• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Traders hold for US data as China disinflation risk drags
Business

Traders hold for US data as China disinflation risk drags

July 10, 2023No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

[1/2]Signage is seen outside the entrance of the London Stock Exchange in London, Britain. Aug 23, 2018. REUTERS/Peter Nicholls/File Photo

  • European shares rise, U.S. stock futures turn down
  • China inflation surprisingly low in June
  • Bonds vulnerable after recent heavy losses
  • Dollar strength knocks yen, euro and pound

LONDON, July 10 (Reuters) – U.S. stocks were poised to open lower on Monday as investors took to the sidelines ahead of a inflation report and following Chinese data that heightened worries of an economic slowdown.

Trading volumes on both the S&P and Nasdaq futures indices dropped to their lowest so far this month and prices corresponded by dipping by 0.2% and 0.3% respectively. The pan-European STOXX 600 index (.STOXX) rose 0.1% by 1050 GMT.

Chinese consumer price figures fell in June, making them almost unchanged from a year earlier, while producer prices slid deeper into negative territory.

The weakness implies scope for further monetary policy easing, but also underlines the challenge Beijing faces in reflating its economy and avoiding a deflationary spiral.

“China is just a symptom. We see weaker growth around the world because of the effect of higher interest rates. China is exposed to that because of their export sensitivity,” said Matthias Scheiber, global head of multi-asset portfolio management at Allspring Global Investments.

“The challenge going forward, will be on equity valuations. If there is no improvement in earnings it will be hard for equities to continue to rally,” added Scheiber.

The earnings season starts this week with JPMorgan (JPM.N), Citigroup (C.N), Wells Fargo (WFC.N), State Street (STT.N) and PepsiCo (PEP.O) among those reporting.

See also  AutoZone's long-time CEO Rhodes to step down next year

CPI SLOWDOWN

U.S. consumer prices are expected on Wednesday to show headline inflation slowed to its lowest since early 2021 at 3.1%, down from 9.1% a year earlier.

“We have been optimistic about the soft landing story since April. The consumer seems to be stronger than anyone imagined. There’s still lots of money in people’s accounts and at the same time, people are highly employed,” said Fahad Kamal, chief investment officer at SG Kleinwort Hambros.

“Barring any upside surprise, U.S. inflation should ease from here and the Fed might be near done,” added Kamal.

Markets still think the Federal Reserve is likely to hike rates this month, but a weak CPI might lessen the risk of a further move in September.

Currently futures imply around a 90% probability of a rise to 5.25%-5.5% this month, and a 24% chance of a move in September.

Fed officials have been mostly hawkish in their communications, while markets have also priced in higher rates in Europe and the UK. Canada’s central bank meets this week and markets imply a 67% chance of another hike.

The risk of higher global rates for longer has caused havoc in bond markets, where U.S. 10-year yields jumped 23 basis points last week, German yields 24 basis points and UK yields 26 basis points.

On Monday, U.S. two-year yields last stood at 4.92%, having hit a 16-year high of 5.12% last week.

The jump in developed-world yields caused ripples in currency markets, particularly in carry trades where investors borrow yen at super-low rates to invest in high-yielding emerging market currencies.

See also  Former State Judge And AG Splits From Industry-Sponsored Panelist, Rules Bud Light Violated Code By Marketing To Minors

The net result was a rush to close yen short positions which saw the Japanese currency rally across the board last week, though it struggled to sustain this on Monday.

The dollar edged back up to 142.46 yen , after sliding 1.3% on Friday. The euro , down 0.1%, and pound down 0.4% took knocks against a stronger dollar.

In commodity markets, gold steadied at $1,923 an ounce after making a slight gain last week.

Oil prices eased slightly, having touched nine-week highs last week as top exporters Saudi Arabia and Russia announced new output cuts.

Brent and U.S. crude both fell respectively about 0.7% to $77.95 and $73.30 a barrel.

Reporting by Nell Mackenzie; Editing by Amanda Cooper, Stephen Coates, Ed Osmond and Barbara Lewis

: .

China data disinflation Drags Hold risk Traders
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

May 7, 2025

Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Netflix Star ‘Miss Benny’ Insinuates Candace Cameron Bure Tried to Nix ‘Fuller House’ Gay Character

July 10, 2023

Martina Navratilova Fires Back After Megan Rapinoe Says She Wants Trans Athletes in Women’s Sports

July 12, 2023

Male Powerlifting Coach Breaks Women’s Record to Protest ‘Trans Inclusion Policy’

April 3, 2023

Matt Gaetz Gets Shut Down When He Tries To Fire McCarthy After CR Passes

September 30, 2023
Don't Miss

Short and Funny Sayings for a Happy Summer with Friends

Lifestyle May 9, 2025

I love the beach. Just looking at the calming sea to relax. Having fun in…

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,627)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

A Future Option For Health Systems Seeking To Remain Independent?

May 16, 2023

ESPN’s Sage Steele Blasts Court Ruling Forcing USA Powerlifting to Allow Trans Athletes

March 16, 2023

How a Loss to the Guardians Inspired the Rays’ Power Surge

June 24, 2023
Popular Posts

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.