing the economy. He declined to give any further indication as to whether another cut will be made in the near future. "Powell danced around the raindrops and coaxed another rate reduction from a divided panel with only three dissenters, and major market are rallying through his press conference. "It is unclear whether gold will reach new highs," said?Wong. Spot silver reached a new record high of $61.85. The price of silver has risen 113% this year due to a combination of factors including a rising industrial demand, falling inventories and the designation by the U.S. as 'critical mineral. In a recent note, analysts at SP Angel stated that "in our opinion, the outperformance of silver is due to speculative funds flowing into a levered-up play after gold's decline." Silver is also benefiting from tightening physical markets, after a shortage in October. Palladium fell 2%, to $1475.94, while platinum dropped 2.4%, to $1654.55. (Reporting and editing by Shailesh Kuber and Krishna Chandra Eluri in Bengaluru. Ashitha Shivaprasad and Anushree Mukherjee, both from Bengaluru)
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Stocks continue to rise, while yields continue to fall as Fed lowers rates
The major stock indices gained on Wednesday, while U.S. Treasury Yields continued to decline after the Federal Reserve lowered interest rates. The U.S. Dollar remained lower. Projections issued after the U.S. central bank's two-day meeting showed the median policymaker sees just one quarter-percentage-point cut in 2026, the same outlook as in September. Policymakers are weighing the signs of a cooling labour market against inflation concerns. The recent U.S. shutdown has caused a lack of data, which will delay the November payroll report until December 16 while the inflation figures are due two weeks later. The 25 basis point rate cut was widely anticipated and economic projections are still optimistic. Peter Cardillo is the chief market economist of Spartan Capital Securities, New York. He said, "I would view this as semi-dovish and cautious." In his comments after the announcement, Fed Chair Jerome Powell stated that the U.S. Central Bank interest rate policy was well-positioned to'respond to what lies ahead in?the economic future, but he refused to give any indication as to whether another rate cut is imminent. The Dow Jones Industrial Average rose by 550.13 or 1.16 percent to 48,112.12, while the S&P 500 gained 50.67 or 0.74 percent to 6,891.18. And the Nasdaq Composite was up by 102.47 or 0.43 percent to 23,678.63. MSCI's global stock index rose by 2.00 points or 0.20% to 1,008.44. The pan-European STOXX 600 ended the day 0.07% higher. Market participants anticipated the Fed's decision. Three dissenters voted against the decision to reduce by 25 basis points. The dollar was down against the major currencies. The dollar index (which measures the greenback in relation to a basket of currencies, including the yen and euro) fell by 0.23% at 98.99. Meanwhile, the euro rose 0.26%, reaching $1.1655. The dollar fell 0.17% against the Japanese yen to 156.6. U.S. Treasury yields continued to decline. The yield on U.S. benchmark 10-year notes dropped 4.1 basis points to 4.145% from 4.186% at the end of Tuesday. The yields on bonds have been rising around the world in recent weeks as central banks signalled that they are nearing the end of the easing cycle. It is expected that the Bank of Japan will raise rates next week at its policy meeting. Caroline Valetkevitch reported from New York with additional reporting from Amanda Cooper in London and Stephen Culp and Wayne Cole in Sydney. Mark Potter and Matthew Lewis edited the story.
