Stocks and currencies in Asia rose in a relief rally as investors weighed the possible peak of the Federal Reserve’s historic tightening campaign.
“The headwind from higher rate and a higher USD should abate for EM and Asian assets and ease some of the pressures on Asian central banks that have been recently hiking and been focused on currency moves,” said Kerry Craig, a global market strategist at JPMorgan Asset Management. “However, a weaker growth outlook for the US economy suggests weaker demand which may weigh on export growth across the global goods chain.
Powell repeatedly said the committee was moving “carefully,” a wording that often has signaled a low likelihood of any immediate change in policy. He also said risks to the outlook have become more two-sided as the tightening campaign nears its end. Back in Asia, South Korea’s inflation unexpectedly accelerated in October, reinforcing the case for the local central bank to keep its restrictive policy in place for longer. Meantime, Japanese Prime Minister Fumio Kishida announced a larger-than-expected economic stimulus package.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Moneyweb - 🏆 5. / 77 Read more »
Source: ReutersAfrica - 🏆 31. / 53 Read more »
Source: brieflyza - 🏆 10. / 68 Read more »
Source: Moneyweb - 🏆 5. / 77 Read more »