Friday, July 11, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Asian shares tentative ahead of US payrolls data, dollar nurses losses

by Euro Times
December 2, 2022
in Business
Reading Time: 3 mins read
A A
0
Home Business
Share on FacebookShare on Twitter


Asian shares were flat and Treasuries held onto gains on Friday ahead of the US non-farm payrolls data, the next big test for investors looking for more signs of a shift from the Federal Reserve, while the dollar nursed heavy losses.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.2% in early trade. Nonetheless, the index is set to rise 4.2% for the week, hovering around the highest level since September.

Japan’s Nikkei fell 1.5%.

S&P 500 futures ESc1 eased 0.3%, while Nasdaq futures NQc1 fell 0.4%%. US shares ended mixed on Thursday after a big rally the day before, buoyed by comments from Fed Chair Jerome Powell that did not sound as hawkish as some had feared.

US data overnight including falling US job openings and contracting US manufacturing activity pointing to signs of easing cost pressure added to evidence that the Fed’s rate hikes have cooled the economy.

Investors are also watching for more signs that China is easing its zero-COVID policy, and whether China would contribute more to global growth next year amid a looming global recession.

Chinese blue chips opened 0.2% lower while Hong Kong’s Hang Seng index edged 0.3% higher.

Sources told Reuters that China is set to announce an easing of its COVID-19 quarantine protocols in the coming days and a reduction in mass testing, a marked shift in policy after anger over the world’s toughest curbs fuelled widespread protests.

Shane Oliver, the chief economist at AMP Capital, said markets, after the strong recent rally, in some cases are up to around technical resistance levels, and it may take a while to get through those points.

“But I suspect given the increasing signs that inflation is peaking globally and China is easing its COVID restrictions moving away from zero COVID – they haven’t said as much but certainly it is moving away from zero COVID – that those things are probably positive,” he said.

“I think the rally can probably continue but in the short-term, the payrolls are the one to watch closely.”

Alan Ruskin, the macro strategist at Deutsche Bank, said if the nonfarm payrolls increased by from 50,000 to 150,000 in November, that would be favourable for bonds and equities and keep the US dollar trading on the backfoot.

Economists polled by Reuters expect payrolls likely rose 200,000 in November.

Futures have priced in a 78% chance of a rise of 50 basis points at the December’s policy meeting, while rates are now expected to peak around 4.75% to 5% by mid next year, compared with 5% to 5.25% previously.

In the bond markets, Treasuries held onto their gains after two straight days of rally. The yields on benchmark 10-year Treasury notes US10YT=RR were largely steady at 3.5303%, compared with its US close of 3.527%.

The two-year yield, which rises with traders’ expectations of higher Fed fund rates, was little changed at 4.2584%, compared with a US close of 4.254%.

The US dollar on Friday hovered around its three-month low against a basket of major currencies and was set for a 1.2% weekly drop.

The Euro hit a fresh five-month high at $1.0539 while the Japanese yen also scaled a new three-month high against the US dollar.

The Aussie dollar dipped slightly to $0.6796, after blowing past major resistance at 68 cents in the previous session, on Fed pivot hopes and China easing its zero-COVID policy.

In the oil market, prices eased ahead of the OPEC’s meeting over the weekend.

US crude oil futures CLc1 fell 0.33% to around $81.02 per barrel, after surging to a two-week high of $83.34 in the previous session on a softer dollar.

Brent crude futures LCOc1 eased 0.26% to $86.61 per barrel.

Gold was slightly lower. Spot gold was traded at $1799.44 per ounce.



Source link

Tags: aheadAsianDatadollarLossesNursesPayrollssharestentative
Previous Post

Blackstone’s $69 billion REIT curbs redemptions in blow to property empire By Reuters

Next Post

2022 Pac-12 Championship Game: Where to watch Utah vs. USC

Related Posts

Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

by NDTV Profit Tech
July 11, 2025
0

4. iQOO 13 (Ace Inexperienced): Rs 52,999 (Down From Rs 61,999)Outfitted with a 6,000mAh battery, 6.82-inch FHD display screen, 50MP...

Crude oil futures gain as Trump plans major Russia statement 

Crude oil futures gain as Trump plans major Russia statement 

by Euro Times
July 11, 2025
0

At 9.53 am on Friday, September Brent oil futures have been at $68.79, up by 0.22%, and August crude oil...

US stocks: S&P 500, Nasdaq rise to record highs boosted by Nvidia record valuation, strong Delta forecast

US stocks: S&P 500, Nasdaq rise to record highs boosted by Nvidia record valuation, strong Delta forecast

by Euro Times
July 11, 2025
0

The S&P 500 and the Nasdaq Composite rose modestly to publish file closing highs on Thursday, boosted by an upbeat...

Furniture Insider: Data and Trends for Resellers (2025)

Furniture Insider: Data and Trends for Resellers (2025)

by Andrea Vargas
July 10, 2025
0

The furnishings class is rapidly increasing in each quantity and recognition. Main manufacturers and retailers depend on B-Inventory—the world’s largest...

Saratoga Investment Q1: ROE Beating The BDC Industry Average (NYSE:SAR)

Saratoga Investment Q1: ROE Beating The BDC Industry Average (NYSE:SAR)

by David Johnson
July 10, 2025
0

This text was written byObserveDavid A. Johnson is founder and principal of Endurance Capital Administration, a New Jersey Restricted Legal...

TCS Q1 Results: Profit rises 6%, margins beat estimates; EBIT flat QoQ

TCS Q1 Results: Profit rises 6%, margins beat estimates; EBIT flat QoQ

by zee business
July 10, 2025
0

Tata Consultancy Providers Ltd. (TCS), India’s largest IT companies firm, reported its monetary outcomes for the April–June quarter (Q1FY26) after...

Next Post
2022 Pac-12 Championship Game: Where to watch Utah vs. USC

2022 Pac-12 Championship Game: Where to watch Utah vs. USC

The West Simply Wants War With Russia – Investment Watch

The West Simply Wants War With Russia – Investment Watch

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Corn Sticking Close to Unchanged at Midday

Corn Sticking Close to Unchanged at Midday

July 11, 2025
Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

July 11, 2025
Bangladeshi rap, memes helped oust Hasina — now they’re reshaping politics | Protests

Bangladeshi rap, memes helped oust Hasina — now they’re reshaping politics | Protests

July 11, 2025
Google’s Veo 3 in Gemini Upgraded With Image to Video Generation Capability

Google’s Veo 3 in Gemini Upgraded With Image to Video Generation Capability

July 11, 2025
Remixpoint CEO to Receive Entire Salary in Bitcoin

Remixpoint CEO to Receive Entire Salary in Bitcoin

July 11, 2025
OpenAI Faces IRS Complaint Over Alleged Tax Violations

OpenAI Faces IRS Complaint Over Alleged Tax Violations

July 11, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Corn Sticking Close to Unchanged at Midday

Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In