Japan's Nikkei share average snapped a four-day winning streak on Wednesday, as investors booked profits after the benchmark scaled a 33-year high earlier this week, while a firmer yen and disappointing China data also weighed on markets. The Nikkei fell 1.41% to 30,887.88 in its biggest daily drop since April 5. It jumped 7% in May to post its biggest monthly gain since November 2020.
The Australian and New Zealand dollars declined along with the yuan on Wednesday after a surprise deterioration in Chinese factory activity stoked worries about the country's sputtering post-pandemic recovery. Traditional safe-haven currencies the dollar and yen outperformed the euro and sterling.
* China PMIs miss expectations. * MSCI Asia ex-Japan index down 1% * Yuan hits six month low; Hang Seng down 20% from Jan. peak. By Tom Westbrook. China's yuan hit a six-month low and Asia's stockmarkets staggered toward a second month of losses on Wednesday as weak factory activity figures offered the latest evidence that recovery in the world's second-biggest economy is faltering.
By Hannah Lang. The U.S. dollar retreated from a more than two-month high on Wednesday after a Federal Reserve official warned any decision by the central bank to hold its benchmark overnight interest rate firm at an upcoming meeting would not mean that it is done tightening monetary policy.
The dollar languished below the psychological 140 yen level on Wednesday after getting knocked back from a six-month high after Japanese officials met on Tuesday to discuss their currency. The Australian dollar rode a rollercoaster after it jumped on heated local inflation data only to be dragged lower moments later by more signs of a slowdown in China, a major trading partner.
Japan's Nikkei share average snapped a four-day winning streak on Wednesday, as investors sold stocks to lock in profits after the benchmark scaled a 33-year high in the previous session, while a firmer yen also weighed on equities. By 0131 GMT, the Nikkei was down 0.8% at 31,070.59, falling from its highest level since July 1990 hit in the previous session.
* Canadian dollar weakens 0.1% against the greenback. * Price of U.S. oil settles 4.4% lower. * Canada-U.S. 2-year spread narrows by 5.6 basis points. * Canadian 10-year yield eases 6.3 basis points. By Fergal Smith.
Latin American currencies were mixed
on Tuesday against a weak dollar, with the Brazilian real
sliding to a five-week low as further evidence of slowing
inflation exerted more pressure on the central ...
Currency markets were choppy on Tuesday as the dollar hit a 10-week
high against peers and a six-month top versus the yen before retreating after Japanese officials gave their
currency a nudge.
Latin American currencies were mixed
on Tuesday, with the Brazilian real slumping after further
evidence of slowing inflation, while Turkey's lira hit a record
low as the market focused on ...
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