29-03-2024 at 07:36
China 10-Year Yield Hits All-Time Low

China’s 10-year government bond yield fell toward 2.2%, hitting new all-time lows amid bets that China would ease policy further to boost growth, while a weakening yuan pressured domestic yields further. A senior central bank official said recently that the People’s Bank of China has room to further cut banks’ reserve requirement ratio. President Xi Jinping also reportedly told China’s financial regulators that the monetary policy toolkit must include a controversial means of injecting liquidity into the economy. Meanwhile, the PBOC kept its one- and five-year loan prime rates unchanged at 3.45% and 3.95%, respectively, during its March fixing, in line with expectations. The one-year LPR serves as a benchmark for most household and corporate loans, while the five-year LPR guides most property mortgages.

29-03-2024 at 07:30
The Nikkei 225 Index Closes 1.46% Lower

In Tokyo, the Nikkei 225 Index dropped 595 points or 1.46 percent on Thursday. Losses were led by Takara (-2.62%), Mitsui Chemicals (-2.12%) and Nippon Yusen (-1.83%).

29-03-2024 at 06:56
Pakistan Consumer Morale Improves in March

The consumer confidence indicator in Pakistan rose to 33.6 in March 2024, from February’s 5-month low of 31.7. Assessments of both current (30.9 vs 28 in February) and expected (36.4 vs 35.4) economic conditions improved. At the same time, concerns regarding unemployment eased (71.5 vs 72.8), and outlook for better financial conditions of households over the next six months went up (42.5 vs 41.7). However, inflation expectations increased (72.7 vs 72.3), due to declines for food (73.4 vs 74.5), energy (73.5 vs 75.9), and inflation excluding food and energy (73.7 vs 75.3).

29-03-2024 at 06:44
Pakistan Consumer Sentiment Hits 5-Month Low

The consumer confidence indicator in Pakistan fell to 31.7 in February 2024 from 33.1 in the previous month. This marked the lowest reading since September 2023, as decreases were observed for both current (28 vs 30.4 in January) and expected (35.4 vs 35.7) economic conditions. Meanwhile, inflation expectations dropped (72.3 vs 73.3), amid increases for food (74.5 vs 74.3), energy (75.9 vs 74.7), and inflation excluding food and energy (75.3 vs 74.1).

29-03-2024 at 06:15
FX Updates: South Korean Won Increases by 0.29%

Top currency gainers are South Korean Won (0.29%). In addition, there was a slight change on Dollar Index (0.07%), Euro (-0.1%) and Japanese Yen (0.05%).

29-03-2024 at 06:11
Japan Housing Starts Fall More than Estimated

Japan's housing starts declined by 8.2% year-on-year in February 2024, steeper than a 7.5% fall in the prior month and compared with market forecasts of a 5.5% drop. It was the ninth straight month of decrease and the strongest drop since last November, with new dwellings deteriorating further for owned (-11.2% vs -11.0% in January), built-for-sale (-17.7% vs -16.1%), and pre-fabricated (-13.0% vs -9.2%). Meantime, fresh construction starts for rented slowed (1.0% vs 2.7%) while those for two-by-four were sluggish (1.5% vs 11.8%). Simultaneously, new dwellings for issued accelerated strongly (95.4% vs 36.1%).

29-03-2024 at 06:03
Chinese Yuan Remains Under Pressure

The offshore yuan weakened to around 7.26 per dollar, hovering close to its lowest levels in four months amid bets that China would ease policy further to boost growth, while US interest rates could remain at elevated levels for an extended period amid sticky inflation. A senior central bank official said recently that the People’s Bank of China has room to further cut banks’ reserve requirement ratio. President Xi Jinping also reportedly told China’s financial regulators that the monetary policy toolkit must include a controversial means of injecting liquidity into the economy. Meanwhile, state-owned banks attempted to support the yuan by selling dollars in onshore markets. The PBOC has also been setting stronger-than-expected midpoint rates in recent sessions, in a sign of authorities’ discomfort with the yuan’s weakness.

29-03-2024 at 05:57
Asian Markets Rise in Thin Holiday Trade

Asian equity markets rose on Friday as risk sentiment improved, while trading volume is expected to remain thin as most markets in the region were shut for the Good Friday holiday. Investors also assessed mixed economic data in South Korea and Japan, while awaiting a key US inflation reading later in the global day. Shares in Japan, South Korea and China advanced. Meanwhile, markets in Australia, New Zealand, Hong Kong, SIngapore and India are closed.

