Stocks on tiptoes ahead of US payrolls, dollar creeps higher
ISM, jobs data seen setting size of U.S. rate cut
U.S. dollar, yen gain in cautious Asia session
China banks drag Asia stocks to modest drop
Updates prices
By Tom Westbrook
SINGAPORE, Sept 3 (Reuters) -Asian stocks slipped and investors bought dollars and yen on Tuesday in a drift toward safe-haven assets ahead of a raft of data that may determine how deeply the U.S. will cut interest rates later this month.
The U.S. ISM manufacturing survey due later in the day and particularly jobs data due on Friday will be crucial for whether the Federal Reserve cuts by 25 basis points or 50 on Sept. 18.
Ten-year Treasury yields US10YT=RR were slightly higher at 3.915% and two-year yields hovered at 3.931% as trade resumed in Asia following a U.S. holiday.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS ticked 0.5% lower as falling profits weighed on China's banking sector. .SS Japan's Nikkei .N225 fell 0.3%% and S&P 500 futures ESc1 eased 0.2%.
The yen JPY=EBS rose about 0.5% to 146.24 per dollar, while the dollar rose on the euro, sterling and the Antipodean currencies, reflecting a little less confidence that the Fed may opt for a 50 bp cut later in the month.
"It really boils down to Friday's number," said Raisah Rasid, global market strategist at J.P. Morgan Asset Management in Singapore, with policymakers looking for a cooling labour market to clear the way for rate cuts.
"We don't see any stress or indications that would necessitate a 50 basis point cut ... the question is how long will risk assets continue to rally?"
Economists forecast the ISM survey improving but remaining in contractionary territory at 47.5 in August. On Friday analysts are looking for a rise of 160,000 in non-farm payrolls (NFP) and a dip in the unemployment rate to 4.2%.
"If NFP comes in on target, or close it it, that's probably going to lock in that 25-bps cut and I think because of that we'll probably see some more dollar appreciation," said Nick Twidale, chief market analyst at ATFX Global in Sydney.
The dollar rose about 0.2% to $1.1054 per euro EUR=EBS andrallies in the Australian AUD=D3 and New Zealand NZD=D3 dollars paused for breath, with the Aussie knocked down nearly 0.8% to $0.6740 and the kiwi down 0.7% to $0.6192. AUD/
In Hong Kong, shares in property company New World Development 0017.HK slumped to a two-decade low after the company estimated a $2.6 billion loss for the year to June.
China's banking index .CSI399986 fell 1.8% as four of the country's five largest lenders reported lower second-quarter profit, weighed by the property sector crisis.
Gold XAU= hovered at $2,494 an ounce after hitting a record high above $2,500 in August.
Oil prices have struggled for traction as demand worries weigh against tensions in the Middle East, and Brent crude futures LCOc1 slipped 0.5% to $77.13 a barrel.
World FX rates YTD http://tmsnrt.rs/2egbfVh
Global asset performance http://tmsnrt.rs/2yaDPgn
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Tom Westbrook; Editing by Shri Navaratnam and Kim Coghill
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
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.