Most EM currencies slip as dollar steadies
Bank of Israel rate decision at 1300 GMT
India's Nifty 50 at record highs
EM stocks index flat, FX off 0.1%
By Shashwat Chauhan
Aug 28 (Reuters) -Most emerging market currencies edged lower on Wednesday as the dollar firmed, with the market focused on economic data due later this week to gauge the global monetary policy path.
MSCI's emerging market currencies index .MIEM00000CUS was down 0.1% at 0820 GMT, while stocks .MSCIEF were flat.
China's yuan CNY=CFXS edged 0.04% lower to 7.1267 per dollar, down for the third straight session as the greenback firmed. The currency CNY= was flat in offshore trading.
The dollar index =USD, which measures the U.S. currency against a basket of six global peers, was up 0.2%, though pinned at its lowest level of the year.
EM currencies were boosted last week as the dollar sagged on dovish comments by U.S. Federal Reserve Chair Jerome Powell, with the focus now on the size of an interest rate cut.
The Fed's preferred inflation measure - the personal consumption expenditures (PCE) index - due Friday, could offer hints on the size of a potential rate cut in September.
"There is probably some room for a small rebound in the dollar as the effect of Powell's Jackson Hole speech wears off and risk sentiment softens," said Francesco Pesole, an FX strategist at ING.
"And while Powell's explicit rate cut guidance has some significance, investors had fully priced in easing well before Jackson Hole and the negative USD reaction to the speech looked a bit overdone from the onset."
Israel's shekel ILS= appreciated 0.3% against the dollar ahead of the Bank of Israel's (BoI) interest rate decision, with consensus tilted towards keeping short-term interest rates unchanged for a fifth straight meeting.
Economists remain uncertain over the timing of a rate cut due to rising price pressures and the Israel-Hamas war, a Reuters poll showed.
An all-out military conflict with Hezbollah or Iran could have significant "credit consequences" for Israeli debt issuers, credit ratings agency Moody's said on Tuesday.
South Africa's rand ZAR=D3 slipped 0.2%, while the local stock index .JTOPI was flat.
Global equities were muted, with focus squarely on Nvidia's NVDA.O quarterly results due later in the day.
Equities in emerging Europe were mixed, with the Turkish benchmark .XU100 outpacing peers with an 0.5% rise, while Poland .WIG20 lagged with a 0.5% decline.
In Asia, the South Korean won KRW= led losses with a 0.7% fall, while the Thai baht THB= weakened 0.2%.
India's NSE Nifty 50 stock index .NSEI touched a record high on Wednesday, while Chinese shares .SSEC, .CSI300 closed slightly lower.
HIGHLIGHTS:
** IMF approves new credit line for Chile worth $13.8 bln
** Turkish inflation seen sliding to 52.2% in August on base effect - Poll
For TOP NEWS across emerging markets nTOPEMRG
For CENTRAL EUROPE market report, see CEE/
For TURKISH market report, see .IS
For RUSSIAN market report, see RU/RUB
For GRAPHIC on emerging market FX performance in 2024 http://tmsnrt.rs/2egbfVh
For GRAPHIC on MSCI emerging index performance in 2024 https://tmsnrt.rs/2OusNdX
Reporting by Shashwat Chauhan in Bengaluru; Editing by Alexander Smith
Activos relacionados
Últimas noticias
Descargo de responsabilidades: Cada una de las entidades de XM Group proporciona un servicio de solo ejecución y acceso a nuestra plataforma de trading online, permitiendo a una persona ver o usar el contenido disponible en o a través del sitio web, sin intención de cambiarlo ni ampliarlo. Dicho acceso y uso están sujetos en todo momento a: (i) Términos y Condiciones; (ii) Advertencias de riesgo; y (iii) Descargo completo de responsabilidades. Por lo tanto, dicho contenido se proporciona exclusivamente como información general. En particular, por favor tenga en cuenta que, los contenidos de nuestra plataforma de trading online no son ni solicitud ni una oferta para entrar a realizar transacciones en los mercados financieros. Operar en cualquier mercado financiero implica un nivel de riesgo significativo para su capital.
Todo el material publicado en nuestra plataforma de trading online tiene únicamente fines educativos/informativos y no contiene –y no debe considerarse que contenga– asesoramiento ni recomendaciones financieras, tributarias o de inversión, ni un registro de nuestros precios de trading, ni una oferta ni solicitud de transacción con instrumentos financieros ni promociones financieras no solicitadas.
Cualquier contenido de terceros, así como el contenido preparado por XM, como por ejemplo opiniones, noticias, investigaciones, análisis, precios, otras informaciones o enlaces a sitios de terceros que figuran en este sitio web se proporcionan “tal cual”, como comentarios generales del mercado y no constituyen un asesoramiento en materia de inversión. En la medida en que cualquier contenido se interprete como investigación de inversión, usted debe tener en cuenta y aceptar que dicho contenido no fue concebido ni elaborado de acuerdo con los requisitos legales diseñados para promover la independencia en materia de investigación de inversiones y, por tanto, se considera como una comunicación comercial en virtud de las leyes y regulaciones pertinentes. Por favor, asegúrese de haber leído y comprendido nuestro Aviso sobre investigación de inversión no independiente y advertencia de riesgo en relación con la información anterior, al que se puede acceder aquí.
