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Last update: Sat, 01 Oct 2016 02am

Asia

Markets - FXMM - Asia

Dollar index may rise to 96.889 this week SINGAPORE: The dollar index may break a resistance at 96.225 and rise more to the next resistance at 96.889 this week, as suggested by its wave pattern and a Fibonacci projection analysis.These resistances are identified respectively as the 38.2 percent and the 50 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle from the May 3 low of 91.919. The cycle has been developing within a rising channel, which indicates the wave C may eventually travel into a range of 98.374-98.936.The index failed to overcome the barrier at 96.225 at its first attempt, but may succeed at its current attempt. A correction from the current level may be limited to 95.404.Use EIKON news "Alerts" to get reports sent to your email box automatically. Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own.No information in ...

Markets - FXMM - Asia

South Korea won slips to a 3-week low as Fed, BOJ decisions awaited SEOUL: The South Korean won dropped to a 3-week low against the dollar on Monday as stronger-than-expected US inflation data added to market jitters ahead of a Federal Reserve meeting this week.The won was quoted at 1,121.4 as of 0220 GMT, down 0.2 percent compared to the previous close of 1,118.8. It touched its lowest level since Aug. 29 earlier in the session.US consumer prices in August pointed to a steady build-up of inflation that ...

Markets - FXMM - Asia

China's yuan firms, supported by surging costs of borrowing in Hong Kong  SHANGHAI: Taking a cue from the yuan strength in the offshore market, China's central bank fixed a stronger midpoint for the the yuan, but the currency came off early highs as mainland banks and corporates seized the opportunity to buy dollars.The People's Bank of China set the midpoint rate at 6.6786 per dollar prior to market open, firmer than the previous fix 6.6895.The spot yuan opened at 6.6609 per dollar, before easing to 6.6688 at ...

Markets - FXMM - Asia

Dollar slips from 2-week high, focus on BOJ and Fed meetings SINGAPORE: The dollar edged lower on Monday, paring some of the gains made in the wake of strong U.S. inflation data that bolstered bets the Federal Reserve will raise interest rates this year.The dollar index, which measures the greenback's value against a basket of six major currencies, fell 0.2 percent to 95.888. On Friday, it touched 96.108, its strongest level since Sept. 1.U.S. consumer prices rose more than expected in August, data on Friday showed, ...

Markets - FXMM - Asia

Solid stocks, oil support Asia FX; Fed, BOJ awaited SINGAPORE: Most emerging Asian currencies rebounded on Monday, tracking higher regional equities ahead of monetary policy decisions in the United States and Japan, while higher oil prices improved risk appetites.China's yuan advanced as the central bank set its daily guidance rate firmer on the currency's strength in the offshore market. Hong Kong's overnight renminbi borrowing rate was fixed at the highest level in eight months.The yuan's strength boosted regional peers such as the Taiwan dollar ...

Markets - FXMM - Asia

Dollar retreats in Asia ahead of Fed, BoJ meet SINGAPORE: The dollar eased in Asia Monday after last week's pick-up as investors await crucial policy meetings at the Federal Reserve and Bank of Japan later this week.The greenback rose Friday after the release of higher-than-forecast US inflation for August strengthened the case for a US interest rate hike.But a series of below-part readings on the economy, including jobs creation and factory activity, have fuelled speculation the central bank will stop short of tightening borrowing ...

Markets - FXMM - Asia

Dollar losses mount as US data douse rate hike talk TOKYO: The dollar extended losses on Friday in Asia as investors bet against a September Federal Reserve interest rate hike following another weak batch of US data.The greenback drew some support over the week following comments from Fed officials hinting that the policy board could lift borrowing costs at next week's meeting.But the chances of such a move were dampened Thursday by the release of figures showing retail sales fell last month and wholesale inflation ...