Asian stocks, currencies set for weekly gains on US rate outlook

Quick Summary:

ASIAN stocks markets and currencies struggled for direction on Friday, but were set to post weekly gains as risk sentiment got a boost after a surprisingly soft U.S.inflation data fuelled bets for a September rate cut.

Both Malaysian and South Korean central banks stood pat on their interest rates on Thursday.

"This is certainly perceived to be another "good data" that Powell was referring to that can give the Fed greater confidence to start easing," Maybank analysts wrote.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaIndonesiaSouth KoreaPhilippinesSingaporeTaiwanThailand

Topics: Forex /Business/Business News Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-12 @ 14:42:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 399 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21582235

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 4 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 19 hours ago

Coverage Areas: Malaysia

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Publisher ID: #22

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