{"id":1997127,"date":"2023-08-10T19:36:03","date_gmt":"2023-08-10T23:36:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/marketmind-us-cpi-smile-fades-its-raining-yen\/"},"modified":"2023-08-10T19:38:19","modified_gmt":"2023-08-10T23:38:19","slug":"marketmind-us-cpi-smile-fades-its-raining-yen","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/marketmind-us-cpi-smile-fades-its-raining-yen\/","title":{"rendered":"US CPI smile fades, yen raining down."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmarketmind-us-cpi-smile-fades-its-raining-yen%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1997127&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>Asian Markets: What&#8217;s Next After the Fed&#8217;s Rate-Hiking Campaign?<\/h2>\n<blockquote>\n<p>By Jamie McGeever<\/p>\n<\/blockquote>\n<p>(Reuters) \u2013 A look at the day ahead in\u200d Asian\u2063 markets from Jamie McGeever, financial markets columnist.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Markets are betting \u200bthat the Fed\u2019s most aggressive <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-firm-as-markets-brace-for-another-big-fed-rate-hike\/\" title=\"Dollar firm as markets brace for another big Fed rate hike\">rate-hiking campaign<\/a> in more than 40 years is over. But now what?<\/p>\n<p>Wall Street initially gave a huge thumbs up to U.S.\u2064 inflation data that showed some measures of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/marketmind-us-cpi-smile-fades-its-raining-yen\/\" title=\"US CPI smile fades, yen raining down.\">underlying price pressures cooled significantly<\/a> last month, prompting\u200b rates futures markets to call an end to the Fed\u2019s tightening cycle.<\/p>\n<p>But the early gains of more than 1% evaporated\u2064 as longer-dated Treasury yields started to \u200bclimb again, and the three main indexes closed the day flat to 0.15% higher. Asian markets, therefore, look set to open \u2063on Friday with a more subdued tone.<\/p>\n<p>Investors in Asia will\u2064 also have the yen on their radar \u2013 the Japanese currency slid to a 15-year low against the euro on Thursday and fell towards 145.00 per \u2064dollar,\u2062 around where Japanese authorities intervened heavily last year.<\/p>\n<p>The loss of bullish momentum \u200bon Wall Street on \u200cThursday as the session progressed\u2064 and renewed \u2018bear steepening\u2019 of the U.S. yield curve will unnerve some investors.<\/p>\n<p>The short end of \u2062the bond market was a bit more stable, reflecting \u2064the view that the \u2063Fed is done raising rates. Fed fund futures pricing shows a rate\u2063 hike next month is off the table completely, and only a 20%\u2063 chance of another hike by year-end.<\/p>\n<p>Breakeven inflation rates fell too, generally backing \u200cup that dovish view. But the long end of the Treasury curve sold off pretty aggressively once again, and rising long-term yields will do little to support risk appetite, far less boost it.<\/p>\n<p>Other notable market moves on Thursday\u200d include oil.\u200d WTI and Brent crude closed \u200ddown 1.7% and 1.3%, respectively, meaning U.S. crude futures now may not register a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/european-stocks-fend-of-rate-risks-yen-droops-again\/\" title=\"European stocks fend of rate risks, yen droops again\">seventh straight weekly gain<\/a>, which would mark the best\u200d run since May last year. <\/p>\n<p>Currency traders will \u2062be on Japanese intervention alert\u200d after the yen\u2019s latest slump. The dollar is nudging 145.00 yen, around where the Bank of Japan spent record yen-buying sums late last year as the yen \u2063hurtled to a 33-year low.<\/p>\n<p>Elsewhere in FX, India\u2019s rupee had its best day \u200bin a month on Thursday, moving further away from recent all-time lows on the back\u200c of reported intervention from the central bank. <\/p>\n<p>The\u200c Reserve Bank of India earlier on Thursday held interest rates steady but signaled it will reduce the amount of cash in the banking system to counter inflationary\u200b pressures from high food prices.<\/p>\n<p>Industrial\u200b production data from India on Friday is expected to show \u2064that output in June rose 5.0% year on year, slowing slightly from the 5.2% growth in May. <\/p>\n<h3>Key Developments for Friday:<\/h3>\n<ul>\n<li>Hong Kong GDP (Q2)<\/li>\n<li>India\u2062 industrial production (June)<\/li>\n<li>UK GDP (Q2, prelim)<\/li>\n<\/ul>\n<p>(By Jamie McGeever;\u2063 editing by Deepa Babington)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/marketmind-us-cpi-smile\/attachment\/file-photo-illustration-shows-japanese-yen-and-u-s-dollar-banknotes\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Landon Starbuck<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Bob Bianchi<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Joe Allen<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Dr. Jeff Barke<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>BENGALURU (Reuters) \u2013 South Korea\u2019s \u200bHyundai Motor Group said on Tuesday it plans to launch more electric vehicles under the Hyundai\u200c and\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>BERLIN (Reuters) \u2013 German technology group Robert Bosch \u200dsaid on\u200c Tuesday that it\u2062 will establish a joint venture with TSMC, Infineon and\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>TAIPEI (Reuters) \u2013 Taiwan Semiconductor Manufacturing Co (TSMC) said on Tuesday that its board had approved a \u200b3.5 billion euro ($3.8 billion)\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By\u200b Gwladys Fouche OSLO (Reuters) \u2013 Meta Platforms is asking a court in Norway\u200d to stop\u2064 a fine the Nordic country\u2019s data\u2026\u2063 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Markets believe the Fed&#8217;s intense rate-hiking campaign is finished, but uncertainty remains. Wall Street reacted positively to U.S. inflation data, indicating a potential shift in sentiment. However, the future remains uncertain, and Asian markets await further developments.<\/p>\n","protected":false},"author":66,"featured_media":1997128,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1997127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1997127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1997127"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1997127\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1997128"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1997127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1997127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1997127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}