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Combs, Berkshire's Combs, is the new face of JPMorgan in its national security bet
Todd Combs, Berkshire Hathaway's seniorest external hire, will?turbocharge JPMorgan Chase’s $1.5 trillion push towards national security. Combs is a longtime deputy of legendary investor Warren Buffett. He joined the nation's biggest bank this week to head a team which will invest over $10 billion in JPMorgan money into companies that are deemed "strategic" for the United States. He will be reporting directly to CEO Jamie Dimon. Sean Dunlop is a Morningstar banking analyst. He said, "It's hoped that the group of investors can help JPMorgan identify opportunities, and identify and overcome policy obstacles." Combs’ group will target smaller and midsized businesses rather than large-scale acquisitions. JPMorgan's investment in Perpetua Resources Corp., which raised $255 in equity investments recently, triggered the initiative in late October. DIMON'S BUS TOUR Dimon's annual bus tour, which took place this summer, was the catalyst for the bank's initiative on national security. He visited the L3Harris Technologies plant in Alabama which produces?critical propulsion system, solid rocket motors, and engines for major defence and space programs. Source: An executive told Dimon that their supply chain and vendors can be challenged by 'uncertainty about future orders volumes. Dimon asked bankers to explain how they could assist vendors of large defence companies facing similar challenges. L3Harris has declined to comment. JPMorgan has a 10-year, $1.5 trillion plan to finance, facilitate and invest in industries that are critical to the national economy. The bank will invest direct equity or venture capital of at least $10 billion to select companies in the United States as part of its new initiative. Sources said that Combs' new team at JPMorgan will include both external hires and employees who are being redeployed to the asset and wealth management and corporate and investment banking departments. Combs was previously on the board of JPMorgan. He led Geico, an insurer backed by Berkshire. Dimon chose him as his first choice, according to the source. Dimon stated in a Monday statement that Todd Combs was one of the most successful investors and leaders he had ever known. Combs, who ran a hedge-fund before joining Buffett's conglomerate, joined the company in 2010. "He really enjoys working here, and he knows the senior staff. He loves this company." Dimon said in a Financial Times report that Combs was a "natural fit" for the company. "I find it incredibly interesting that he uses his skills in so many different ways." Combs is "a very impressive long-term investor track record", according to Meyer Shields at Keefe Bruyette & Woods. Imagine (Combs), metaphorically, sitting at (Buffett)'s (Buffett) knee to understand how Warren Buffett views the world. It's likely that his background is a good one for the strategic role he will be undertaking at JPMorgan." Buffett's focus on executives running businesses, such as Combs when he was at Geico, helps them have a deeper understanding than other investors. Dimon has always linked economic strength and national security. He writes in his annual letters to investors, that America must invest in critical technologies and rebuild its industrial capacity to maintain leadership in the world. Dimon said that the U.S. is too dependent on China to provide essential resources such as semiconductors, pharmaceutical ingredients and rare earths. Dimon said that the U.S. is too dependent on China for essential resources like rare earths, semiconductors and pharmaceutical ingredients. Dunlop says it is still unclear how much of JPMorgan's $1.5 trillion commitment will be split between direct investment and loans, and what percentage will see JPMorgan acting as an intermediary. JPMorgan was both a lender and an advisor to MP Materials, in October. They arranged $1 billion in committed financing for the government-backed deal that aims to increase output of rare earth magnetic materials. (Reporting and editing by Lananh Nguyen, Nick Zieminski and Saeed Azhar)
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Congo rebels enter strategic city as peace deal falls apart
Sources told AFP that M23 rebels backed by Rwanda have invaded the town of Uvira in eastern Congo, near the Burundian border. This is the largest escalation of the war in recent months, they said. Uvira is located on the shores Lake Tanganyika and has been the headquarters for the Kinshasa appointed government in South Kivu Province as well as its regional military bases since the??provincial capitol, Bukavu fell to the M23 in Februrary. The rebels could advance further if they control Uvira. M23's latest advance in the mineral-rich area comes less than one week after Congolese president Felix Tshisekedi met with U.S. President Donald Trump and confirmed their commitment to an American-brokered deal. Congo and Rwanda accuse each other of having violated the agreement. Congo's Foreign Minister has called on Washington to increase targeted sanctions against Rwanda in order to "restore credibility" to its mediation efforts. Rwanda, which denies supporting?M23 and blames Congolese forces, as well as Burundi, for the renewed fighting. Human Rights Watch's Central Africa Director, Lewis Mudge, said that the violence in Uvira proves that signing agreements in Washington "is not enough" to guarantee the safety of civilians living in eastern Congo. CONTROL OF UVIRA IS DISPUTED According to the United Nations, 200,000 people fled their homes over the past few days. Scores of civilians were also killed. On Wednesday, it was unclear whether M23 controlled Uvira in its entirety. One resident, who asked to remain anonymous for safety concerns, said that "there's still firing". The resident claimed that M23 told residents to stay at home while its forces cleared any resistance. A source in the government of Congo said that the military wouldn't react to protect civilians. Lawrence Kanyuka said, "The city is liberated," on X. Edouard Bizimana is the Burundi foreign minister. He said