Premarket: Global stocks cling to gains, yen on intervention watch

Global shares steadied on Monday ahead of U.S. price data that investors are banking on to show a renewed moderation in inflation, while markets were on alert for Japanese intervention as the dollar tested the 160-yen barrier.

Shares in Boeing could face pressure after Reuters reported that U.S. prosecutors are recommending criminal charges be brought against the aircraft maker. Japan’s top currency official was out early to voice disapproval with the yen’s latest drop which saw the dollar reach as high as 159.94. “Fresh cyclical highs for the dollar versus the yen overnight, further intervention jawboning from Japan’s FX supremo Kanda and continued pressure on the yuan underline the pain being felt in Asia and EM more broadly from the Fed’s high for longer stance, and will probably revive ‘currency wars’ chatter,” Marc Ostwald, chief global economist at ADM Investor Services.Even the euro was testing recent highs at 170.87 yen , despite being saddled with a round of soft manufacturing surveys .

France’s far-right National Rally party and its allies were seen leading the first round of the country’s elections with 35.5% of the vote, according to a poll published on Sunday. “Note that low PCE deflator outcomes are needed to keep the y/y rate from rising through the course of this year given the string of low prints in the second half of 2023,” cautioned analysts at NAB.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Premarket: Global stocks steady amid investor confidence on U.S. rate cutsPound treads cautiously ahead of BoE meeting
Bron: globeandmail - 🏆 5. / 92 Lees verder »

Premarket: Global stocks boosted by Nvidia rallyU.S. markets are closed on Wednesday, which will likely result in muted trading throughout the day
Bron: globeandmail - 🏆 5. / 92 Lees verder »

Premarket: Global shares stable as political turmoil saps market moodInvestors look for direction from a string of central bank meetings in Europe this week as well as fresh U.S. economic data
Bron: globeandmail - 🏆 5. / 92 Lees verder »

Premarket: Global stocks retreat after record highsBond market borrowing costs and the U.S. dollar rose after the Fed nudged back rate cut expectations
Bron: globeandmail - 🏆 5. / 92 Lees verder »

Premarket: Global stocks near all-time highs ahead of expected ECB rate cutBut what the European central bank does after that remains subject to much debate
Bron: globeandmail - 🏆 5. / 92 Lees verder »

Premarket: Global stocks wilt after U.S. bond yield jump as rate cut doubts resurfaceU.S. yields climbed after consumer confidence data came in stronger than expected and Fed’s Neel Kashkari said further rate hikes were still a possibility
Bron: globeandmail - 🏆 5. / 92 Lees verder »