Nikkei bounces almost 2% after Wall St rally U.S. CPI, Fed’s Powell loom large this week Risk China data may disappoint after policy easing ECB’s Lagarde says policy guidance to change at next meeting
SYDNEY, July 12 (Reuters) - Asian shares were enjoying a relief rally on Monday as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth, though plenty of potential pitfalls lay ahead this week.
In the United States, inflation data could provide a scare ahead of testimony by Federal Reserve Chair Jerome Powell on Wednesday and Thursday, where markets will be hyper-sensitive to any talk of early tapering.
Monday, 12 Jul 2021 08:29 AM MYT
Early Monday, MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4 per cent, after shedding 2.3 per cent last week. Reuters pic
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SYDNEY, July 12 Asian shares were enjoying a relief rally today as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth, though plenty of potential pitfalls lay ahead this week.
In the United States, inflation data could provide a scare ahead of testimony by Federal Reserve Chair Jerome Powell on Wednesday and Thursday, where markets will be hyper-sensitive to any talk of early tapering.
Asia shares enjoy relief rally, but hurdles ahead
By Wayne Cole
Reuters
SYDNEY (Reuters) - Asian shares were enjoying a relief rally on Monday as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth, though plenty of potential pitfalls lay ahead this week.
In the United States, inflation data could provide a scare ahead of testimony by Federal Reserve Chair Jerome Powell on Wednesday and Thursday, where markets will be hyper-sensitive to any talk of early tapering.
The earnings season also kicks off with JP Morgan, Goldman, Citigroup and Wells Fargo among those reporting.
U.S. CPI, Fed s Powell loom large this week
Risk China data may disappoint after policy easing
ECB s Lagarde says policy guidance to change at next meeting
LONDON, July 12 (Reuters) - An upsurge in infections of the Delta coronavirus variant capped equity and commodity gains on Monday and kept bond yields just above multi-month lows, though U.S. tech shares that benefited from COVID-linked lockdowns were tipped to open higher.
Markets are jittery at the start of an eventful week that will see the U.S. second-quarter earnings season kick off, the release of inflation data in several countries, and testimony by Federal Reserve Chair Jerome Powell which will be scrutinised for any talk of tapering. read more
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