Latest news with #KristinaClifton
The Star
6 days ago
- Business
- The Star
Asian shares start cautiously, dollar edges down
NEW YORK: Asian shares had a cautious open Tuesday (May 27) as investors awaited fresh trade news that may define the appetite for US assets. The MSCI Asia Pacific Index opened flat with marginal declines in Japan and South Korea. The dollar edged down in early Asian trade with a gauge of the greenback's strength hovering near its lowest level in almost two years on weak demand for US assets. The yield on the ten-year US Treasury fell two basis points while yields on Japan's 40-year sovereign slumped ahead of a bond auction. Contracts for the S&P 500 and Nasdaq 100 jumped over one per cent, holding their gains from a Monday holiday, after the European Union agreed to accelerate trade negotiations with the US. Tariff headlines are once again dominating the market and investors are closely watching how President Donald Trump's administration is dealing with Japan and India after talks with China earlier this month boosted optimism. Trade tensions and concerns of US fiscal position has weakened demand for US assets and are showing up the most in the dollar. "Any further tariff news could inject more volatility into currency markets and pull the dollar down,' Kristina Clifton, a senior economist and currency strategist at Commonwealth Bank of Australia wrote in note. Bloomberg's dollar spot index was track for its lowest close since July 2023, while the greenback is at or approaching key levels against a host of currencies including the euro, British pound, yen and Swiss franc. In Japan, yields on Japanese super-long bonds fell ahead of an auction Wednesday that is expected to test demand following a recent sale that sent jitters through global markets. Yields on 40-year and 30-year maturities slid ten basis points in Tokyo on Tuesday, adding to drops in recent days. These moves followed sharp gains in yields to record highs last week. Elsewhere, China's central bank asked its major lenders to raise the share of yuan when facilitating cross-border trade, in its latest push for the use of the currency as the world grapples with the onslaught of tariffs by the US. Trump's plan to bring more factories back to the US has President Xi Jinping's government also considering options to boost production of high-end technological goods. There will be close attention on the nation's electric vehicle sector, after BYD Co. introduced sweeping price cuts. Shares of China's No. 1 selling car brand tumbled 8.6 per cent in Hong Kong on Monday, sending shares of peers Li Auto Inc., Great Wall Motor Co. and Geely Automobile Holdings Ltd. also down amid investor concern about intensifying competition in the sector. A key event this week will be Nvidia Corp.'s results on Wednesday. The chip-making giant is seen as a bellwether for so called growth stocks and the sustainability of the artificial intelligence boom. Its outlook will be crucial given macro risks and tariff uncertainty. Investors are also gearing up for the Federal Reserve's preferred inflation measure, the US personal consumption expenditures price index excluding food and energy, which will be released Friday. The April reading is forecast to rise 0.1 per cent based on consensus expectations. In commodities, oil slipped on Tuesday after fluctuating in the previous session as the market weighed easing trade tensions against the outlook for rising OPEC+ supply. Gold traded steady. - Bloomberg
Time of India
6 days ago
- Business
- Time of India
Asian shares start cautiously, dollar edges down
Asian shares had a cautious open Tuesday as investors awaited fresh trade news that may define the appetite for US assets . The MSCI Asia Pacific Index opened flat with marginal declines in Japan and South Korea. The dollar edged down in early Asian trade with a gauge of the greenback's strength hovering near its lowest level in almost two years on weak demand for US assets. The yield on the 10-year US Treasury fell two basis points while yields on Japan's 40-year sovereign slumped ahead of a bond auction. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Girls Show Their Perfect Figure In These Sport Photos Take At Perfect Time True Edition Undo Contracts for the S&P 500 and Nasdaq 100 jumped over 1%, holding their gains from a Monday holiday, after the European Union agreed to accelerate trade negotiations with the US. Markets were closed in the US for a holiday Monday. Tariff headlines are once again dominating the market and investors are closely watching how President Donald Trump's administration is dealing with Japan and India after talks with China earlier this month boosted optimism. Trade tensions and concerns of US fiscal position has weakened demand for US assets and are showing up the most in the dollar. 