Asian shares eased and the dollar firmed on Tuesday as unexpectedly strong U.S. factory activity bolstered expectations the Federal Reserve will soon trim its stimulus, while the yen tumbled on speculation of further central bank easing.
The U.S. Institute for Supply Management’s index of national factory activity rose in November to its best showing since April 2011, while the pace of hiring also accelerated.
Friday’s nonfarm payrolls report is expected to provide further clues as to when the Fed will start reducing its monthly $85 billion bond purchases, a major driver of global asset markets in recent years.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015