Asian stocks fall, dollar rises as rate cut wagers waver

SINGAPORE - Asian stocks fell on Friday, while the dollar advanced as strong U.S. economic data bolstered the prospect of interest rates staying higher for longer and the Federal Reserve taking its time in cutting rates, keeping investors away from risky assets.

Markets are now fully pricing in a rate cut in December with a cut in September now a coin toss, CME FedWatch tool showed. The changing expectations around U.S. rates has lifted yields, with benchmark U.S. 10-year yield touching a more than one-week peak of 4.498% on Thursday. It was last at 4.463% in early Asian hours on Friday.The dollar has also benefited, with the dollar index, which measures the U.S. currency against a basket of six major peers, up nearly 0.6% on the week to 105.06, on course for its largest one-week rise since mid-April.

"We believe that the Bank of Japan will leave its stance unchanged at its June meeting as they would like to confirm the turnaround in economic growth, particularly in private spending and wage growth, that may be seen in July," said ING economists. Gold prices rose 0.24% to $2334.16 per ounce but are set for a 3.3% decline for the week since late September. 1 Magnificent TSX Dividend Stock Down 9% to Buy and Hold Forever

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: Asian shares are mixed, with China stocks down, after Wall St retreatTOKYO (AP) — Asian shares were trading mixed Thursday, as investor sentiment in Tokyo was boosted by news of soaring Nvidia earnings.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares edge lower after Wall Street sets more recordsHONG KONG (AP) — Asian markets were mostly lower in cautious trading on Wednesday after U.S. stocks hit new record highs. U.S. futures and oil prices slipped...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares mostly decline after Nasdaq ticks to a record highTOKYO (AP) — Asian shares retreated Tuesday, even as most U.S. stock indexes finished higher, especially technology issues like Nvidia. Japan's benchmark...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian stocks advance after Wall Street closes out another winning weekHONG KONG (AP) — Asian stocks advanced Monday after U.S. stock indexes drifted around their records on Friday with the Dow Jones Industrial Average closing...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »