An index of the dollar against six other currencies rose to a 16-month high of 95.264 as the euro slipped to $1.1449, near its lowest since July last year. inflation reading fanned expectations the Fed would tighten monetary policy faster than previously thought. In the currency market, the dollar held firm after Wednesday's strong U.S. Money markets have already priced in two rate hikes next year. Treasuries yield rising 1.9 basis points to 1.572% on Friday after a market holiday on Thursday. Bond yields ticked up, with the 10-year U.S. retail sales for October are due next Tuesday. If that's the case, we could see a pretty strong retail sales number next week, which would be positive for stocks," he added. holiday sales are expected to rise 8.5% to 10% this year, with some consumers said to be starting to buy earlier than usual because of worries about supply glitches.
"If we get over the year-end holiday shopping season, when demand should be peaking, perhaps inflation could subside," said Hirokazu Kabeya, chief global strategist at Daiwa Securities. While the inflation data suggested that the current wave of price spikes due to chronic worldwide supply constraints could have more staying power than many had hoped, many investors still think inflationary pressure will eventually ease, rather than strengthen. That's not where we are now," said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities. But stock prices will face a major crash only if the Federal Reserve turns out to be completely wrong in its assessment and is forced to raise interest rates rapidly.
consumer price index rose 6.2% year-on-year in October, the strongest advance since November 1990. The world's stock prices posted their biggest fall in over a month on Wednesday following a surprisingly strong reading on U.S. stock futures were up about 0.3% after a mixed session on Thursday when the S&P 500 ended 0.06% higher while tech-heavy Nasdaq rose 0.52%. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.7% to reach its highest level in two weeks while Japan's Nikkei gained 1.1%, helped by brisk earnings. inflation reading ebbed, with investors now hopeful that the worst price hikes could be soon over. TOKYO: Asian share prices advanced on Friday as a shock from a surprisingly strong U.S.
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