Spike In Hiring And Consumer Sentiment Lift Dollar

RTTNews | 336 dni temu

(RTTNews) - The U.S. Dollar recorded modest gains during the week ended December 6 amidst positive surprises in payroll additions and consumer sentiment. The greenback gained against the euro, the Japanese yen, the Canadian Dollar, the Swedish Krona, as well as the Australian Dollar. It however declined against the British pound and the Swiss franc.

The Dollar Index, a measure of the Dollar's strength against a basket of currencies comprising the euro, the British pound, the Japanese yen, the Canadian Dollar, the Swedish Krona, and the Swiss franc, closed trading 0.30 percent higher at 106.06 on December 6 versus 105.74 a week earlier. The week's trading range was much wider, oscillating between the high of 106.73 recorded on Monday and the low of 105.42 recorded on Friday.

Data released early in the week showed a larger-than-expected manufacturing PMI, higher-than-expected job openings and a lower-than-expected level of services PMI, causing the Dollar Index to close at 105.71 on Thursday, a level below the previous Friday's level of 105.74. The Dollar's strength mainly came from jobs data released by the U.S. Bureau of Labor Statistics and preliminary estimates of consumer sentiment published by the University of Michigan on the last day of the week.

Data released on Friday morning showed addition to non-farm payrolls jumping to 227 thousand in November from 36 thousand in the previous month. Markets had expected an addition of 200 thousand only. The unemployment rate edged up to 4.2 percent from 4.1 percent in the previous month in line with expectations. Average hourly earnings were steady despite expectation that it would edge down. The labor force participation rate which was seen rising to 62.7 percent from 62.6 percent in October unexpectedly declined to 62.5 percent.

The uptick in the unemployment rate, albeit on expected lines kept rate cut hopes alive, capping gains for the Dollar. The CME FedWatch tool showed the likelihood of a quarter point rate cut by the Fed in December at 86 percent on Friday versus 62 percent on Monday.

According to the University of Michigan, consumer sentiment for the U.S. increased for a fifth consecutive month to 74 in December from 71.8 in November. The highest level since April also came above forecasts of 73, the preliminary estimates showed.

The U.S. dollar added 0.07 percent against the euro during the week ended December 6 amidst political turmoil in France and Germany as well as strong rate cut expectations from the European Central Bank. From the level of 1.0575 on November 29, the EUR/USD pair slipped to 1.0568 by December 6. The weekly trading ranged between the low of 1.0460 recorded on Monday and the high of 1.0631 touched on Friday. The sterling edged up 0.04 percent against the greenback during the week ended December 6 amidst mixed jobs data from the U.S., decline in PMI readings in the U.K. and firm rate cut hints from the Bank of England. The GBP/USD pair rose to 1.2742 on December 6, from 1.2737 a week earlier. The sterling's weekly trading range was between $1.2616 recorded on Monday and $1.2813 recorded on Friday.

The Australian Dollar plunged 1.86 percent against the greenback during the week ended December 6 that saw updates to GDP from Australia. Data released by the Australian Bureau of Statistics showed the Australian economy growing by 0.3 percent quarter-on-quarter in the third quarter of 2024 versus a 0.2 percent increase in the prior three quarters. The quarterly growth however fell short of market expectations of 0.4 percent and triggered rate cut expectations from the Reserve Bank of Australia. From the level of 0.6510 recorded on November 29, the AUD/USD pair dropped to a four-month low of 0.6389 in a week's time. The pair touched a high of 0.6527 on Monday and a low of 0.6372 on Friday.

The USD/ JPY pair rallied 0.19 percent during the week ended December 6 as it closed at 150.03 versus 149.75 a week earlier. The pair ranged between the low of 148.64 on Tuesday and the high of 151.24 on Wednesday as currency markets priced in the effects of the political turmoil in South Korea, the greenback's strength as well as the probability of a rate hike by the Bank of Japan.

