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The dollar climbed to three-week peaks on Friday, still benefiting from better-than-expected U.S. retail sales data released on Thursday that backed expectations for a reduction of asset purchases by the Federal Reserve before the end of the year. The dollar index, a gauge of the greenback's value against six major currencies, rose to 93.094, its highest since late August. It was last up 0.2% at 93.062. The Fed holds a two-day monetary policy meeting next week and is expected to open discussions on reducing its monthly bond purchases, while tying any actual change to U.S. job growth in September and beyond. "With tapering, there is definitely some upside in front-end and intermediate yields and should be dollar-positive upon the initial announcement," said Simon Harvey, senior FX market analyst at Monex Europe in London. Speculation about a Fed taper this year gathered pace after U.S. retail sales unexpectedly increased in August, data showed on Thursday, rising 0.7% from the previous month despite expectations of a 0.8% fall. A business sentiment survey also showed a big improvement. In mid-morning New York trading, the euro slid 0.2% to $1.1743, after hitting a three-week low of $1.1741 earlier in the session. The University of Michigan consumer sentiment for September inched higher to 71 versus the final August reading of 70.3, but overall analysts said the rise was nowhere near the improvements seen in the Empire States and Philadelphia Fed manufacturing surveys. The dollar held gains after the Michigan sentiment report. Currency markets were generally quiet on Friday with traders reluctant to take on new positions ahead of a clutch of important central bank meetings next week including the Fed, the Bank of Japan and the Bank of England. The dollar was up 0.2% against the Swiss franc at 0.9299 francs, after earlier hitting a five-month high . The dollar rose 0.3% to 110.025 yen. The yen has shown a limited reaction to the ruling Liberal Democratic Party's leadership race, which formally kicks off on Friday ahead of a Sept. 29 vote. The LDP's parliamentary dominance means the party's new leader will become prime minister. The dollar also rose to a two-week high against the offshore yuan and was last up 0.1% at 6.4642 . The Chinese currency is being pressured by growing worries about China's real estate sector as investors fear property giant China Evergrande could default on its coupon payment next week. The Evergrande saga follows a series of regulatory clampdowns in China that has knocked investor confidence in the local stock market, as well as signs growth there is slowing. The British pound fell 0.2% to $1.3758 as UK retail sales undershot expectations. However, with investors bringing forward forecasts for a Bank of England interest rate hike to mid-2022, sterling remains supported and is near one-month highs. ======================================================== Currency bid prices at 10:29AM Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index 93.0930 92.8730 0.25% 3.459% 93.1090 92.7600 Euro/Dollar $1.1742 $1.1768 -0.21% -3.89% $1.1789 $1.1742 Dollar/Yen 110.0150 109.7500 0.24% 6.48% 110.0750 109.6700 Euro/Yen 129.16 129.13 0.02% 1.76% 129.6600 129.0300 Dollar/Swiss 0.9303 0.9279 0.27% 5.16% 0.9304 0.9261 Sterling/Dollar $1.3756 $1.3792 -0.26% 0.69% $1.3812 $1.3755 Dollar/Canadian 1.2725 1.2685 0.32% -0.06% 1.2726 1.2638 Aussie/Dollar $0.7279 $0.7295 -0.22% -5.38% $0.7321 $0.7278 Euro/Swiss 1.0924 1.0915 0.08% 1.08% 1.0935 1.0906 Euro/Sterling 0.8534 0.8528 0.07% -4.51% 0.8553 0.8523 NZ $0.7037 $0.7076 -0.52% -1.98% $0.7086 $0.7036 Dollar/Dollar Dollar/Norway 8.6560 8.6385 0.20% 0.80% 8.6585 8.5925 Euro/Norway 10.1640 10.1410 0.23% -2.89% 10.1699 10.1136 Dollar/Sweden 8.6657 8.6210 0.31% 5.73% 8.6679 8.6038 Euro/Sweden 10.1751 10.1435 0.31% 0.98% 10.1781 10.1370 Some well-timed trades in the options on GreenSky Inc, in the days before Goldman Sachs announced a deal to buy the digital lender on Wednesday are raising eyebrows among options analysts. * Rewrites top, updates prices, adds U.S. market open, changes headline, bullet points, dateline, byline, previously LONDON -European stocks ended flat on Tuesday, with miners, banks and luxury stocks leading declines as optimism over cooling U.S. inflation growth in August proved to be short-lived. European stocks rose on Thursday as a rebound in travel stocks and overnight strength in Wall Street helped offset concerns about China's slowing economy that dragged down miners. BEIJING The Shanghai government will support companies applying for approval to sell duty-free goods, and encourage duty-free shops to be set up at airports, hotels, malls and other commercial venues, municipal authorities said. Japan will find out who is replacing Prime Minister Yoshihide Suga on Sept. 29, when the ruling party chooses a new leader, with vaccine minister Taro Kono reckoned to be the frontrunner in the race. Sri Lankan shares clocked their second consecutive weekly loss as the island nation further extended its lockdown until Oct. 1 to tackle an upsurge in coronavirus cases. U.S. officials are examining possible insider trading and market manipulation at Binance, Bloomberg News reported on Friday, potentially adding more heat to the cryptocurrency exchange that has become a target of regulatory scrutiny in many countries. Six executives of China's heavily indebted Evergrande had redeemed some of the company's investment products in advance earlier this year, the property group said on Saturday. -European stocks fell on Friday, capping their third straight week in the red as the basic resources sector was hit by declines in Anglo American, but news that Britain was mulling easing travel restrictions boosted airlines and hotel groups.
