Page 45 - Frx News Today

Asian bonds secured their biggest monthly foreign inflows in thirteen months in March on hopes that major central banks would end their rate-hike cycle soon to boost the economies from a slowdown.

The South African rand extended the previous day's strong gains early on Friday, supported by expectations that the U.S. Federal Reserve may soon pause its rate-hiking cycle.

The South African rand weakened on Friday as the dollar jumped higher after hawkish comments by a Fed official on the U.S. central bank's future interest rate trajectory.

A look at the day ahead in U.S. and global markets from Mike Dolan

The South African Reserve Bank has the freedom to adjust monetary policy without having to follow the Federal Reserve’s interest-rate hikes because the effects of the US institution’s moves feed into the exchange rate and domestic inflation, which the Reserve Bank targets, SARB governor Lesetja Kganyago said.

The Kenyan shilling edged lower against the dollar on Thursday as the manufacturing sector sought foreign currency to pay for imports, amid thin trading volumes, traders said.

Egypt and the International Monetary Fund have yet to agree on a date for the initial review under a $3 billion financial package signed in December, an IMF official said on Thursday.

Trading and investing platform eToro said on Thursday it has partnered with Elon Musk-led Twitter to let users access real-time prices of cryptocurrencies, stocks and other assets, and to enable the trading of those instruments.

The Indian rupee was expected to firm on Thursday, after U.S. inflation softened more than expected and raised hopes that the Federal Reserve was near the end of its hiking cycle.

A look at the day ahead in Asian markets from Jamie McGeever.