that Uvira has not yet fallen. Fear of Regional Violence M23 made a rapid advance in eastern Congo, capturing more territory than any other time in the past, including Goma, one of the two largest cities in this region. Since then, the rebels have tightened their grip in areas they control. However, they had held back from major advances while taking part in Doha peace talks. On Monday, it was reported that M23 had taken Luvungi - a town which had been on the frontline since February - and that there were fierce battles taking place near Sange, Kiliba and other villages along the road to Uvira in the north. The?U.S. The United States and nine other members from the International Contact Group for the Great Lakes expressed "profound concerns" about the renewed violence in South Kivu. They warned that the violence would destabilise the region. Therese Kayikwamba said in an interview late on Tuesday that Washington should increase sanctions against Rwanda. She suggested targeting "individuals within the chain of command", and institutions like the Rwandan army to limit its ability to purchase weapons. Wagner stated that Washington must restore its credibility by being accountable. "It's not enough to condemn." "It is not enough just to be preoccupied, or to be worried." RWANDA DEFENDS ITS POSITION Rwanda claims its troops are in eastern Congo as "defensive actions," but Washington and the United Nations say that evidence of Rwandan backing for the rebels has been made clear. The Rwandan Foreign Ministry Olivier Nduhungirehe stated on Wednesday that additional sanctions will not stop the fighting. He blamed Kinshasa for failing to implement peace agreements or honour an agreement reached in Washington last week regarding an airstrike ban. He said that Congolese forces had been attacking local communities and rebel positions in South Kivu Province for "weeks and even months" prior to the recent escalation. The Rwandan foreign ministry stated that the international community had not called for an end to the attacks, which were planned by the DRC over months and launched in the last week. Burundi also said it was helping Congolese troops bomb towns near its border. The Burundian army is close to 20,000 strong in South Kivu, in service to the government of DRC. Burundi has not responded to Rwanda's announcement. Reporting by Ange A. Kasongo and Sonia Rolley, Congo Newsroom. Additional reporting by Robbie Corey Boulet, Clement Manirabarusha, and Robbie Corey Boulet. Writing by Silvia Aloisi and Robbie Corey Boulet. Editing by Frances Kerry and Ros Russell. Toby Chopra.
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Investors prepare for Fed, and stocks rise while the dollar falls
On Wednesday, the major stock indexes mainly edged up while the dollar fell as a divided Federal Reserve board faced crunch time. Oracle's earnings were eagerly awaited after the Wall Street closing bell. This and other results may test artificial intelligence valuations that are sky high. When the Fed announces its decision at 2 pm, it is expected that interest rates will be cut. Investors are worried about the outlook for rates next year. How many Fed members predict that there will be one, two, or no cuts in the next year? Analysts suspect that at least two out of 12 voters may be against a easing. This would put Chair Jerome Powell into a tough position. The policymakers are weighing the signs of a cooling labour market against inflation risks. Investors have recently reduced their expectations for rate cuts in the year 2026. The government shutdown will further complicate matters by delaying the important November payrolls report until December 16 while the inflation figures are due two weeks later. Eugene Epstein is the head of Trading and Structured Products at Moneycorp, New Jersey. He said that the Fed was "semi-blind" at the meeting as they didn't yet have a complete picture on the economy. According to CME's FedWatch Tool?, the markets are pricing in an approximately 90% chance of a cut of 25 basis points. Many market participants anticipate a "hawkish" cut in which they expect the Fed to indicate that it intends?to slow or stop?the rate reduction path. Oracle shares fell 0.8% on Wall Street while the S&P500 edged up. The Dow Jones Industrial Average rose 215 points or 0.45% to 47,776.05, while the S&P 500 gained 2.69 points or 0.04% to 6,843.20, and the Nasdaq Composite dropped 66.29 or 0.28% to 23,510.20. Santa Rally is the term used to describe the last two weeks of December, when the S&P 500 tends to perform better than the rest of the year. Investors are settling their accounts for the year. MSCI's global stock index rose 0.12% or 1.18 points to 1,007.62. The STOXX 600 Index rose by 0.07%. Spot silver prices rose 0.6%, to $61/oz. They had hit a high of $61.61 in the previous session. Silver prices have more than doubled in the past year due to a?dwindling of inventories and a bullish market that has attracted momentum funds. In a recent report, the Silver Institute, an industry association, said that there is a growing demand in sectors such as solar energy, electric cars and their infrastructure and data centers?and AI. Treasury yields in the U.S. fell ahead of Fed's announcement. The yield on the benchmark U.S. 10 year notes dropped 2.5 basis points from?4.186% at late Tuesday to 4.161%. In recent weeks, yields have risen around the world as central banks signalled that they are nearing the end of easing cycles. The Bank of Japan, meanwhile, is expected to raise rates next week at its policy meeting. Investors reduced their positions in anticipation for a Fed rate reduction, erasing two days of dollar gains. The dollar index, which measures greenbacks against a basket including the yen, euro and a few other currencies, dropped 0.25% at 98.97. Meanwhile, the euro rose 0.23% to $1.1652. The dollar fell 0.37% against the Japanese yen to 156.28. Caroline Valetkevitch reported from New York, and Amanda Cooper from London. Gertrude Chavez Dreyfuss and Wayne Cole contributed additional reporting in New York, Sydney, and Sydney. Alex Richardson edited the story. Alexander Smith, Mark Potter and Mark Potter).
