Stocks tiptoe towards US manufacturing, jobs data
By Tom Westbrook
SINGAPORE, Sept 3 (Reuters) -Bond yields drifted higher on Tuesday, while currencies and Asia's stock markets steadied as investors waited on a raft of data to determine how deeply the U.S. can cut interest rates.
Ten-year Treasury yields US10YT=RR were slightly higher at 3.919% and two-year yields rose a basis point to 3.935% as trade resumed in Asia following a U.S. holiday overnight.
Upbeat spending figures on Friday led markets to trim the chance of a half-point easing from the Federal Reserve. The U.S. ISM manufacturing survey due later in the day and particularly jobs data due on Friday will be crucial for the Fed's decision.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS ticked 0.1% lower. Japan's Nikkei .N225 rose 0.7% and S&P 500 futures ESc1 were flat. The dollar has steadied along with U.S. yields as focus turns to Friday.
"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.
"I am not so sure the dollar will take too kindly to a weaker read," said Pepperstone analyst Chris Weston. "A number closer to 50 would likely compel dollar shorts to cover."
On Friday analysts are looking for a rise of 160,000 in jobs and a dip in the unemployment rate to 4.2%.
The dollar was firm at 146.85 yen JPY=EBS and traded at $1.1063 per euro EUR=EBS in the Asia session. Rallies in the Australian AUD=D3 and New Zealand NZD=D3 dollars paused for breath, with the Aussie held just below $0.68. 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.
In Australia, Woolworths shares WOW.AX fell 3% a day after the supermarket operator said it would sell its remaining stake in a chain of liquor shops EDV.AX.
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 tension 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
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.
