Premarket: Asian stocks sink, U.S. dollar buoyant after hawkish Powell comments

المملكة العربية السعودية أخبار أخبار

Premarket: Asian stocks sink, U.S. dollar buoyant after hawkish Powell comments
المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين
  • 📰 globeandmail
  • ⏱ Reading Time:
  • 68 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 31%
  • Publisher: 92%

In testimony before Congress Tuesday, the Federal Reserve Chairman raised the possibility of the U.S. central bank returning to large rate hikes to tackle sticky inflation

Asian shares were on track for their worst day in a month on Wednesday after hawkish comments from Federal Reserve Chair Jerome Powell raised the possibility of the U.S. central bank returning to large rate hikes to tackle sticky inflation.

MSCI’s broadest index of Asia-Pacific shares outside Japan was 1.69 per cent lower at 514.71, with the downbeat mood set to spill over to Europe. Europe’s Stoxx 600 share index slipped 0.3 per cent lower and futures markets indicated a steady start on Wall Street after the S&P 500 indexIn early trading, Britain’s FTSE 100 fell 0.28 per cent and France’s CAC 40 slid 0.28 per cent, while Germany’s DAX index rose 0.24 per cent.

“If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes,” he said. “He has given the Fed optionality, but one suspects he would be loath to do so as it is not a good look to change tactics when you’ve only just moved down to 25 basis points increments.”

A closely watched part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes, seen as an indicator of economic expectations, was at -107.3 basis points, its deepest since August 1981, according to Refinitiv data. Such an inversion is seen as a reliable recession indicator.

Citi strategists said even as-expected payrolls and inflation data could keep the chance of a 50-basis-point hike high. “Not following through on a 50 bps increase could then entail an unhelpfully large easing of financial conditions.”

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

globeandmail /  🏆 5. in CA

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Gold price a bit firmer as Powell, U.S. jobs report in focusGold price a bit firmer as Powell, U.S. jobs report in focusSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
اقرأ أكثر »

Gold, silver tread water ahead of Powell, jobs dataGold, silver tread water ahead of Powell, jobs dataSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
اقرأ أكثر »

Price pressure on gold, silver as Powell on deckPrice pressure on gold, silver as Powell on deckSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
اقرأ أكثر »

Jerome Powell: U.S. rate hikes could accelerate if economy stays strong - BNN BloombergJerome Powell: U.S. rate hikes could accelerate if economy stays strong - BNN BloombergThe U.S. Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy and persistently high inflation, Chair Jerome Powell says in prepared testimony to a Senate panel.
اقرأ أكثر »

Fed likely needs to raise rates higher and faster than expected, Jerome Powell tells lawmakersFed likely needs to raise rates higher and faster than expected, Jerome Powell tells lawmakersFederal Reserve will likely need to raise interest rates more than expected in response to strong data, Jerome Powell said. Read more
اقرأ أكثر »

Fed likely needs to raise rates higher and possibly faster, Powell tells U.S. lawmakersFed likely needs to raise rates higher and possibly faster, Powell tells U.S. lawmakersIn prepared remarks, Fed Chair Jerome Powell said the latest economic data ‘have come in stronger than expected,’ suggesting interest rates may need to be raised more than planned
اقرأ أكثر »



Render Time: 2025-02-27 02:27:50