Stocks muted, gold at new peak as markets weigh Fed cut timing

TOKYO - Asian equities were in a subdued mood on Friday as investors pondered the path for Federal Reserve interest rate cuts amid a murky U.S. inflation outlook.

The dollar hung near a five-month high following a nearly 1% gain this week against a basket of major peers. Markets now expect fewer than two quarter point reductions to the Fed funds rate this year, below the three cuts Fed officials had pencilled in last month, after rushing to trim easing bets following Wednesday's CPI shock.

Tech shares led the way, drawing inspiration from a rally in U.S. peers overnight. Gains for the index would have been even bigger but for the steep slide in shares of heavily weighted Fast Retailing, owner of the Uniqlo chain, following disappointing earnings.slipped 0.39% and Singapore's Straits Times Index was off 0.12%. Central banks in both countries opted to keep policy unchanged on Friday.MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.

The climb in yields supported the dollar as it pushed to a 34-year high of 153.32 yen on Thursday. It last changed hands at 153.105 yen, spurring fresh intervention warnings from Japan's finance minister., which measures the currency against the yen, euro and four other peers, traded at 105.26, after reaching the highest since Nov. 14 at 105.53 overnight. It has jumped 0.95% this week.

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.

US stocks rebound after recent losses; Fed Governor Waller set to speakUS stocks rebound after recent losses; Fed Governor Waller set to speak
Source: Investingcom - 🏆 450. / 53 Read more »

Equities Q2 Fundamental Outlook: AI Euphoria, US Election and the Fed to Drive US StocksUS stocks enjoyed a broad rally in Q1 and the positive market sentiment looks likely to spill over into Q2. The prospect of rate cuts and the growing AI drive supports US stocks
Source: DailyFX - 🏆 305. / 63 Read more »

European stocks set for lower open ahead of Fed rate decisionEuropean markets are heading for a lower open Wednesday as investors await the latest monetary policy decision from the U.S. Federal Reserve.
Source: NBCLA - 🏆 319. / 59 Read more »

Tech stocks slide as pivotal Nvidia conference and Fed meeting come into focusEvery weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
Source: CNBC - 🏆 12. / 72 Read more »

European stocks set to open slightly higher as markets look ahead to Fed meetingEuropean markets are heading for a lackluster start to the new trading week, with global investors looking ahead the U.S. Federal Reserve’s next meeting.
Source: NBCLA - 🏆 319. / 59 Read more »