NewsFeeder
Headline News
U.S. Futures Drop With Yuan as Trade Roils Outlook: Markets Wrap
(Bloomberg) -- Futures on U.S. equity indexes dropped and the yuan slipped on Monday after a report that China may be increasingly reluctant to agree to a broad trade deal with the Trump administration. European stocks fluctuated and Treasuries nudged higher.Contracts for the three main U.S. gauges all slipped after a Bloomberg report that senior Chinese officials have indicated the range of topics they’re willing to discuss has narrowed considerably. The Stock Europe 600 index struggled for direction as declines in automaker shares undercut gains in health-care and food shares. Japanese equities closed little changed, while Shanghai markets are yet to re-open after holidays. The offshore yuan dropped by the most since late September.Hong Kong markets were also shuttered for a holiday, leaving traders with limited options to respond -- or not -- to escalating violence in the city, where protesters set fires and vandalized train stations and banks over the weekend. The pound weakened as European leaders cast doubt on reaching a Brexit agreement in time for the U.K.’s Oct. 31 deadline.Investor focus will return to foreign trade this week, with protectionism portrayed as the main impediment to global growth as Chinese Vice Premier Liu He heads to Washington with an entourage of officials to resume talks with their U.S. counterparts. With traders keeping their bets intact for further Federal Reserve rate cuts, they’ll be looking for more clues on when and how U.S. central bankers may step in to support the U.S. economy when they study minutes due this week from the latest Fed meeting.Elsewhere, West Texas-grade oil edged higher following its biggest weekly decline since July. Bitcoin fell below $8,000, poised for the lowest closing level since June.Here are some key events coming up this week:Chinese Vice Premier Liu He visits Washington for trade talks with his U.S. counterparts.Fed Chair Jerome Powell speaks Tuesday on the final day of NABE’s annual conference in Denver; on the following day, minutes are released on the last policy meeting of the Fed’s rate-setting committee.Chinese President Xi Jinping and Indian Prime Minister Narendra Modi meet at an unofficial summit.U.S. releases September inflation data.Here are the main moves in markets:StocksThe Stoxx Europe 600 Index was little changed at as of 9:27 a.m. London time.Futures on the S&P 500 Index fell 0.5%.The MSCI Asia Pacific Index was little changed.CurrenciesThe Bloomberg Dollar Spot Index rose 0.2%.The pound fell 0.1% to 89.187 pence to the euro.The single currency declined 0.1% to $1.0965.The Japanese yen strengthened 0.1% to 106.84 per dollar.The offshore yuan weakened 0.3% to 7.1326 per dollar.BondsThe yield on 10-year Treasuries fell two basis points to 1.51%.Ireland’s 10-year yield dipped one basis point to -0.045%.Germany’s 10-year yield declined two basis points to -0.60%.CommoditiesWest Texas Intermediate crude rose 0.6% to $53.11 a barrel.LME aluminum dipped 0.2% to $1,716 per metric ton.LME copper gained 0.4% to $5,663 per metric ton.\--With assistance from David Wilson.To contact the reporters on this story: Cormac Mullen in Tokyo at cmullen9@bloomberg.net;Todd White in Madrid at twhite2@bloomberg.netTo contact the editor responsible for this story: Samuel Potter at spotter33@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/yen-edges-yuan-slips-focus-223035085.html?.tsrc=rss
(Bloomberg) -- Futures on U.S. equity indexes dropped and the yuan slipped on Monday after a report that China may be increasingly reluctant to agree to a broad trade deal with the Trump administration. European stocks fluctuated and Treasuries nudged higher.Contracts for the three main U.S. gauges all slipped after a Bloomberg report that senior Chinese officials have indicated the range of topics they’re willing to discuss has narrowed considerably. The Stock Europe 600 index struggled for direction as declines in automaker shares undercut gains in health-care and food shares. Japanese equities closed little changed, while Shanghai markets are yet to re-open after holidays. The offshore yuan dropped by the most since late September.Hong Kong markets were also shuttered for a holiday, leaving traders with limited options to respond -- or not -- to escalating violence in the city, where protesters set fires and vandalized train stations and banks over the weekend. The pound weakened as European leaders cast doubt on reaching a Brexit agreement in time for the U.K.’s Oct. 31 deadline.Investor focus will return to foreign trade this week, with protectionism portrayed as the main impediment to global growth as Chinese Vice Premier Liu He heads to Washington with an entourage of officials to resume talks with their U.S. counterparts. With traders keeping their bets intact for further Federal Reserve rate cuts, they’ll be looking for more clues on when and how U.S. central bankers may step in to support the U.S. economy when they study minutes due this week from the latest Fed meeting.Elsewhere, West Texas-grade oil edged higher following its biggest weekly decline since July. Bitcoin fell below $8,000, poised for the lowest closing level since June.Here are some key events coming up this week:Chinese Vice Premier Liu He visits Washington for trade talks with his U.S. counterparts.Fed Chair Jerome Powell speaks Tuesday on the final day of NABE’s annual conference in Denver; on the following day, minutes are released on the last policy meeting of the Fed’s rate-setting committee.Chinese President Xi Jinping and Indian Prime Minister Narendra Modi meet at an unofficial summit.U.S. releases September inflation data.Here are the main moves in markets:StocksThe Stoxx Europe 600 Index was little changed at as of 9:27 a.m. London time.Futures on the S&P 500 Index fell 0.5%.The MSCI Asia Pacific Index was little changed.CurrenciesThe Bloomberg Dollar Spot Index rose 0.2%.The pound fell 0.1% to 89.187 pence to the euro.The single currency declined 0.1% to $1.0965.The Japanese yen strengthened 0.1% to 106.84 per dollar.The offshore yuan weakened 0.3% to 7.1326 per dollar.BondsThe yield on 10-year Treasuries fell two basis points to 1.51%.Ireland’s 10-year yield dipped one basis point to -0.045%.Germany’s 10-year yield declined two basis points to -0.60%.CommoditiesWest Texas Intermediate crude rose 0.6% to $53.11 a barrel.LME aluminum dipped 0.2% to $1,716 per metric ton.LME copper gained 0.4% to $5,663 per metric ton.\--With assistance from David Wilson.To contact the reporters on this story: Cormac Mullen in Tokyo at cmullen9@bloomberg.net;Todd White in Madrid at twhite2@bloomberg.netTo contact the editor responsible for this story: Samuel Potter at spotter33@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
https://finance.yahoo.com/news/yen-edges-yuan-slips-focus-223035085.html?.tsrc=rss
