Most EM currencies firm in lead-up to US inflation data
PCE data due at 1230 GMT
Chinese yuan, South African rand at over one-year highs
EM stocks up 0.5%, FX adds 0.1%
By Shashwat Chauhan
Aug 30 (Reuters) -Most emerging market currencies were higher on Friday as the dollar weakened ahead of crucial U.S. inflation data that could offer clues on the size of possible interest rate cuts by the Federal Reserve next month.
The Fed's preferred inflation measure - the personal consumption expenditures (PCE) index - is due at 1230 GMT and could offer hints on the size of potential rate cuts.
Analysts anticipate headline inflation to rise 0.2% in the month of July, while 'core' inflation, which excludes volatile components like food and energy, is also expected to rise by the same level.
"We are aligned with the consensus for a 0.2% MoM call, which should keep markets attached to their call for 100 bps of easing by year-end," said Francesco Pesole, FX strategist at ING.
China's yuan CNH= appreciated 0.3% in offshore trading, reaching its highest level in over a year, while stocks .SSEC, .CSI300 closed higher. .SS
In Central Eastern Europe, Poland's zloty EURPLN= gained 0.1% against the euro after preliminary data showed inflation stood at 4.3% on a year-on-year basis in August, compared to analysts' expectations of a 4.2% reading.
Separately, updated statistics office data showed domestic demand fuelled by brisker government expenditure drove the Czech economy's slow recovery in the second quarter.
South Africa's rand ZAR=D3 was up 0.8% against the dollar, hitting its highest level since July 2023, while stocks .JTOPI were muted.
MSCI's index for emerging market stocks .MSCIEF added 0.5% by 0830 GMT, while a gauge for currencies .MIEM00000CUS edged up 0.1%. Both are headed for monthly gains.
Global equities saw sharp declines earlier this month as investors dumped risk assets after a hot July jobs report in the United States fanned worries of a recession in the world's biggest economy.
Those worries have since faded as data throughout the month showed a resilient U.S. consumer, with stocks back above levels seen before the selloff.
Also adding to the volatility was a surprise rate-hike by the Bank of Japan earlier this month, which saw the yen JPY= rise and sharp unwinding of currency "carry" trades, where investors borrow in low-yielding currencies such as the yen to invest in high yielding assets like stocks.
High-yielding EM currencies saw sharp declines, but have now recovered as markets gear up for an interest rate cut by the Fed next month, following Chair Jerome Powell's dovish tilt last week.
Markets in Turkey were shut for a public holiday.
HIGHLIGHTS:
** Russia payment hurdles with China partners intensified in August, sources say
** China's interest rate reform will be 'arduous, long' process
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
Major EM currencies this month https://tmsnrt.rs/4dI4FAa
Reporting by Shashwat Chauhan in Bengaluru
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.