Asian stocks get on Fed stance, focus turns to BoE
Gold prices and benchmarks in Tokyo and Taipei followed the S&P 500 to tape-record highs on Thursday after the U.S. Federal Reserve showed it would stick to its strategies to cut rates of interest.
The U.S. dollar nudged lower and traders a little increased their expectations for a U.S. rate cut in June. S&P 500 futures increased 0.4%, moving into uncharted area, after the cash index logged a record closing high up on Wednesday.
EuroSTOXX 50 futures rose 1.2%. FTSE futures increased 0.9%. Reserve bank conferences in Switzerland, Norway, Britain and Turkey are scheduled later in the session.
The Fed left U.S. rates on hold in between 5.25% and 5.5% on Wednesday, as anticipated, and pushed up inflation projections. But policymakers' typical forecast for 3 25 basis point rate cuts this year was the same from December.
The projections recommend that they anticipate to ease financial policy even if (year-on-year) core inflation is running greater, said Standard Chartered strategist Steve Englander. We and numerous in the market had expected a shift to 2 cuts in the forecasts because of higher current inflation outcomes. Staying with 3 cuts and implicitly raising the inflation threshold reveals a passion to alleviate, in our view.
Fed Chair Jerome Powell informed reporters sticky inflation reports show cost pressures but have not really altered the overall story, which is that of inflation moving down gradually.
The Nikkei and Taiwan weighted index each climbed 2% to record levels. MSCI's broadest index of Asia-Pacific shares outside Japan leapt 1.6%.
U.S. Treasuries rallied, before steadying in Asia with two-year yields at 4.60% and 10-year yields at 4.27%. Fed members' long-run rate forecasts ticked higher to 2.6% from 2.5%, with seven policymakers forecasting long-run rates over 3% - up from four in December.
This higher long term view recommends the U.S. economy can continue to operate with a higher level of rate of interest than in the past, stated J.P. Morgan Property Management strategist Kerry Craig.
A reasonably stronger U.S. economy and falling rates ought to be a positive for Asian markets as any additional U.S. need will support the manufacturing cycle.
CONTINUE
In foreign exchange markets, the prospect of cuts weighed on the dollar, which together with renewed cautions of possible main intervention from Japan raised the yen from near multi-decade lows to 150.45 per dollar.
The euro traded to a week high of $1.0939 in Asia. The Australian dollar also jumped to a one-week high after a startlingly strong jobs report quashed talk of early policy easing.
With foreign exchange volatility scraping around two-year lows, nevertheless, traders say the dollar can still draw assistance from rate of interest that are higher than peers, at least in the meantime.
One of the larger bring stories is most likely the dollar itself, stated Patrick Hu, a G10 currency trader at Citi in Singapore, who concentrates on yen.
The lack of geopolitical headings or big news is leading to great carry trades that have actually been popular considering that the start of this year, in the lack of a bigger trading theme out there.
Brent crude futures, up 5.6% in bit more than a. week on supply concerns were up 0.6% at $86.47 a barrel.
Iron ore futures - down some 20% this year in. Singapore on stress over China's growth and need - are. staging a little bit of a rebound and experts at ANZ said the marketplace. might be finding a bottom.
(source: Reuters)