29-03-2024 at 04:43
Gold Hovers All-Time Highs

Gold held above $2,230 an ounce in holiday-thinned trade on Friday, hovering at all-time highs amid bets that major central banks would shift to interest rate cuts this year, while heightened geopolitical tensions boosted safe-haven demand for bullion. The metal is also on track to advance more than 9% for March. During its last policy meeting, the US Federal Reserve maintained its outlook for three rate cuts this year despite a run of hot inflation data. Markets are betting that the Fed would start rate reductions in June. In Europe, the Swiss National Bank delivered a surprise rate cut at its March meeting, prompting speculation that other major central banks will follow suit. Meanwhile, the Bank of Japan ended its policy of negative rates, but is expected to maintain an accommodative stance for some time. Elsewhere, investors continued to hedge against geopolitical instability in Eastern Europe and the Middle East with gold.

29-03-2024 at 04:16
Dollar Edges Higher Ahead of PCE Inflation Data

The dollar index rose to around 104.6 on Friday, hovering near its highest levels in six weeks as investors braced for a key US inflation reading that could influence the interest rate outlook. However, trading volume is expected to remain thin as US markets were shut for the Good Friday holiday. The latest PCE price index report, which is the Federal Reserve’s preferred inflation gauge, will be scrutinized for clues on whether the recent run of hot inflation data would continue. Earlier this week, Fed Governor Christopher Waller said that the central bank could hold off on cutting rates amid strong inflation data. Markets are currently seeing around a 60% chance of a Fed rate reduction in June, down from about 70% last week.

29-03-2024 at 04:02
Oil Advances for Third Straight Month

WTI crude futures rose 2.24% to settle at $83.17 per barrel on Thursday, advancing for the third consecutive month amid ongoing efforts by the OPEC+ alliance to curb supply, as well as persistent geopolitical risks in Eastern Europe and the Middle East. In early March, OPEC+ agreed to extend voluntary production cuts through the end of the second quarter, and is expected to maintain current output policies when it meets next week. Oil prices were also boosted recently by Ukrainian drone attacks on Russian refineries which affected more than 10% of the country’s oil processing capacity. In the Middle East, the UN Security Council passed a resolution calling for an immediate ceasefire in Gaza, but analysts were doubtful that it would end Houthi attacks on Red Sea shipping that have disrupted supply routes.

29-03-2024 at 03:30
Bonds Update: South Korea 10Y Bond Yield Rises by 4 bps

Government bond yields are trading higher on Friday. Top gainers are South Korea 10Y (4.20bps). Biggest losers are Japan 10Y (-1bps).

29-03-2024 at 03:29
China Stocks Climb for Second Session

The Shanghai Composite rose 0.3% to around 3,020 while the Shenzhen Component edged up 0.1% to 9,352 on Friday, extending gains from the previous session amid hopes that Chinese authorities would step up policy support to boost growth. Chinese legislator Zhao Leji also said on Thursday that the country will open up its economy further to foreign investors, lifting market sentiment. Moreover, President Xi Jinping reportedly told China’s financial regulators that the monetary policy toolkit must include a controversial means of injecting liquidity into the economy. Notable gains were seen from heavyweight firms such as Contemporary Amperex (1.8%), China CSSC Holdings (4.5%) and Petrochina Company (5.8%). Meanwhile, the benchmark indexes are on track to end the month little changed.

29-03-2024 at 03:23
Vietnam Tourist Arrivals Climb 78.6% YoY

International arrivals to Vietnam jumped by 78.6% year-on-year to 1.60 million in March 2024, following a 64.1% rise in the previous month. Visitors from Asia climbed by 89.1%, mainly led by China (408.0%), South Korea (55.1%), Japan (53.4%), and Taiwan (143.1%). In addition, arrivals from America grew by 29.2%, mostly from from the US (29.1%); while those from Europe rose by 64.9%, particularly from Russia (91.2%), the UK (45.2%), France (49.4%), and Germany (46.2%). Further, tourists from Australia gained 38.9%. For the first three months of the year, tourist arrivals surged 72.0% to 4.64 million.

