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Stocks set for regular monthly loss, revenues, macro action heats up

International shares headed for their first monthly loss in six months on Tuesday ahead of a. slew of financial data, profits and the U.S. Federal Reserve's. policy meeting, while the yen damaged a day after thought. intervention raised it from 34year lows.

The MSCI All-World index was last up 0.1% on. the day, bring some of the favorable momentum from a rally on. Wall Street the day before. However the index is heading for a loss. of 2.2% in April, its worst regular monthly performance since October.

In Europe, financiers digested profits from a few of the. region's greatest companies, consisting of lending institutions HSBC,. whose chief executive revealed his surprise retirement and. Santander, along with consumer heavyweights such as. Adidas and airlines like Lufthansa.

In regards to profits, Amazon will remain in the. spotlight when it reports first-quarter figures after the. closing bell. Apple reports later on today.

Results have been competing with macroeconomic information for the. position of greatest driver for the broader market and this. week brings the critical U.S. work report, along with. the outcome of the Fed's two-day policy meeting on Wednesday.

Today, the Japanese yen is in stark focus after surging. unexpectedly on Monday from a fresh 34-year low of 160.245, with. traders pointing out yen-buying intervention by authorities.

Markets had been anticipating that Japan may intervene to. prop up the yen after the currency fell more than 10% versus. the dollar this year.

On Tuesday, the yen was back under pressure,. leaving the dollar up 0.37% at 156.92.

Japan's top currency diplomat, Masato Kanda, said on Tuesday. authorities were ready to handle forex matters. around the clock, while decreasing once again to talk about whether. the financing ministry had intervened a day earlier.

We are all set 24 hours, so whether it's London, New York City or. Wellington (hours), it doesn't make a distinction, the vice. financing minister for global affairs informed reporters.

MIND THE YIELD SPACE

Vasu Menon, handling director of financial investment method at. OCBC, stated intervention alone can not narrow the space in interest. rates that is largely driving the yen's decline.

The yen has actually been under pressure as U.S. interest rates have. climbed and Japan's have actually hugged zero, funnelling squander. of the yen and into higher-yielding possessions.

A lot now depends upon the result of the Fed policy conference. today, stated Menon.

Financiers have constantly had to call back expectations for. the timing and magnitude of U.S. rate cuts this year after. hotter-than-expected inflation reports, with market value in. a 57% chance of a rate cut in September, CME FedWatch Tool. showed.

Either you believe that inflation principles promote for. a structural rebound in inflation, or more, Q1 was a set-back. and things are going get back into landing mode, Lombard Odier. economist Samy Chaar said, adding that this second scenario was. his base case right now.

Inflation will be judge and jury of what the Fed does.

Traders are now pricing in 35 basis points of cuts in 2024,. significantly below the 150 bps of cuts priced in at the start of. the year.

The moving expectations on U.S. rates have raised Treasury. yields and the dollar, controling the currency market. Against a. basket of currencies, the dollar was up 0.1% at 105.76. The index has actually risen over 1% in April and over 4% this year.

Meanwhile, futures on the S&P 500 and Nasdaq. were down 0.1%, recommending a touch of weakness at the open. later.

U.S. stocks closed up on Monday, led by sharp gains in Tesla. shares after the electrical lorry maker made progress. in protecting regulative approval to launch its sophisticated. driver-assistance program in China.

Oil rates edged up, pressing U.S. unrefined futures up. 0.4% to $82.99 a barrel, and Brent crude up 0.3% to. $ 88.69.

Spot gold was last down 0.9% at $2,313 an ounce.