Consumer price inflation data from the U.S. is due on Wednesday. Ahead of the release, the Dollar Index has now dropped to 106.02, from 106.06 on Friday. The ECB is widely expected to ease rates by 25 basis points when it meets next on Thursday. Amidst the anticipation, the EUR/USD pair is hovering near 1.0579 versus 1.0568 on Friday. The GBP/USD pair has increased to 1.2778 from 1.2742 on Friday. Ahead of Reserve Bank of Australia's interest rate decision later in the day, the AUD/USD pair has bounced back to 0.6461 from 0.6389 on Friday. Despite better-than-expected GDP updates from Japan over the weekend, the USD/JPY pair has rallied to 150.86, from 150.03 on Friday.

Taiwan Bourse Expected To Open In The Green On Tuesday

The Taiwan stock market has moved higher in two of three trading days since the end of the two-day losing streak in which it had given up more than 640 points or 2.3 percent. The Taiwan Stock Exchange now sits just beneath the 27,870-point plateau and it's likely to extend its gains on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

RTTNews | 1g 24 minut temu

Japan Overall Bank Lending Climbs 4.1% Annually

Overall bank lending in Japan was up 4.1 percent on year in October, the Bank of Japan said on Tuesday - coming in at 650.798 trillion yen.

RTTNews | 1g 25 minut temu

Japan Has Y4.483 Trillion Current Account Surplus

Japan posted a seasonally adjusted current account surplus of 4.483 trillion yen in September, the Ministry of Finance said on Tuesday - up 191.6 percent on year.

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Renewed Support Anticipated For Singapore Stock Market

The Singapore stock market on Monday snapped the two-day winning streak in which it had climbed more than 75 points or 1.7 percent. The Straits Times Index now sits just beneath the 4,490-point plateau although it's expected to bounce higher again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The STI finished slightly lower following mixed performances from the financial shares, property stocks and industrial issues. For the day, the index slipped 4.11 points or 0.09 percent to finish at 4,488.13 after trading between 4,457.14 and 4,490.55. Among the actives, CapitaLand Ascendas REIT slipped 0.35 percent, while CapitaLand Integrated Commercial Trust added 0.43 percent, DBS Group stumbled 1.29 percent, DFI Retail Group and Yangzijiang Shipbuilding both gained 0.30 percent, Genting Singapore surged 3.36 percent, Hongkong Land shed 0.50 percent, Keppel DC REIT fell 0.42 percent, Keppel Ltd lost 0.49 percent, Mapletree Industrial Trust spiked 0.99 percent, Oversea-Chinese Banking Corporation soared 2.31 percent, SATS rallied 0.86 percent, Seatrium Limited jumped 0.93 percent, SembCorp Industries rose 0.16 percent, Singapore Technologies Engineering plunged 1.33 percent, SingTel slumped 0.65 percent, United Overseas Bank skidded 0.53 percent, Wilmar International advanced 0.61 percent, Yangzijiang Financial plummeted 51.42 percent and CapitaLand Investment, City Developments, Comfort DelGro, Thai Beverage, Mapletree Pan Asia Commercial Trust, Mapletree Logistics Trust, UOL Group and Frasers Centrepoint Trust were unchanged.

