Fed, economic data, inflation currencies, oil

Fed, economic data, inflation currencies, oil
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SINGAPORE – Shares in the Asia-Pacific region fell earlier on Monday An important week in the US

The Nikkei 225 In Japan, it decreased by 0.84%, and the Topix index decreased by 0.72%.

And in South Korea kospi It fell sharply, while Kosdaq fell by 0.75%.

With an eye on the US FOMC meeting, Asian assets are likely to trade mixed on stagflation risks early in the week.

Venkateswaran Lavanya

Economist, Mizuho Bank

of Australia S&P/ASX 200 revolved around a straight line.

The Hang Seng index In Hong Kong, the Hang Seng Tech index fell 0.37%, while the index was down about 1%.

Mainland Chinese markets also fell. The Shanghai Composite It decreased by 0.11% and Shenzhen Component It decreased by 0.27%.

The Financial Times China has said it plans to divide US-listed Chinese companies into three groups based on the sensitivity of the data the firms hold in order to prevent delisting.

MSCI’s broadest index of Asia-Pacific shares outside Japan was slightly negative.

Inflation data will be released in Singapore on Monday. Economists polled by Reuters expect the core consumer price index for June to rise 4.2% from a year ago. Prices increased by 3.6% in May.

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weekend, The World Health Organization has declared monkeypox a global health emergency. The organization’s emergency committee could not reach a consensus, but WHO chief Tedros Adhanom Ghebreyesus decided to issue the highest warning, although he said it could not disrupt global trade or travel at this time.

Later this week, all eyes will be on the Fed’s interest rate decision and the release of US second quarter gross domestic product data.

Expectations for a 75 basis point move in July were at 78.7% CME Group’s FedWatch Tool.

“With an eye on the US FOMC meeting, Asian assets are likely to trade mixed on stagflation risks early in the week,” Mizuho Bank economist Venkateswaran Lavanya said in a note on Monday.

Within the Asia-Pacific region, advance estimates for South Korea’s GDP will be released on Tuesday, and Australia reports inflation data on Wednesday.

Currencies and oil

The US dollar indextracking the dollar against a basket of peers was 106,823.

The Japanese yen It traded at 136.46 per dollar after a sharp rally late last week. The Australian dollar It fell 0.52% to $0.6888, slightly below the $0.69 level.

Oil futures gave up earlier gains in early morning trading in Asia. US crude oil It decreased by 0.2% to 94.51 dollars/barrel Brent oil was about 103.15 dollars per barrel.

— CNBC’s Patti Domm and Spencer Kimball contributed to this report.

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