US EditionAsia markets stumble as hot PPI print reins in Fed rate cut hype
Higher US Producer Price Index data reduced expectations of a large Federal Reserve rate cut, with markets pricing a 92.1% chance of a smaller 25 basis point cut in September.
- Thursday’s PPI was above expectations, causing MSCI's Asia-Pacific index outside Japan to fall 0.3%, dampening Fed rate cut hopes.
- ’The chance of a 50 basis point cut fell to 0% from 5.7%,’ said Tony Sycamore, reflecting reduced market expectations ahead of Jackson Hole next week.
- The dollar index last traded down 0.1% at 98.143, reflecting a retracement after the PPI data release.
- US stock futures were flat in early Asian trading, Nasdaq futures slid 0.1% for a third day, and the CSI 300 traded flat after weaker Chinese data.
- Despite DXY briefly surpassing 98, analysts anticipate hawkish remarks from Fed Chair Jerome Powell at Jackson Hole next week.
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Hot wholesale prices data puts wrinkle in Fed’s rate-cut roadmap - Hawaii Tribune-Herald
A jump in wholesale prices is likely to bolster concerns among Federal Reserve policymakers that rising inflation remains a risk, intensifying debate over the rationale for an interest rate cut next month and leaving the tension between the U.S. central bank and the White House unresolved.
Global Markets — Asia markets recover after hot US price data
SINGAPORE: Stocks in Asia made an uneven recovery as traders assessed the policy options facing the world’s central banks, after an unexpected spike in producer price data in the US renewed inflation concerns. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 percent after a report on Thursday from the Bureau of Labor Statistics which showed the Producer
·Riyadh, Saudi Arabia
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Denver Gazette+2 Reposted by 2 other sources
Asia markets stumble as hot PPI print reins in Fed rate cut hype
By Gregor Stuart Hunter
·Denver, United States
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Total News Sources16
Leaning Left2Leaning Right3Center4Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 22%
C 44%
R 33%
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