Updates prices as of 0945 GMT, adds quote in paragraph 18-19

By Nell Mackenzie and Stella Qiu

LONDON/SYDNEY, Nov 15 (Reuters) -The U.S. dollar was poised for a big weekly gain on Friday, towering near one-year highs as a hawkish turn from the Federal Reserve chief sent short-term Treasury yields higher, leaving equities inthe red.

Asian shares looked to end a brutal week on a steadier note, helped by Chinese data showingretail sales in the world's second-biggest economy beat forecasts in October in a welcome sign for consumer spending, although other indicators missed.

Overnight, Fed Chair Jerome Powell said there was no need to rush rate cuts with the economy still growing.

Fed fund futures 0#FF: slumped, with December off 7 ticks and just 71 basis points of rate cuts implied by the end of2025. A rate cut next month is no longer a high probability event, with just 61% priced in, down from 82.5% in the prior session.

Goldman Sachs now sees a greater risk that the Fed could slow the pace of easing sooner, possibly as soon as the December or January meetings, while JPMorgan still tips the Fed to cut in December and a slow-down after.

"After the sugar hit of Trump’s election and its subsequent impacts on expectations for company profits, the market’s enthusiasm is being watered-down by greater interest rate uncertainty, especially going into next year," said Kyle Rodda, a senior analyst at Capital.com.

Nasdaq futures NQc1 fell 0.9% while S&P 500 futures ESc1 eased 0.6%.

A fall in healthcare stocks ledmajor European stock indexes lower on Friday, with vaccine markers hit particularly hard after Trump nominated Robert F. KennedyJr. to lead the top U.S. health body.

Overall, the healthcare subsector .SXDP is underperforming, down 2%, compared to a 0.7% drop for the broader STOXX 600 .STOXX which last traded down 0.4%.

MSCI's broadest index of shares .MIAPJ0000PUS steadied but was still down 1.34% for the week.

Japan's benchmark Nikkei average .N225 closed up 0.28% at 38,642.91 on Friday, drivenby a pull back in the yen, which boosted the outlook for Japanese exporters.

The dollar has gainedfor five days on the yen, and was upanother 0.6%to 155.27 JPY=EBS, thehighest level since July.

But yen bears were on guard as Japan's finance ministry kept up its warnings of government action against excessive currency moves. The Bankof Japan also announced Governor Kazuo Ueda will deliver a speech on Monday.

Chinese shares trimmed earlier losses as official data showed retail sales rose by a better-than-expected 4.8% in October, but growth in industrial output missed forecasts and declines in property investment deepened.

China's blue chipsclosed down 0.2%.

On the U.S. policy front, even before Powell spoke, producer price data showed the core gauge topped expectations.

Short-term Treasury yields remained elevated on Friday. The two-year yields US2YT=RR held at 4.358%, having jumped 6 basis points overnight to close at 4.357%.

"Markets are taking on board Powell and Bailey's speeches last night," James Rossiter, head of global macro strategy at TD Securities told Reuters, referring to Bank of England Governor Andrew Bailey's annual speech atMansion House.

While both signalled little change in December, Powell hinted the U.S. would cut rates soon while Bailey "lay the ground for more cuts," added Rossiter.

That lifted the dollar across the board. The euro has been hit especially hard this week,as expectations for more aggressive policy easing in Europe further undermined the single currency already trading at one-year lows.

The dollar is set for a big weekly gain of 1.7% againstits major peers. FRX/

The euro EUR=EBS was up 0.35% on the day at $1.056625, but was set for a weekly loss of 1.4%.

Markets are, however, more dovish on the ECB and see a decent 36% chance it could step up its easing in December with a half-point move to guard against growth risks. They are also wagering that the ECB will have to cut at each meeting until mid next year. 0#EURIRPR

The lofty dollar has sentgold prices XAU= down 4.4% this week to $2,565, bringing the monthly loss so far to a sizeable 6.5%.

Brent crude futures LCOc1fell 90 cents to $71.66, on the prospect of U.S. supply rising under Trump's energy policies.

Reporting by Stella Qiu
Editing by Shri Navaratnam and Kim Coghill

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