Asia shares firm, euro dogged by French political deadlock
Asian stock markets : https://tmsnrt.rs/2zpUAr4
Euro down a fraction as France heads for hung parliament
Stocks underpinned by hopes for Sept Fed rate cut
Week sees U.S. CPI data, Fed Powell, corporate earnings
Updates prices, adds Chinese stock movements in paragraph 10
By Wayne Cole
SYDNEY, July 8 (Reuters) -Asian stocks inched higher on Monday as investors grew more confident about a September U.S. rate cut, while the euro grappled with political uncertainty as French elections pointed to a hung parliament.
In France, a leftist alliance unexpectedly took top spot ahead of the far right, a major upset that was set to prevent Marine Le Pen's National Rally (RN) from running the government.
The loss of the far right was something of a relief for investors, though they also have concerns the left's plans could unwind many of President Emmanuel Macron's pro-market reforms.
"It will be difficult for France to form a government and as the most likely potential outcome is now some arrangement between parts of the left and Macron," said Holger Schmiedling, chief economist at Berenberg.
"This could mean some reform reversals rather than further reforms. The outcome I would say is less bad than could have been the case. It could have been much worse."
The single currency dipped a fraction in reaction to $1.0828 EUR=EBS, having been as high as $1.0843 on Friday when a soft U.S. jobs report undermined the dollar.
The euro was also down 0.25% on the Swiss franc at 0.9680 francs EURCHF=EBS, but held firm on the yen at 174.00 EURJPY=EBS. The dollar stood at 160.70 yen JPY=EBS, just off its recent top of 161.86.
EUROSTOXX 50 futures STXEc1 and FTSE futures FFIc1 both edged up 0.1%. French 10-year bond futures FOATc1 dipped 23 ticks, or a modest 0.21%.
Equities were supported by hopes a U.S. policy easing was getting closer. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS were up 0.1%, after reaching a two-year top last week.
Japan's Nikkei .N225 firmed 0.2%, to near record highs. Chinese blue chips .CSI300 eased 0.4%, while bond yields rose as the central bank launched new money market operations.
S&P 500 futures ESc1 and Nasdaq futures NQc1 were both down 0.1%. Earnings season kicks off later this week when Citigroup C.N, JP Morgan JPM.N and Well Fargo WFC.N all report.
Investors took Friday's jobs report as adding to the case for a September rate cut from the Federal Reserve, with futures 0#FF: now implying a 77% chance of a move. FEDWATCH
Markets also have 53 basis points of easing priced in for this year, up from around 40 basis points a month ago.
"Three-month payroll growth fell sharply to +177k from +249k as previously reported, driven by 111k of downward revisions," wrote analysts at Goldman Sachs.
"We continue to expect the FOMC to deliver its first cut in September, followed by quarterly cuts to a terminal rate of 3.25-3.5%."
Treasuries rallied on the report, with 10-year yields US10YT=RR down at 4.30% having been as high as 4.4930% early last week.
Fed Chair Jerome Powell will have a chance to offer his outlook when he appears before Congress on Tuesday and Wednesday, while several other Fed officials are speaking this week.
The main economic event will be the U.S. consumer price report on Thursday, where headline inflation is expected to slow to 3.1%, from 3.3%, with the core steady at 3.4%.
German inflation data are out the same day, while China releases consumer prices and trade figures this week.
In commodity markets, gold held near one-month highs at $2,385 an ounce XAU=. GOL/
Oil prices slipped as the market waited to see what impact Hurricane Beryl might have on supplies from the Gulf of Mexico. O/R
Brent LCOc1 eased 14 cents to $86.40 a barrel, while U.S. crude CLc1 fell 29 cents to $82.87 per barrel.
Asia stock markets https://tmsnrt.rs/2zpUAr4
Asia-Pacific valuations https://tmsnrt.rs/2Dr2BQA
Reporting by Wayne Cole; Editing by Sam Holmes and Jacqueline Wong
To read Reuters Markets and Finance news, click on https://www.reuters.com/finance/markets For the state of play of Asian stock markets please click on: 0#.INDEXA
면책조항: XM Group 회사는 체결 전용 서비스와 온라인 거래 플랫폼에 대한 접근을 제공하여, 개인이 웹사이트에서 또는 웹사이트를 통해 이용 가능한 콘텐츠를 보거나 사용할 수 있도록 허용합니다. 이에 대해 변경하거나 확장할 의도는 없습니다. 이러한 접근 및 사용에는 다음 사항이 항상 적용됩니다: (i) 이용 약관, (ii) 위험 경고, (iii) 완전 면책조항. 따라서, 이러한 콘텐츠는 일반적인 정보에 불과합니다. 특히, 온라인 거래 플랫폼의 콘텐츠는 금융 시장에서의 거래에 대한 권유나 제안이 아닙니다. 금융 시장에서의 거래는 자본에 상당한 위험을 수반합니다.
온라인 거래 플랫폼에 공개된 모든 자료는 교육/정보 목적으로만 제공되며, 금융, 투자세 또는 거래 조언 및 권고, 거래 가격 기록, 금융 상품 또는 원치 않는 금융 프로모션의 거래 제안 또는 권유를 포함하지 않으며, 포함해서도 안됩니다.
이 웹사이트에 포함된 모든 의견, 뉴스, 리서치, 분석, 가격, 기타 정보 또는 제3자 사이트에 대한 링크와 같이 XM이 준비하는 콘텐츠 뿐만 아니라, 제3자 콘텐츠는 일반 시장 논평으로서 "현재" 기준으로 제공되며, 투자 조언으로 여겨지지 않습니다. 모든 콘텐츠가 투자 리서치로 해석되는 경우, 투자 리서치의 독립성을 촉진하기 위해 고안된 법적 요건에 따라 콘텐츠가 의도되지 않았으며, 준비되지 않았다는 점을 인지하고 동의해야 합니다. 따라서, 관련 법률 및 규정에 따른 마케팅 커뮤니케이션이라고 간주됩니다. 여기에서 접근할 수 있는 앞서 언급한 정보에 대한 비독립 투자 리서치 및 위험 경고 알림을 읽고, 이해하시기 바랍니다.