'Any further tariff news could inject more volatility into currency markets and pull the dollar down,' Kristina Clifton, a senior economist and currency strategist at Commonwealth Bank of Australia wrote in note. Live Events Bloomberg's dollar spot index was track for its lowest close since July 2023, while the greenback is at or approaching key levels against a host of currencies including the euro, British pound, yen and Swiss franc. In Japan, yields on Japanese super-long bonds fell ahead of an auction Wednesday that is expected to test demand following a recent sale that sent jitters through global markets. Yields on 40-year and 30-year maturities slid 10 basis points in Tokyo on Tuesday, adding to drops in recent days. These moves followed sharp gains in yields to record highs last week. Elsewhere, China's central bank asked its major lenders to raise the share of yuan when facilitating cross-border trade, in its latest push for the use of the currency as the world grapples with the onslaught of tariffs by the US. Trump's plan to bring more factories back to the US has President Xi Jinping's government also considering options to boost production of high-end technological goods. There will be close attention on the nation's electric vehicle sector, after BYD Co. introduced sweeping price cuts. Shares of China's No. 1 selling car brand tumbled 8.6% in Hong Kong on Monday, sending shares of peers Li Auto Inc., Great Wall Motor Co. and Geely Automobile Holdings Ltd. also down amid investor concern about intensifying competition in the sector. A key event this week will be Nvidia Corp. 's results on Wednesday. The chip-making giant is seen as a bellwether for so called growth stocks and the sustainability of the artificial intelligence boom. Its outlook will be crucial given macro risks and tariff uncertainty. Investors are also gearing up for the Federal Reserve's preferred inflation measure, the US personal consumption expenditures price index excluding food and energy, which will be released Friday. The April reading is forecast to rise 0.1% based on consensus expectations. In commodities, oil slipped on Tuesday after fluctuating in the previous session as the market weighed easing trade tensions against the outlook for rising OPEC+ supply. Gold traded steady.
Wall Street Journal
22-05-2025
- Business
- Wall Street Journal
Asian Currencies Consolidate as Traders Assess Risks of Rising U.S. Deficits
0043 GMT — Asian currencies consolidate against the dollar in the early session as traders assess risks of rising U.S. deficits exacerbated by a weak 20-year Treasury auction overnight. 'Concern about impending U.S. tax cuts against the backdrop of already high government debt has pushed up Treasury yields and weighed on USD this week,' CBA's Kristina Clifton says in a research report. However, 'the lack of serious alternatives to the U.S.'s deep and liquid debt market will put a floor under U.S. bonds and the USD in the near term,' the senior economist and senior currency strategist adds. ICE USD Index is steady at 99.56; USD/KRW edges 0.2% higher to 1,377.14; USD/JPY is down 0.2% at 143.38. (
Wall Street Journal
04-04-2025
- Business
- Wall Street Journal
Most Asian Currencies Consolidate Ahead of U.S. Employment Data, Fed Chair's Speech
0047 GMT — Most Asian currencies consolidate against the dollar in early Asian trade ahead of U.S. March employment data and Fed Chair Powell's speech later today. The nonfarm payrolls are likely to show a decent 150,000 increase and unemployment is expected to remain at 4.1%, CBA's Kristina Clifton says in a research report. Also, 'markets will be focused on any comments that Powell makes in regards to the impacts of tariffs on the U.S. economy and inflation,' the senior economist and senior currency strategist says. USD/JPY is little changed at 146.03; USD/SGD is steady at 1.3336; AUD/USD is flat at 0.6330. (
Wall Street Journal
03-04-2025
- Business
- Wall Street Journal
USD Reaction To Trump's Tariffs Limited So Far
2140 GMT — The USD's reaction to the announcement of U.S. reciprocal tariffs has been mixed so far, and is expected to develop further through coming hours as the trading day in Asia gets under way and the policy changes are better understood, currency traders say. The U.S. dollar index is current weaker and trading at around 103.71. The conversation about tariffs isn't at an end, says Kristina Clifton, currency strategist at CBA. Countries may negotiate to have tariffs delayed or lowered, she says. If the tariffs are seen to pose large disruptions to U.S. business or consumers, then Trump may lower the tariffs or simply not collect them, Clifton adds. ( @JamesGlynnWSJ)
