Dollar Down, Signs of Slowdown in Chinese Economic Recovery By Investing.com - Investing.com
Dollar Down, Signs of Slowdown in Chinese Economic Recovery By Investing.com - Investing.com |
- Dollar Down, Signs of Slowdown in Chinese Economic Recovery By Investing.com - Investing.com
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| Dollar Down, Signs of Slowdown in Chinese Economic Recovery By Investing.com - Investing.com Posted: 30 May 2021 10:24 PM PDT  © Reuters.By Gina Lee Investing.com – The dollar inched down, but traded near a two-month high against the yen, on Monday morning in Asia. Investors digested and strong inflation data from the U.S., while also expecting the U.S. Federal Reserve to start tapering its asset purchases eventually. The that tracks the greenback against a basket of other currencies inched down 0.01% to 89.987 by 13:15 AM ET (5:!5 AM GMT). The pair inched down 0.10% to 6.3612. The decreased after Sheng Songcheng, former director of People's Bank of China statistics department, said on Sunday the Chinese currency's rise will not persist. The central bank separately added that the currency may depreciate in the future on the same day. The pair edged down 0.14% to 109.66. Japanese data released earlier in the day said the for April increased by 2.5% month-on-month, surpassing March's 1.7% but below 4.1% in forecasts prepared by investing.com. The data also said that also increased 12.0% year-on-year, but below 15.3% in forecasts prepared by Investing.com, in April. The pair edged up 0.19% to 0.7728, with the due to hand down its policy decision on Tuesday. The pair edged up 0.18% to 0.7260. The pair inched up 0.06% to 1.4196. Both the U.S. and the U.K. markets are closed amid holidays on Monday. Data released earlier in the day said that China's was 51.0 and the was 55 in May, both remaining above the 50-mark indicating growth. However, the manufacturing PMI was slightly below 51.1 in forecasts by Investing.com and April's reading. In the U.S., data released on Friday said the increased 3.1% year-on-year in April, above the 2.9% in forecasts prepared by Investing.com and 1.9% during the previous session. The index was also above the Fed's 2% target and posted its largest annual gain since 1992 due to the country's recovery from COVID-19 and various supply disruptions. "If we see inflation consistently hitting above 2%, that could put upward pressure on wages. There's risk inflation trending higher than expected," said Masafumi Yamamoto, chief currency strategist at Mizuho Securities, told Reuters. However, investors widely expect that the Fed will keep its current dovish monetary policy for a few more months, possibly until the end of 2021. The 10-year benchmark U.S. Treasuries yield dropped to 1.581%, a second month of declines following a surge earlier in 2021 due to inflation concerns. Meanwhile, key Fed officials, including Fed vice chairman Richard Clarida, have recently said that the Fed may start tapering talks should inflation build up further. Investors now await further U.S. economic data, including and the , due on Friday, to gauge the economic recovery. Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data. Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.  |
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| Japan shares lower at close of trade; Nikkei 225 down 0.99% - Investing.com India Posted: 31 May 2021 12:36 AM PDT  Investing.com – Japan equities were lower at the close on Monday, as losses in the , and sectors propelled shares lower. At the close in Tokyo, the lost 0.99%. The biggest gainers of the session on the were Astellas Pharma Inc. (T: ), which rose 2.10% or 37.0 points to trade at 1797.5 at the close. Advantest Corp. (T: ) added 2.06% or 200.0 points to end at 9890.0 and Yaskawa Electric Corp. (T: ) was up 1.34% or 70.0 points to 5310.0 in late trade. Biggest losers included NTN Corp. (T: ), which lost 4.95% or 16.0 points to trade at 307.0 in late trade. Fukuoka Financial Group, Inc. (T: ) declined 4.71% or 99.0 points to end at 2002.0 and Shinsei Bank, Ltd. (T: ) shed 4.01% or 71.0 points to 1700.0. Declining stocks outnumbered rising ones by 2394 to 1149 and 196 ended unchanged on the Tokyo Stock Exchange. The , which measures the implied volatility of Nikkei 225 options, was unchanged 0% to 19.76. In commodities trading, Crude oil for July delivery was up 1.00% or 0.66 to $66.98 a barrel. Meanwhile, Brent oil for delivery in August rose 0.90% or 0.62 to hit $69.34 a barrel, while the August Gold Futures contract rose 0.18% or 3.35 to trade at $1908.65 a troy ounce. USD/JPY was down 0.10% to 109.70, while EUR/JPY rose 0.01% to 133.81. The US Dollar Index Futures was up 0.02% at 90.007.  |
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