Asia stocks hit 2-week high as Fed talk turns dovish

  • 📰 Investingcom
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 53%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Asia stocks hit 2-week high as Fed talk turns dovish

© Reuters. FILE PHOTO: Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo

The remark follows several Fed officials noting that recent rises in longer-term yields may help do the work of tightening financial conditions and crimping inflation, leaving the central bank with less to do in terms of short-term rate levels. On Wednesday the Australian and New Zealand dollars hit their highest levels on the dollar since the end of September, while sterling hit a three-week peak. The euro held at $1.0607, near Tuesday's two-week high."Signs underlying U.S. inflation is moderating could reinforce the more watchful tone from U.S. Fed members about future policy, exerting more pressure on the dollar," said Peter Dragicevich, strategist at cross-border payments firm Corpay.

"Europe has higher than usual gas stockpiles for this time of year, as well as lower than normal gas demand, but these buffers still leave Europe exposed to a colder than usual winter and LNG imports in coming months," said CBA analyst Vivek Dhar.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 450. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow up despite Israel-Hamas war as Fed members signal cautionStock Market Today: Dow up despite Israel-Hamas war as Fed members signal caution
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: Dow closes higher as Fed speakers fuel rate pause betsStock Market Today: Dow closes higher as Fed speakers fuel rate pause bets
Source: Investingcom - 🏆 450. / 53 Read more »