MONEY MASTER

US Treasury yields and the dollar dipped , while the Dow Jones Industrial Average surged to a record high on Friday, as a mild US inflation report boosted expectations for a larger interest rate cut at the Federal Reserve's (Fed) November meeting. The personal consumption expenditures (PCE) price index , the Fed's preferred measure of inflation, rose just 0.1% in August , down from 0.2% in July, indicating that inflation is moderating. Over the past 12 months, the PCE increased 2.2%, down from 2.5% in July, lifting market sentiment. This fueled expectations for a 50-basis-point interest rate cut at the Fed's upcoming policy meeting, with the probability of such a cut rising to 56.7% from 49.9% prior to the data release, according to the CME's FedWatch Tool. The Dow Jones Industrial Average rose 137.89 points (0.33%) to close at 42,313.00 , setting a new record, while the S&P 500 dipped 0.13% and the Nasdaq Composite fell 0.39% . Despite the slight decli...

Global stocks dipped on Wednesday, with China’s stimulus-fueled rally standing out as a bright spot amid broader declines. European markets fell 0.1% , while Wall Street futures pointed to losses, with S&P 500 futures down 0.2% . Oil and gas shares led the losses, as concerns mounted that China’s stimulus might not sufficiently boost demand. The US dollar weakened, hitting a one-month low against the euro and a two-and-a-half-year low against the British pound, following US consumer confidence data that showed the largest decline since August 2021. This data increased expectations of a 50-basis point interest rate cut at the Federal Reserve’s next meeting in November. In China, the People’s Bank of China (PBOC) followed its broad policy easing with a cut to medium-term lending rates . Mainland Chinese blue-chip stocks rose 1.4% , adding to a 4.3% gain from the previous day. Hong Kong’s Hang Seng Index also climbed 0.7% . Despite the stimulus measures, some analysts expre...

Asian currencies surged on Wednesday as China's new stimulus measures boosted investor confidence. The Thai baht reached a 30-month high, rising 0.9% , and has gained approximately 11% this quarter. This rapid appreciation is putting pressure on Thailand's central bank to intervene, potentially cutting interest rates to maintain trade competitiveness and protect the tourism sector . The rally in the baht, one of Southeast Asia's top performers this year with a 4.6% increase , is driven by political stability , foreign inflows , and record-high gold prices . However, concerns are growing about its impact on exporters , leading to calls for the Bank of Thailand to address the currency's strength. The Thai finance ministry and central bank are set to meet next week to discuss these issues and the country's inflation target. Other Asian currencies also saw gains. The Malaysian ringgit appreciated by 1.1% to 4.105 per US dollar , its highest level since June 2021,...

  Asian currencies surged on Wednesday, with Malaysia's ringgit hitting its highest level in over three years, bolstered by China's stimulus measures aimed at revitalizing its economy. The People's Bank of China (PBOC) cut its medium-term loan rate following a broad policy easing package, sparking a rally across regional currencies and stocks. The ringgit , which has been the best-performing currency in Asia this year, appreciated by 0.7% against the US dollar, reaching 4.12 per dollar , its highest point since June 2021. The Indonesian rupiah and Philippine peso also posted strong gains, rising by 0.6% each. China's policy moves, which include support for its stock market and the ailing property sector , were seen as a significant step to address the economic slowdown . The MSCI's broadest index of Asia-Pacific shares rose 1.4%, reaching its highest level since February 2022, while the MSCI emerging markets currency index hit a record high. Indonesia is e...