Asian stocks cautious ahead of key US jobs data

Stanislaw Fritsch
8 mins

Stocks in Asia are likely to start the day cautiously following a jump in the dollar ahead of key US jobs data. The data could increase expectations for another sharp interest rate hike by the Federal Reserve, which could have an impact on Asian m[...]

Stocks in Asia are likely to start the day cautiously on Friday, after the dollar rose sharply ahead of key US jobs data. The data could raise expectations for another sharp interest rate hike from the Federal Reserve, which could weigh on stock prices.

It is positive to see that futures rose for Japan and Australia in the wake of the US imposing new rules on exports to China. However, it is disappointing to see that Hong Kong's futures slipped in response. Hopefully, US contracts will be able to recover and stabilize soon.

The recent jobs update is expected to show strong payroll growth, following a stronger-than-expected US manufacturing report. Traders are increasingly anticipating another large 75 basis points Fed rate rise in order to cool inflation.

The outlook for the global economy remains uncertain, with trade tensions rising and financial markets volatility increasing. In this environment, it is not surprising that investors are seeking safe havens such as government bonds and the Japanese yen. However, with the US economy continuing to outperform its peers, the dollar remains the currency of choice for many investors.

As the world grapples with the ongoing Covid pandemic, oil prices have taken a hit, sliding to around $86 a barrel. China's recent decision to lock down the city of Chengdu in an effort to curb the virus has only added to fears about the future demand for oil, weighing heavily on the commodity's price. Industrial metals are also feeling the effects of the pandemic, as concerns about global economic growth continue to mount.

  
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The equity market slide might encourage some dip buying, but there are still risks to the global economy that could impact growth. Central bank officials have made it clear that they see the need for restrictive monetary settings for some time, which could temper any rebound in the markets.

I don't have a lot of reasons to be bullish in this type of environment for the next couple of weeks and months, Meera Pandit, global market strategist at JPMorgan Asset Management, said on Bloomberg Television. Yet when we think about the longer term perspective and the longer term investor, these are the types of level that can be fruitful in the long run.

US data showed manufacturing growth steadied in August and that a measure of materials costs fell for a fifth month in a sign of easing inflation pressures. This is good news for the economy, as it suggests that inflationary pressures may be easing off. This is good news for consumers and businesses alike, as it should help to keep prices stable.

Overall, the economy is improving and this report is more evidence of that. However, there is still room for improvement in terms of inflationary pressures. It will be interesting to see how the Fed reacts to this data in the coming months.

JPMorgan Asset Management’s Global Market Strategist Meera Pandit says there aren’t a lot of reasons to be bullish on stocks in the short term but advises not to be overly defensive. She speaks on “Bloomberg Markets: The Close.” 
It's no secret that the stock market has been on a roller coaster ride over the past few months. And while there may not be a lot of reasons to be bullish on stocks in the short term, JPMorgan Asset Management's Global Market Strategist Meera Pandit advises against being too defensive. In other words, don't put all your eggs in one basket. Pandit cites a number of factors that could contribute to a continued market decline, including the ongoing trade war between the United States and China,

There are some key events happening this week that everyone should be aware of! From economic reports to political developments, here are the key events to watch this week: Monday: The Federal Reserve will release its

  • It is expected that members of the European Central Bank's Governing Council will speak at an event on Tuesday, September 2. It is not yet known what they will discuss, but it is likely that they will provide updates on the ECB's monetary policy and the
  • The US nonfarm payrolls report for Friday is expected to show that the economy added jobs in August, helping to ease concerns about a slowdown in growth. The report is
  • The future of the United Kingdom's leadership will be decided this Friday, with the winner being announced on September 5. This is a critical time for the country, and whoever is chosen to lead will have a big task ahead of them.

The results of this week's MLIV Pulse survey suggest that Chinese sovereign bonds may outperform Treasuries in the coming months. This is good news for investors looking to diversify their portfolios and reduce their exposure to US debt.

Some of the main moves in markets: -The Dow dropped over 300 points amid concerns about trade tensions between the US and China. -The price of crude oil fell sharply after

Stocks are on the rise!

  • The S&P 500 rose 0.3% in early trading on Monday, indicating a positive start to the week for the stock market. Futures for the index were steady as of 7:17 a.m. in Tokyo, suggesting that the gains seen
  • Nasdaq 100 futures were up 0.1% in early trading on Wednesday, indicating a positive start to the day for the tech-heavy index. The Nasdaq 100 was little changed in the previous session, but remains near all-time
  • It is clear that the Nikkei 225 futures are on the rise, with a 0.6% increase being seen. This is good news for investors and shows that the market
  • The Australian stock market looks set to open higher on Wednesday, following positive leads from Wall Street. Futures for the S&P/ASX 200 index are up 0.3%, indicating a modest gain
  • The Hang Seng Index futures fell by 0.1% on the news that the US-China trade talks were getting more heated. This caused concerns among investors that a trade war between the

Currencies: How to Make Money in Any Market

  • The Bloomberg Dollar Spot Index was little changed, but this small change could signal big things to come for the global economy. A weaker dollar could mean more expensive imports for countries that rely on the US currency, and a stronger
  • I predict that the euro will continue to weaken against the dollar in the near future.
  • The Japanese yen is expected to continue its trend of appreciation against the US dollar, with experts predicting it will reach 140.20 per dollar by the end of the year. This would be a significant increase from
  • The offshore yuan is currently trading at 6.9151 against the dollar. This is a relatively strong position for the yuan, and it is likely that this trend will continue in the future.

Bond prices rise as investors seek safety amid coronavirus fears

  • The yield on 10-year Treasuries is expected to continue to rise in the coming days, as investor confidence in the economy continues to grow. This will likely lead to higher interest rates on a variety of other investments, including mortgages and corporate

Commodities prices are on the rise!

  • WTI crude prices fall to $86.40 a barrel
  • With gold prices hovering around $1,700 an ounce, now is a good time to invest in the precious metal. Gold is a safe haven asset that tends to hold its value well

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