Asian Currencies Consolidate as Traders Assess U.S.-China Trade Talks
0118 GMT — Asian currencies consolidate against the dollar in the morning session as traders assess the outcome of the weekend's U.S.-China trade talks. While both sides have agreed to further talks, this will probably take many months rather than weeks to negotiate a trade agreement, three members of CBA Global Economic & Markets Research say in a research report. Meanwhile, there's a risk that U.S. April CPI due Tuesday will be stronger than consensus, they say. With the U.S. having raised tariffs on imports from Canada, China and Mexico, some impact on April consumer prices is likely, the members add. USD/KRW edges 0.1% lower to 1,394.60; AUD/USD is 0.1% higher at 0.6425. (ronnie.harui@wsj.com)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBS News
13 minutes ago
- CBS News
Sacramento City Council approves revised $1.6 million city budget
Sacramento city leaders have reached the culmination of a months-long process, voting to pass a revised $1.6 billion city budget and close a $62 million funding gap. In the revised budget, the City of Sacramento says it will not lay off any city employees. Though funding for vacant positions was cut, the mayor says no one is out of a job. "We adopted our budget, which was the number one thing cities must do every year. We had to make some tough decisions but by and large, residents won't see any major impacts in their communities," Mayor Kevin McCarty told CBS Sacramento after the vote. " We didn't adversely cut public safety funding from police and fire. The budget also restores money for youth violence prevention funding. However, ahead of the vote, what we heard in public comment was frustration and doubt from most of the public speakers who said the budget doesn't have enough money for the community or youth. Councilmembers Lisa Kaplan and Mai Vange opposed the revised budget. "I don't think we are doing what we need to do to be readily transparent, implement our values, and show a two-year budget when we know the minute this passes, which I know this will, that we are already $60 million in the hole," Kaplan said ahead of the vote. The mayor added that the council will be back to address a deficit next year, saying that the problems aren't over.
Business Insider
16 minutes ago
- Business Insider
Stock Futures Dip as Investors Await Trade Talk Updates, Inflation Data Looms
U.S. stock futures edged down slightly on Tuesday evening as investors looked ahead to updates from the U.S.-China trade policy talks. They are also bracing for the release of May's Consumer Price Index (CPI) report, due today. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.08%, 0.02%, and 0.03%, respectively, at 8:23 p.m. EST, June 10. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter U.S. and Chinese officials held a second day of trade talks in London on Tuesday. The discussions remain a major focus for investors, with markets still on edge about any surprises related to trade policy. During Tuesday's regular session, the S&P 500 rose nearly 0.6%, marking its third straight day of gains. The Dow Jones climbed 0.3%, while the Nasdaq Composite (NDAQ) closed higher by 0.66%.
Yahoo
19 minutes ago
- Yahoo
Morning Bid: So, it's a framework for a deal, maybe?
(Reuters) -A look at the day ahead in European and global markets from Wayne Cole. So, apparently, they have the concept of a plan for a proposal on a framework for a deal to break the latest U.S.-China trade impasse. Which was only needed because President Trump sent that tweet claiming Beijing had broken the old deal. This deal now needs to be approved by Trump and Chairman Xi, and then implemented. At least the Chinese side thought the talks were "rational", which was a step forward. Details were scant, though the U.S. team did claim that it would resolve China's export restrictions on rare earth minerals and magnets. What Beijing got in return was not yet clear. Neither was it clear whether this truce would last any longer than the last one, which might be why the early market response was less than enthusiastic. U.S. and European stock futures were all down between 0.2% and 0.6%, and Asian shares modestly firmer. There is still the small matter of whether the April 2 levies are actually legal, with a federal appeals court allowing the tariffs to remain in effect while it reviews a lower court decision blocking them. The dollar and Treasuries were little changed as the U.S. CPI looms later in the day and any upside surprise would fan stagflationary fears, to the detriment of both markets. Analysts assume lower energy prices will keep the headline rise to 0.2%, while the core is seen up 0.3%. Attention will be on whether tariffs show up in goods prices, though the full impact is likely to appear from June onwards. Measures of volatility suggest investors really aren't prepared for a high number, so anything in line will be a relief. Treasuries also have a 10-year auction to weather, with the focus on the share taken by indirect bidders which include foreign central banks. The latter took a hefty 71% of the May sale, while primary dealers got just 8.9%. A repeat performance would be warmly welcomed. Key developments that could influence markets on Wednesday: * ECB wage tracker. Appearances by ECB council membersGabriel Makhlouf; Piero Cipollone; Philip Lane and Claudia Buch;policymaker Yiannis Stournaras * British finance minister Rachel Reeves releases spendingreview * U.S. CPI data for May (By Wayne Cole; Editing by Christopher Cushing) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
