A look at the day ahead in Asian markets from Jamie McGeever.
Global trading volumes return to more normal levels on Tuesday as U.S. and UK markets re-open after their one-day holidays, with optimism over aThe dollar on Monday held firm around its strongest level in over two months against a basket of major currencies and a six-month peak against the Chinese yuan, and strengthened to a new six-month high against the Japanese yen.traded weaker than 7.00 per dollar for the eighth straight day, as markets position for another hike in U.S.
The dollar nudged 141 yen before closing slightly lower on the day, with traders' hawkish Fed forecasts relative to the Bank of Japan's policy outlook again keeping dollar bulls on the front foot. If U.S. implied rates and bond yields rise on Tuesday, there is reason to believe the dollar's recent bull run will continue, especially against currencies in Asia where many central banks have signaled their hiking cycles are over.
More detail and clarity around the tentative agreement in Washington to suspend the $31.4 trillion federal debt ceiling should be forthcoming on Tuesday.in both Houses of Congress but leaders on both sides of the aisle say they are confident it will pass. This should boost markets, but they will soon have to face the prospect of Treasury potentially issuing over $1 trillion in bills in the coming months.
But that is for another day. Relief that an unprecedented and probably catastrophic default will be avoided should still be the overriding emotion for now.index rose 1% on Monday to a new 33-year high, while Chinese stocks were mixed and the MSCI Asia ex-Japan and MSCI World indices essentially closed flat.The Asian economic calendar on Tuesday is light, with Japanese unemployment figures the only major release due. The unemployment rate, which jumped to 2.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morning Bid: Relief rally eyed on US debt ceiling dealU.S. and UK markets will be closed, creating potential for outsized market moves.
Read more »
The Asian-American Canon BreakersProudly embracing their role as outsiders, a group of writer-activists set out to create a cultural identity—and a literature—of their own.
Read more »
Global audience demand for streaming Asian movies, series grows with hits like 'Squid Game'Viewership for Asian TV content is growing on streaming services in the U.S., following popular hits like 'Squid Game' and 'Everything Everywhere All At Once.'
Read more »
Asian shares, US futures rise on debt ceiling dealS&P 500 futures rose in early trade while Nasdaq futures firmed. Nikkei surged to a fresh 33-year high.
Read more »
Asian stocks rise, Nikkei at 33-year high on debt ceiling optimism By Investing.com⚠️BREAKING: *ASIAN STOCKS RISE TO START THE WEEK AS U.S. DEFAULT FEARS EASE, NIKKEI JUMPS TO 33-YEAR HIGH
Read more »
Asian markets mostly higher after Biden, McCarthy reach deal to avoid U.S. defaultAsian shares were mostly higher early Monday after President Joe Biden and House Speaker Kevin McCarthy reached a final agreement on a deal to raise the U.S....
Read more »