Asian FX, stocks muted on revised Fed rate-cut bets, US vote uncertainty
Updates at 0720 GMT
South Korean won hits 3-month low
U.S. dollar up for four straight weeks
Thai stocks eye worst week in four months
By Aaditya GovindRao and Roushni Nair
Oct 25 (Reuters) -The Philippine peso and Indonesian rupiah led declines among Asian currencies on Friday, extending recent losses on bets the U.S. Federal Reserve will slow rate cuts, while regional stocks were mixed on uncertainty about the U.S. election outcome.
The peso PHP= fell 0.7% to 57.92 per U.S. dollar, a level last seen on Aug. 2, while the rupiah IDR= was down 0.4%, as of 0646 GMT.
The Malaysian ringgit MYR= reversed course to trade 0.2% higher, after edging down 0.1% earlier and on track for fourth straight week of declines, its longest such run in a year.
The dollar index =USD was largely unchanged at 104.04, after reaching a three-month high of 104.57 earlier this week. The index is on track for a 3.6% gain since the week ended Sept. 23, and poised to record its strongest weekly performance since Sept. 30. USD/
The greenback strengthened as investors revised interest rate cut expectations and factored in a potential second Trump presidency, which could bring inflationary policies, slower rate cuts, and pressure on trading partners' currencies.
The market was completely pricing in a cut of at least 25 basis points a month ago, with a 58.2% chance of a 50-bp cut, according to CME's FedWatch Tool.
"As the U.S. elections approach and Trump trades are being implemented, the dollar is likely to remain on the front foot and the U.S. rates are likely to remain elevated, creating a somewhat painful backdrop for EM assets," analysts at Barclays said.
The rupiah has fallen 1.1% this week, set for its worst week since Sept. 30.
However, the reappointment of Sri Mulyani Indrawati as the finance minister in the newly sworn-in President Prabowo Subianto's cabinet - signals policy continuity to investors.
The Thai baht THB=TH has fallen nearly 1.5% this week and slipped as much as 0.5% earlier in the day, before recouping some losses to trade 0.3% lower.
Bank of Thailand Deputy Governor Piti Disyatat told Reuters in an interview that the country's low and well-anchored inflation poses no risk of deflation.
The Korean won KRW=KFTC declined up to 0.6% to its lowest level since July 19. Local media reported South Korea's finance minister had flagged risks to growth forecasts.
Stocks in Bangkok .SETI were up 0.2% but were on track for their worst week since early June, down nearly 1.8%. Singapore equities .STI fell 0.5% and were set for their biggest weekly loss since early August.
HIGHLIGHTS:
** Japan's general election outcome could muddle BOJ plans
** Singapore's September manufacturing output up 9.8%, more than expected
Asian stocks and currencies as at 0646 GMT | ||||||
COUNTRY | FX RIC | FX DAILY % | FX YTD % | INDEX | STOCKS DAILY % | STOCKS YTD % |
Japan | JPY= | -0.07 | -7.15 | .N225 | -0.60 | 13.90 |
China | CNY=CFXS | -0.08 | -0.40 | .SSEC | 0.45 | 10.75 |
India | INR=IN | 0.00 | -1.03 | .NSEI | -1.07 | 11.08 |
Indonesia | IDR= | -0.38 | -1.54 | .JKSE | -0.14 | 5.96 |
Malaysia | MYR= | +0.18 | +5.83 | .KLSE | -0.15 | 12.03 |
Philippines | PHP= | -0.70 | -5.04 | .PSI | 0.26 | 13.22 |
S.Korea | KRW=KFTC | -0.46 | -7.25 | .KS11 | 0.09 | -2.71 |
Singapore | SGD= | -0.15 | -0.05 | .STI | -0.50 | 10.70 |
Taiwan | TWD=TP | +0.02 | -4.19 | .TWII | 0.67 | 30.21 |
Thailand | THB=TH | -0.25 | +1.21 | .SETI | 0.21 | 3.38 |
Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Aaditya Govind Rao and Roushni Nair in Bengaluru; Editing by Sonali Paul and Rashmi Aich
Asset collegati
Ultime news
Disclaimer: le entità di XM Group forniscono servizi di sola esecuzione e accesso al nostro servizio di trading online, che permette all'individuo di visualizzare e/o utilizzare i contenuti disponibili sul sito o attraverso di esso; non ha il proposito di modificare o espandere le proprie funzioni, né le modifica o espande. L'accesso e l'utilizzo sono sempre soggetti a: (i) Termini e condizioni; (ii) Avvertenza sui rischi e (iii) Disclaimer completo. Tali contenuti sono perciò forniti a scopo puramente informativo. Nello specifico, ti preghiamo di considerare che i contenuti del nostro servizio di trading online non rappresentano un sollecito né un'offerta ad operare sui mercati finanziari. Il trading su qualsiasi mercato finanziario comporta un notevole livello di rischio per il tuo capitale.
Tutto il materiale pubblicato sul nostro servizio di trading online è unicamente a scopo educativo e informativo, e non contiene (e non dovrebbe essere considerato come contenente) consigli e raccomandazioni di carattere finanziario, di trading o fiscale, né informazioni riguardanti i nostri prezzi di trading, offerte o solleciti riguardanti transazioni che possano coinvolgere strumenti finanziari, oppure promozioni finanziarie da te non richieste.
Tutti i contenuti di terze parti, oltre ai contenuti offerti da XM, siano essi opinioni, news, ricerca, analisi, prezzi, altre informazioni o link a siti di terzi presenti su questo sito, sono forniti "così com'è", e vanno considerati come commenti generali sui mercati; per questo motivo, non possono essere visti come consigli di investimento. Dato che tutti i contenuti sono intesi come ricerche di investimento, devi considerare e accettare che non sono stati preparati né creati seguendo i requisiti normativi pensati per promuovere l'indipendenza delle ricerche di investimento; per questo motivo, questi contenuti devono essere considerati come comunicazioni di marketing in base alle leggi e normative vigenti. Assicurati di avere letto e compreso pienamente la nostra Notifica sulla ricerca di investimento non indipendente e la nostra Informativa sul rischio riguardante le informazioni sopra citate; tali documenti sono consultabili qui.
