Stocks, currencies rise with focus on US data; Poland GDP beats estimates
Updated at 0850 GMT
Polish economic growth beats forecasts
Russian rouble continues to weaken
Thai court dismisses PM Srettha over cabinet appointment
Foreign investors buy net $7.91 bln of Asian bonds in July
By Lisa Pauline Mattackal
Aug 14 (Reuters) -Most emerging market currencies and stock indexes rose on Wednesday ahead of key U.S. inflation data, with hopes that easing price pressures would prompt bigger interest rate cuts from the Federal Reserve and relieve pressure on risk assets.
Data on Tuesday showed U.S. producer prices rose less than expected in July, lifting hopes that consumer price data, due later in the day, would also show moderating price pressures.
MSCI's index of emerging market stocks .MSCIEF and the broader EM currency index .MIEM00000CUS advanced 0.6% and 0.4%, respectively. The currency index is at its highest since April 2022.
"Most interesting for international markets is, of course, U.S. inflation," said Jens Magnusson, chief economist at SEB.
"The impression is that the Fed is becoming increasingly satisfied with wage and inflation developments ... we now believe that the Fed will cut interest rates by 100 basis points this year."
As worries increased about an economic slowdown in the U.S. affecting the global economy, markets have upped bets on the chance of a 50-basis-point rate cut from the Federal Reserve at its September meeting, now seeing a nearly 53% chance, according to CME's FedWatch.
Meanwhile, Poland's second-quarter gross domestic product (GDP) rose 3.2% on an annual basis, beating expectations, while inflation accelerated in July to 4.2% year-on-year, and from 2.6% in June.
However, the Polish zloty EURPLN= slipped 0.1% against the euro, as the common currency rose. FRX/
Russia's rouble RUB= continued its slide, falling to 91.7 per dollar, according to LSEG data, weighed by continuing escalation following Ukraine's biggest attack on the Russian territory since the start of the war.
However, the rouble picked off its lowest levels since October touched on Tuesday.
A stronger euro also weighed on central and eastern European currencies, with Hungary's forint EURHUF= retreating 0.2% after four straight sessions of gains.
Romania's leu EURRON= was flat versus the euro after a flash GDP estimate for the second quarter came in at 0.8%, well below forecasts.
Israeli stocks .TA125 gained 1% as trade resumed after a market holiday, despite heightened concerns over an escalating conflict in the region.
Stocks in Prague .PX, Warsaw .WIG20 and Istanbul .XU100 gained between 0.1% and 0.5%.
In Asia, the Thai baht THB=TH edged 0.1% higher against the dollar, while the country's main stock index .SETI fell nearly 1%. Thailand's Constitutional Court dismissed Prime Minister Srettha Thavisin for appointing to his cabinet a former lawyer who served jail time, raising the spectre of more political upheaval and a reset of the governing alliance.
Data showed overseas investors purchased a net $7.91 billion worth of bonds from emerging Asian markets including Indonesia, India and Malaysia.
HIGHLIGHTS:
** Chinese bonds rise after PBOC-backed media says risk warnings are working
** India's July wholesale prices rise 2.04% year-on-year
** Shunning home markets, South Korean retailers pile-up on US stocks
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
Reporting by Lisa Mattackal in Bengaluru; Editing by Sherry Jacob-Phillips
免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。