RTTNews | 1g 54 minut temu

Win Streak May Continue For Malaysia Stock Market

The Malaysia stock market has moved higher in back-to-back sessions, collecting almost 10 points or 0.7 percent in that span. The Kuala Lumpur Composite Index now sits just beneath the 1,630-point plateau and it's expected to see additional support on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The KLCI finished modestly higher on Monday following gains from the financial shares and telecoms and mixed performances from the plantations and industrials. For the day, the index added 8.25 points or 0.51 percent to finish at 1,627.38 after trading between 1,620.49 and 1,633.52. Among the actives, 99 Speed Mart Retail and CIMB Group both gained 0.66 percent, while AMMB Holdings increased 0.70 percent, Axiata surged 3.85 percent, Celcomdigi shed 0.27 percent, Gamuda advanced 0.79 percent, IHH Healthcare slumped 0.72 percent, IOI Corporation lost 0.25 percent, Kuala Lumpur Kepong perked 0.19 percent, Maxis soared 3.04 percent, Maybank collected 0.30 percent, MISC spiked 2.88 percent, MRDIY declined 1.23 percent, Nestle Malaysia sank 0.36 percent, Petronas Chemicals accelerated 2.82 percent, Petronas Dagangan rallied 1.69 percent, PPB Group added 0.69 percent, Press Metal strengthened 1.11 percent, QL Resources fell 0.24 percent, RHB Bank jumped 1.48 percent, SD Guthrie improved 0.74 percent, Sunway stumbled 1.65 percent, Telekom Malaysia rose 0.55 percent, Tenaga Nasional climbed 0.91 percent, YTL Corporation plunged 2.73 percent, YTL Power retreated 1.28 percent and Petronas Gas, Public Bank and Sime Darby were unchanged.

RTTNews | 2g 24 minut temu

Japan Shares May Extend Monday's Gains

The Japan stock market has moved higher in two of three trading days since the end of the two-day slide in which it had plunged nearly 2,200 points or 4.2 percent. The Nikkei 225 now rests just above the 50,900-point plateau and it may add to its winnings on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The Nikkei finished sharply higher on Monday following gains from the financial shares and technology stocks, while the automobile producers were mixed. For the day, the index jumped 635.39 points or 1.26 percent to finish at 50,911.76 after trading between 50,392.44 and 50,969.50. Among the actives, Nissan Motor accelerated 2.11 percent, while Mazda Motor stumbled 2.06 percent, Toyota Motor rose 0.42 percent, Honda Motor plunged 4.67 percent, Softbank Group spiked 2.56 percent, Mitsubishi UFJ Financial and Mizuho Financial both collected 0.67 percent, Sumitomo Mitsui Financial added 0.65 percent, Mitsubishi Electric gathered 0.33 percent, Sony Group improved 0.59 percent, Panasonic Holdings perked 0.15 percent and Hitachi rallied 2.15 percent. The lead from Wall Street is solid as the major averages opened higher on Monday and largely spent most of the sessions firmly in positive territory.

RTTNews | 2g 39 minut temu

KOSPI May Break Through 4,100-Point Barrier

The South Korea stock market has tracked higher in two of three trading days since the end of the two-day slide in which it had plummeted almost 220 points or 5 percent. The KOSPI sits just beneath the 4,075-point plateau and it's tipped to open in the green again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The KOSPI finished sharply higher on Monday with gains across the board, especially among the financial shares, technology stocks and industrials. For the day, the index surged 119.48 points or 3.02 percent to finish at 4,073.24 after trading between 3,984.24 and 4,092.91. Volume was 334 million shares worth 16.5 trillion won. There were 804 gainers and 98 decliners. Among the actives, Shinhan Financial collected 1.81 percent, while KB Financial spiked 4.28 percent, Hana Financial vaulted 4.57 percent, Samsung Electronics jumped 2.76 percent, Samsung SDI strengthened 2.94 percent, LG Electronics climbed 1.47 percent, SK Hynix rallied 4.48 percent, LG Chem expanded 3.93 percent, Lotte Chemical skyrocketed 7.12 percent, SK Innovation accelerated 3.97 percent, POSCO Holdings improved 1.51 percent, SK Telecom added 0.94 percent, KEPCO soared 4.88 percent, Hyundai Mobis gained 3.62 percent, Hyundai Motor increased 2.46 percent, Kia Motors surged 3.27 percent and Naver was unchanged.

RTTNews | 2g 54 minut temu

Japan Current Account Data Due On Tuesday

Japan will on Tuesday release September figures for current account, highlighting a modest day for Asia-Pacific economic activity. The current account surplus is seen at 2.26 trillion yen, down from 246.35 trillion yen in the previous month.

RTTNews | 3g 24 minut temu

EURUSD	1.15527	GBPUSD	1.31659	AUDUSD	0.65326
USDJPY	154.266	USDCAD	1.40268	USDCHF	0.80567