Asia stocks set for weekly loss as Fed rate angst simmers

Japan’s Nikkei bucked the trend with a 0.25- percent rise, supported by some strong earnings reports.

“Is inflation calming? That’s really the core question for this year,” Barkin said in a podcast on the Richmond Fed’s website, adding that he felt the decline so far had been “distorted” by some falling goods prices.“Where is the pain trade? I’d argue the market would be more surprised by an upside surprise than a downside surprise” for the U.S. inflation numbers, Chris Weston, head of research at Pepperstone, wrote in a client note.

“Powell maintained a relatively dovish tone, and markets took that as a green light to rally, but pretty much 24 hours later we got a stream of extremely hawkish Fed speak,” said Tony Sycamore, a strategist at IG. The U.S. dollar index, which measures the greenback against six peers including the euro and yen, ticked up slightly to 103.27, sticking to the middle of its range this week. It touched 103.96 on Tuesday for the first time since Jan. 6 as well.

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Asia stocks head for second weekly loss as Fed rate worries flare - BusinessWorld OnlineTOKYO – Asia-Pacific stocks fell on Friday, slumping toward a second weekly loss as investors fretted about the potential for further Federal Reserve tightening and the effect on the US economy. US short-term Treasury yields held near a one-month high, helping the dollar tick up against major peers, after Richmond Fed President Thomas Barkin overnight […]
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