Asian markets and its peers were experiencing pressures as investors waited for the Fed’s scheduleUpdated time: 24 Jan, 2022, 14:37 (UTC+04:00)
Asian markets and its peers were experiencing pressures as investors waited for the Fed’s schedule about stopping buying assets and starting raising interest rates. The BoJ may maintain the loose policy while the BoE was expected to raise its low 0.1% rate within six months.
Futures already priced in an end to tapering by March with the first hike was 0.25% in May or June. On the other hand, fund managers expected an end to tapering in April with only two hikes in 2022 fearing the hawkish outlook. Bonds were implying cash rates will be 1.8% for the next 30 years.
Japan’s Nikkei rose 0.1%.
Futures of Nasdaq and S&P 500 lost ground overnight.
10-year yields were up to 1.44%, flattening the trend.
Currencies: rising short-term rates strengthened the #dollar against its six pears, particularly the #euro and the #yen. The dollar index increased to 96.554 as bulls were eying the November peak at 96.938.
Gold faced a burden amid the risk of rising cash rates.
Oil prices eased.
Crypto: slightly surged.
BTC increased 2.6% to trade at $48,089.92 while ETH climbed 1.3% at $3,838.45, in the last 24 hours. Dogecoin went up 15.5 after Elon Musk accepted the coin as payment for Tesla’s merchandise on a test basis.