Shares fall, dollar strengthens as market watches US inflation data

https://tmsnrt.rs/2zpUAr4Focus on US inflation on signs of slowing Fed hike Dollar firm, crypto-spread concerns Mainland China, Hong Kong stocks hit by surge in COVID cases, European markets stabilizeSYDNEY/LONDON, Nov 10 SUN (Reuters) – The dollar strengthened on Thursday ahead of US inflation data that would affect the Fed’s rate plans after stocks fell slightly, and a possible collapse of a major digital asset exchange shook crypto investors. MSCI’s World Equity Index (.MIWD00000PUS) was down 0.36% on the loss. Asia (.MIAPJ0000PUS), however, remained at a two-month high this week. The UK (.FTSE), France (.FCHI) and Germany (.GDAXI) stock benchmarks traded sideways while traders are cautious ahead of the data US S&P 500 futures rose 0.4%. Due to high inflation, the Fed aggressively raised interest rates this year, and in the process, the dollar strengthened and US Treasuries and stocks around the world plummeted. The end of this process has helped stocks rally in recent weeks. The release of US CPI data closing at 1330 GMT is a major market event as investors seek to position themselves when and at what level. I think US interest rates will peak. The October report expects the October monthly and yearly key figures to slow to 0.5% and 6.5%, respectively. Since there are many signs that inflation is peaking and rolling over, including supply chains, used cars, wages, etc., according to Reuters polls, but not shown in the CPI report, the question is: Is today the day all the indicators finally show up?” Samy Chaar, chief economist at Lombard Odier, said, “Everyone is focusing on that and this will affect not only the December Fed meeting, but also the pricing of the highest policy rate.” Component, its price may go up and send the dollar higher, but a lower-than-expected print could give the U.S. currency back some profit The market is currently pricing with a 54% chance of 50 basis CME’s Fedwatch According to the tool, a 75 basis point increase is still likely at the December Fed meeting: the US dollar strengthened on Thursday, the euro fell 0.6% to $0.9947 and the yen was stable at 146.45 per dollar.. The US dollar was 151.94 yen per dollar in October. , which hit a 32-year high and hit a 20-year high against the euro in September, when the common currency fell to $0.9528. The benchmark 10-year Treasury yield was 4.1%. Republicans are getting close to gaining a majority in the U.S. House of Representatives and control of the Senate is on balance Another factor for China’s COVID SURGE market is a surge in COVID-19 as China reports its southern metropolis, Guangzhou Thousands of boxes China blue-chip stock (.CSI300) fell 0.7% and Hong Kong benchmark (.HSI) fell 1.7% Apple Inc (AAPL.O) supplier and iPhone assembler Foxconn ( 2317.TW) expected sales to stagnate on Thursday: the fourth quarter, the level since late 2020 as the company grapples with COVID-19 containment at its main plant in Zhengzhou Industrial Hub, China, is experiencing a serious liquidity crisis and is on the verge of bankruptcy without more capital. In commodities, oil prices fell slightly after falling about 3% in the previous session on fears of rising Chinese demand and rising US crude inventories. has fallen. U.S. Crude Oil futures fell 0.33% to $92.28 per barrel, while U.S. crude futures were down 0.33% to $85.23 a barrel. Gold has stabilized alongside spot. The price is $1,707.3 per ounce. Reported by Stella Qiu from Sydney and Alun John from London. Edited by Emelia Sithole-Matarise, Kirsten Donovan Our Standard: Thomson Reuters Trust Principle.
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