{"id":8731,"date":"2023-05-15T01:41:18","date_gmt":"2023-05-15T05:41:18","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/asia-fx-weakens-dollar-steadies-before-economic-data-fed-speakers\/"},"modified":"2023-05-15T01:41:18","modified_gmt":"2023-05-15T05:41:18","slug":"asia-fx-weakens-dollar-steadies-before-economic-data-fed-speakers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=8731","title":{"rendered":"Asia FX weakens, dollar steadies before economic data, Fed speakers"},"content":{"rendered":"
\n

Investing.com — Most Asian currencies fell on Monday, while the dollar steadied after strong gains as markets awaited more cues on the world\u2019s biggest economies, as well as monetary policy signals from several Federal Reserve speakers this week. <\/p>\n

fell 0.1% and hit a two-month low against the dollar. The currency was also within spitting distance of the 7 level to the dollar, amid growing concerns over a slowing economic rebound in China.<\/p>\n

Focus this week is on and data from Asia\u2019s largest economy, which comes after a slew of disappointing readings for April. , and data all missed expectations in the past month, even as the country rolled back anti-COVID measures earlier this year.<\/p>\n

Weakness in China soured sentiment towards other Asian markets, with risk-heavy Southeast Asian currencies losing the most on Monday. The fell 0.5%, while the lost 0.6%.<\/p>\n

The was among the few outliers for the day, rising 0.3% as the country\u2019s national elections appeared to have swung in favor of the pro-democracy opposition party.<\/p>\n

The also grew more than expected in the first quarter, data showed on Monday. <\/p>\n

The fell 0.3% as inflation data read softer-than-expected for April, pointing to less pressure on the Bank of Japan to immediately tighten policy. <\/p>\n

But the key point of focus for Japanese markets this week is inflation data for April, due on Friday. The reading is expected to remain steady from the prior month and well above the BOJ\u2019s annual 2% target.<\/p>\n

Among other outliers, the rose 0.3% as it recovered from a one-week low hit last week, while the added 0.2%. <\/p>\n

Broader Asian currencies remained under pressure as the U.S. dollar retained a bulk of its recent gains. Expectations that the Fed will not cut interest rates this year saw the greenback log its best week since September. <\/p>\n

The and were both flat on Monday. Markets are now awaiting and data from the U.S. for more economic cues, after a softer-than-expected consumer sentiment reading on Friday ramped up concerns over a potential recession this year.<\/p>\n

Focus this week is also chiefly on a string of Fed speakers, most notably on Friday. Given that inflation has remained stubborn despite cooling economic growth, markets are seeking more clarity on monetary policy.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com — Most Asian currencies fell on Monday, while the dollar steadied after strong gains as markets awaited more cues on the world\u2019s biggest economies, as well as monetary policy signals from several Federal Reserve speakers this week. fell 0.1% and hit a two-month low against the dollar. The currency was also within spitting distance […]<\/p>\n","protected":false},"author":1,"featured_media":8732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-8731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"\nAsia FX weakens, dollar steadies before economic data, Fed speakers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com -- Most Asian currencies fell on Monday, while the dollar steadied after strong gains as markets awaited more cues on the world\u2019s biggest\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=8731\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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