(Bloomberg) — Asian stocks rose, heading for their second day of gains on Tuesday, as the dollar slipped before a swath of inflation prints that’s expected to influence the direction of global monetary policy.
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The MSCI AC Asia Pacific index rose, with stocks in Hong Kong leading gains. US and European equity futures remained firm. The Bloomberg dollar index was down for a third day, falling against all of its Group-of-10 peers as investors mull prospects for US interest-rate cuts. Australia’s currency outperformed. The 10-year Treasury yield remained steady.
“Upbeat risk tone weighed on the US dollar and supported the Australian dollar,” Peter Dragicevich, APAC currency strategist at Corpay, wrote in a note. “If we are right in our assessment that the US core PCE deflator moderates, the China PMIs improve, and/or statistical quirks see euro-zone inflation re-accelerate, we believe the USD could lose ground later in the week.”
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2024-05-28 00:04:03
Original from finance.yahoo.com