BusinessBloombergStock Rally Rolls On as Steadier Mood Lifts Crude: Markets Wrap
(Bloomberg) -- Stocks rose in Asia on Wednesday amid speculation that China may deploy more stimulus to shore up its ailing economy and as robust US earnings delivered a boost for investor sentiment.Most Read from BloombergSaudi Billionaire Made $500 Million Russia Bet at War OnsetAmerica’s $7 Trillion Retirement Crisis Is Only Getting Worse‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in AdultsThese Six Cities Are Emerging as New Expat Hot SpotsWells Fargo Plans Major Retre
- BusinessReuters
GLOBAL MARKETS-Kiwi jumps on aggressive RBNZ; Asian shares rally
Asian shares rallied on Wednesday as strong earnings for U.S. retail giants suggested further room for interest rate hikes from the Federal Reserve as it attempts to cool inflation. FTSE 100 futures were up 0.25% and Euro Stoxx 50 futures were up 0.45%. S&P emini futures were up 0.1%.
- BusinessReuters
FOREX-NZ, Aussie dlrs have busy day, Fed minutes loom
The Australian and New Zealand dollars were volatile in Asia on Wednesday, before ending up back near where they started, providing some excitement ahead of the release of minutes of the U.S. Federal Reserve's latest meeting later in the day. The kiwi jumped to as high as $0.6383 after the Reserve Bank of New Zealand hiked rates by an expected 50 basis points (bps) and pointed to the need to bring forward the timing of future rate increases. "It (the RBNZ's remarks)was marginally on the hawkish side, enough to keep the pressure on rates," said Jason Wong, senior market strategist at BNZ, who said the track for the official cash rate implied another 50 bps hike in October.
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