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HomeEconomyFed hike, Bank of Japan, interest rates, currencies

Fed hike, Bank of Japan, interest rates, currencies

Oil prices rise after Fed hikes, demand concerns linger

Oil prices rose after the US Federal Reserve (Fed) raised interest rates three times in a row.

Reuters also Reported Chinese refiner The country expects to lift export quotas on up to 15 million tonnes worth of petroleum products by the end of the year, according to people familiar with the matter.

Brent Crude Oil Futures It rose 0.45% to $90.24 per barrel. US West Texas Intermediate It was up 0.45% to $83.30 per barrel.

— Li Yingxiang

Fed rate hike likely to weigh on Asian risk assets, JP Morgan says

Risk assets in Asia, especially export-oriented companies, will continue to come under pressure in the near term as the Fed raises interest rates, according to Tai Hui, chief Asia-Pacific market strategist at JP Morgan Asset Management.

Thai added that while the US dollar is likely to continue to appreciate, tightening monetary policy at most Asian central banks, with the exception of China and Japan, could limit the losses in Asian currencies.

of US dollar indexTrack US dollars against a basket of peers.

— Abigail Ng

Bank of Japan stays strong, maintains yield curve control policy – ​​yen falls above 145

The Bank of Japan left interest rates unchanged, according to a statement posted on its website. Reuters poll economist.

Immediately after the decision, the Japanese yen fell to 145 yen against the dollar.

In a statement, the Bank of Japan said, “The Japanese economy is picking up as public health is protected from the novel coronavirus and economic activities are resuming, despite being affected by rising commodity prices and other factors.”

Lee Ji-hye

CNBC Pro: This fund manager is beating the market.this is what he’s betting

The stock market is down, but Plurimi Wealth’s Patrick Armstrong-managed fund continues to generate positive returns. A fund manager has a number of short his positions to accommodate market volatility.

Pro subscribers can read more here.

— Xavier Ong

Asian Currencies Fall After 3 Big Fed Rate Hikes in a Row

After the US Federal Reserve raised interest rates by 75 basis points in a row for the third time, Asia-Pacific currencies fell further.

Chinese onshore Yuan The dollar has fallen above 7.09, hovering near levels not seen since June 2020.

Japanese people Circle South Korea weakened to 144.51, won Against the dollar, it surged above 1,409 to its lowest level since March 2009.

Australian dollar fell to $0.6589.

–Lee Ji Hye

US 2-Year Treasury Yields Gain Inches Toward 2007 Highs

British pound falls further, hovering near 37-year low

of british pound It fell further in the Asian morning trade, reaching $1.1217. This is his lowest level since 1985.

The currency has lost ground against the US dollar this year amid growing economic concerns.

analysts are divided Whether the Bank of England will raise rates by 50 or 75 basis points later today.

The sterling last traded at $1.1223.

— Abigail Ng

CNBC Pro: Morgan Stanley’s Mike Wilson names key attributes he likes in stocks

Morgan Stanley’s Mike Wilson remains on the defensive amid continued market volatility this year. He lists the key attributes he looks for in stocks.

Stocks with this attribute have “rewarded” this year, Wilson said, and the trend is likely to continue until the market becomes more bullish.

Pro subscribers can read more here.

— Xavier Ong

BOJ likely to maintain yield curve control for rest of 2022: DBS

A major adjustment to BOJ policy is likely only after a change in central bank leadership in mid-2023, DBS Group Research said in a report on Tuesday.

However, the BOJ could consider “policy tweaks” such as widening the target band by 10 basis points in response to market pressures, analysts wrote.

“regardless of intervention”, dollar yen It could test the 147.66 last seen in August 1998, adding that it does not rule out a USD/JPY boost above 150 “without a hard landing in the US prompting a rate cut by the Fed.”

— Abigail Ng

Stock futures open lower

US stock futures fell Wednesday night following a volatile session of key averages as traders considered another significant rate hike from the Federal Reserve.

Dow Jones Industrial Average futures fell 16 points, or 0.05%. S&P 500 and Nasdaq 100 futures fell 0.19% and 0.31% respectively.

— Sara Min

Stocks fall, Dow closes 522 points lower in volatile trading session

Stocks rocked on Wednesday but ended deep in the red after the Federal Reserve announced another 75 basis points rate hike.

The Dow Jones Industrial Average fell 522.45 points (1.7%) to close at 30,183.78. The S&P 500 fell 1.71% to 3,789.93 and the Nasdaq Composite fell 1.79% to 11,220.19.

— Samantha Soobin

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