Stocks climb, dollar slips on hopes for Fed easing: Markets wrap

Asian stocks gained while the dollar softened amid bets that the Federal Reserve will cut interest rates this year, with US inflation data due this week likely to signal easing price pressure.

While economists are now expecting fewer Fed cuts than they did previously, “the markets have said – doesn’t matter – we’ve got stronger profit numbers,” Shane Oliver of AMP Capital Markets told Bloomberg Television an interview. “That’s kept markets going.” The ECB is widely expected to cut rates for the first time since concluding an unprecedented tightening campaign at its June meeting. But US officials are progressing toward a pivot at a slower pace, with Fed Chair Jerome Powell stressing the need for more evidence that inflation is on a sustained path to their 2% goal before cutting the policy benchmark.

“Risk sentiment is upbeat after softer inflation expectations” thanks to US data, said Charu Chanana of Saxo Capital Markets.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Stocks, dollar decline after Fed holds rates steadyA gauge of global stocks fell on Wednesday while the dollar weakened against a basket of peers after the Federal Reserve left interest rates unchanged and indicated it is still leaning toward eventual rate cuts.
Source: ReutersAfrica - 🏆 31. / 53 Read more »

Asia stocks rise as Fed tamps down hike fears; yen leapsAsian stocks and U.S. futures rose on Thursday after the Federal Reserve downplayed risks of an interest rate hike, while the yen was bumpy after another burst of suspected intervention from Japan.
Source: ReutersAfrica - 🏆 31. / 53 Read more »