29-03-2024 at 03:22
Vietnam Inflation Rate at 3.97% in March

The annual inflation rate in Vietnam stood at 3.97% in March 2024, from a 12-month high of 3.98% in the previous month. Prices softened mainly for food (4.05% vs 4.23% in February), housing and construction materials (4.87% vs 4.95%), and culture, entertainment & tourism (1.45% vs 1.71%). On the other hand, costs increased for education (10.12% vs 8.55%) and transport (2.68% vs 2.55%). The annual core inflation, which excludes volatile items, slowed to 2.76% from a prior 2.96%. On a monthly basis, consumer prices decreased by 0.23% in March, after a 1.04% rise in February, which was the highest in five months.

29-03-2024 at 03:20
Vietnam Retail Sales Grow the Most in 3 Months

Retail sales in Vietnam rose by 9.2% year-on-year in March 2024, quickening from an 8.5% increase in the previous month. It marked the 28th consecutive month of expansion in retail turnover and the strongest pace since last December, as sales growth accelerated for most components: goods (7.6% vs 7.0% in February), tourism activity (66.1% vs 60.0%), and other services (10.6% vs 6.3%). Concurrently, trade of accommodation & food services slightly moderated (15.8% vs 18.4%). Considering the January to March period, retail trade added 8.2%.

29-03-2024 at 03:17
Vietnam Q1 GDP Growth Eases

Vietnam's GDP expanded 5.66% yoy in Q1 of 2024, moderating from a 6.72% rise in Q3 while marking the 10th straight quarter of economic expansion, a flash figure showed. The slowdown came amid sluggish consumption, muted activity in the manufacturing sector due to subdued external demand, and limited access to bank lending. All sectors grew at softer paces: services (6.12% 7.29% in Q4), industry and construction (6.28% vs 7.35%), and agriculture, forestry, and fishing (2.98% vs 4.13%). The governing Communist Party recently said that Vietnamese President Vo Van Thuong had resigned after about a year in office following an anti-corruption push that has seen several top politicians fired. The government is targeting 6-6.5% growth in 2024. Meantime, the World Bank estimated the economy to advance 5.5% this year while the IMF projected an increase of 5.8%. The economy grew by 5.05% last year, less than the official target of 6.5%.

29-03-2024 at 03:13
Vietnam Industrial Output Recovers

Vietnam's industrial production expanded by 4.1% year-on-year in March 2024, reversing from a downwardly revised 5.8% fall in the prior month as most sectors showed sharp turnarounds: manufacturing (4.6% vs -5.9% in February), electricity and gas supply (9.5% vs -1.5%), and water supply and waste management (4.0% vs -3.6%). At the same time, mining & quarrying activity fell much softer (-7.8% vs -12.2%). Considering the first three months of the year, industrial production surged 21.7%.

29-03-2024 at 03:09
Vietnam Trade Surplus Widens

Vietnam's trade surplus on goods increased to USD 2.93 billion in March 2024 from USD 1.39 billion in the same period a year before, as exports grew more than imports, a flash figure showed. Sales expanded 14.2% from a year earlier to USD 34.01 billion while purchases increased at a softer 9.7% to USD 31.08 billion. From January to March, the trade surplus stood at USD 8.08 billion, far bigger than USD 4.93 billion in the same period last year, with exports and imports rising by 17% and 13.9%, respectively. During the period, shipments of electronics jumped 30% while smartphone exports increased by 10% and garments sales grew 7.9%.

29-03-2024 at 02:45
South Korean Stocks Fall for 2nd Session

The benchmark KOSPI fell 0.2% to around 2750 points in early trade on Friday, extending losses from the previous session, as investors cautiously waiting the key US PCE inflation data later today. On the economic front, South Korea’s industrial production rose to a 6-month high of 3.1% in February, more than forecasts, supported by strong global demand for semiconductors. Meanwhile, February data showed that the country’s retail sales dropped 3.1%, marking the biggest fall since July last year. Finance stocks led the decline, with notable losses from Samsung Life (-3.7%) and Hana Financial (-1.2%). Additionally, shares of blue chip companies LG Energy Solution (-1%) and Hyundai Motors (-1.1%) dropped, while Samsung Electronics (1.2%) and Celltrion (3.7%) increased.

1 2 3 4 5

Live Forex News are published 24 hours from Monday to Friday. They are practically available in real time, and since they are brief financial
information from around the world you can rest assured that you will be keeping track of all the most important news from the Forex and Stocks.