- A look at the day ahead in Asian markets from Jamie McGeever. Expect an ugly open to Asian markets on Monday as investors try to shield themselves from the fallout from the widespread selling that battered stocks, bonds, and currencies on Friday.
The euro and sterling plummeted to fresh 20-year and 37-year lows
against a surging U.S. dollar on Friday after surveys showed the downturn in business activity across the
euro zone and Britain ...
* TSX falls 525.42 points, or 2.8%, at 18,477.26. * Energy tumbles 7.5%; oil settles 5.7% lower. * Canadian dollar hits a 2-year low at 1.3612. * Canadian retail sales fall 2.5% in July. By Fergal Smith.
Speculators' net long bets on the U.S. dollar fell in the latest week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position was $10.23 billion for the week ended Sept. 20, compared with a net long position of $17.24 billion last week.
The dollar's surge to new highs, even as monetary authorities around the world jack up interest rates or intervene to support their domestic currencies, shows that central banks fighting the 'reverse currency war' are doomed. In the battle against an ultra-hawkish Fed, there is only one winner: the dollar.
* Dow poised to confirm bear market. * MSCI All-World index hits 2-year low. * Dollar reaches new two-decade high. * Sterling and gilts sell off after UK 'mini-budget' By Herbert Lash, Amanda Cooper and Tommy Wilkes.
Britain's bond market suffered its biggest daily fall in decades on Friday and is expected to slump further, as investors choked on the prospect of hundreds of billions of pounds in extra borrowing to fund tax cuts and energy bills.
* MSCI All-World index hits 2-year low. * Dollar reaches new two-decade high. * Sterling and gilts sell off after UK 'mini-budget' * Treasuries head for 8th weekly loss. By Herbert Lash, Amanda Cooper and Tommy Wilkes.
* Precious metals set for weekly falls. * U.S. dollar hits 20-year high. * Benchmark 10-year yields jump to 12-year highs. By Kavya Guduru. Gold prices dropped over 1.5% to their lowest since April 2020 on Friday, hurt by an unrelenting rally in the U.S. dollar and Treasury yields as the Federal Reserve adopts a more aggressive stance to check surging inflation.
Brazil's real dropped over 2% on
Friday, leading sharp declines across Latin American currencies
as fears that aggressive interest rate hikes by major central
banks could cause a global ...
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