* Travel & leisure leads weekly sectoral gains Thailand's baht and stocks fell on Friday, hit by reports of a delay in the tourism-reliant nation's plans to reopen capital Bangkok to international travellers, while other emerging Asian currencies came under pressure from a firmer U.S. dollar. Concerns around regulatory crackdowns in China as well as debt-ridden developer China Evergrande Group's financial troubles dragged equities in broader Asia. Shares in the Philippines dropped 0.8% and led losses in the region, while Malaysia and Singapore fell 0.6% and 0.3%, respectively. Stocks in Thailand fell 0.6% to hit a 3-week low, while the baht weakened 0.4%. The Bangkok Post on Thursday reported st.com/business/2182455/citys-reopening-to-be-postponed that Thailand's tourism minister, Phiphat Ratchakitprakarn, said the reopening of the city to foreigners should be delayed by two weeks, as the country attempts to inoculate a larger proportion of its population. "Thailand remains under pressure from a precarious political situation, an uncertain path out of the pandemic and fast approaching policy limits," analysts at Mizuho Bank said in a note. "Although headline COVID-19 cases have eased from its peak, the pandemic situation is far from being under control." It had earlier planned to allow vaccinated tourists into Bangkok by Oct. 1. The dollar firmed following an unexpected rise in U.S. retail sales for August, which offset some concerns about growth in the world's largest economy and signalled the Fed might opt for an earlier tapering of its massive pandemic-fuelled stimulus. The South Korean won and Malaysian ringgit both weakened 0.3%. Equities in China have dropped nearly 2.5% this week, after a raft of weaker-than-expected data suggested growth in the world's second-largest economy would slow in the second half of this year. Meanwhile, cash-strapped China Evergrande tanked further to mark its worst week ever. Indian shares reversed course to lose 0.1%, after gaining as much as 0.9% in early trading to hit yet another record high Investors in Indonesia looked ahead to the country's central bank meeting on Sept. 21, where the key interest rate is expected to be kept steady, as the economy gradually reopens after a recent devastating COVID-19 wave. HIGHLIGHTS ** Indonesian 10-year benchmark yields are down 0.2 basis points at 6.159% ** Thai stocks hit 3-week low ** Indian shares retreat after scaling record high Asia stock indexes and currencies at 0727 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCK DAILY YTD % DAILY S YTD % % % Japan -0.14 -6.02 0.58 11.13 China 0.10 1.22 0.19 4.06 India 0.06 -0.55 -0.08 25.99 Indonesia 0.25 -1.23 0.12 2.31 Malaysia -0.26 -3.55 -0.56 -4.96 Philippines 0.18 -3.71 -0.80 -3.18 S.Korea -0.27 -7.56 0.33 9.29 Singapore 0.03 -1.78 -0.25 7. global financial markets articles 50 Taiwan -0.01 2.76 -0.01 17.27 Thailand -0.39 -9.68 -0.62 11.88 -European shares slipped on Wednesday as utilities fell on Spain's move to cap energy bills, while luxury stocks continued to weaken on worries about a slowing Chinese economy. Azerbaijan's central bank raised its refinancing rate by 25 basis points to 6.5%, it said on Friday. * Evergrande should not bet on govt bailout - Global Times editor Markets global financial markets articles & Finance NewsMarkets global financial markets articles & Finance News The dollar scaled three-week peaks on Friday, supported by better-than-forecast U.S. retail sales data released on Thursday that backed expectations for a reduction of asset purchases by the Federal Reserve before the end of the year. The dollar index, a gauge of the greenback's value against six major currencies, rose to 93.220, the highest since the third week of August. It was last up 0.4% at 93.207. For the week, the dollar index gained 0.6%, its largest weekly percentage rise since mid-August. The Fed holds a two-day monetary policy meeting next week and is expected to open discussions on reducing its monthly bond purchases, while tying any actual change to U.S. job growth in September and beyond. "While we doubt that the FOMC will set out a plan for tapering its asset purchases, the new economic projections may shed some light on its reaction function given building cyclical inflationary pressures," wrote Jonathan Petersen, markets economist at Capital Economics, in its latest research note. "Our view remains that inflation in the U.S. will stay elevated for longer than the FOMC and investors currently anticipate, in turn supporting higher U.S. yields and a stronger dollar," he added. Speculation about a Fed taper this year gathered pace after U.S. retail sales unexpectedly increased in August, data showed on Thursday, rising 0.7% from the previous month despite expectations of a 0.8% fall. A business sentiment survey also showed a big improvement. In afternoon New York trading, the euro slid 0.3% to $1.1729, after hitting a three-week low of $1.1724 earlier in the session. The University of Michigan consumer sentiment for September inched higher to 71 versus the final August reading of 70.3, but overall analysts said the rise was nowhere near the improvements seen in the Empire States and Philadelphia Fed manufacturing surveys. The dollar held gains after the Michigan sentiment report. Currency markets were generally quiet on Friday with traders reluctant to take on new positions ahead of a clutch of important central bank meetings next week including the Fed, the Bank of Japan and the Bank of England. The dollar was up 0.5% against the Swiss franc at 0.9320 francs, after earlier hitting a five-month high of 0.9324 francs. The dollar rose 0.2% to 109.92 yen. The yen has shown limited reaction to the ruling Liberal Democratic Party's leadership race, which formally kicks off on Friday ahead of a Sept. 29 vote. The LDP's parliamentary dominance means the party's new leader will become prime minister. The dollar also rose to a two-week high against the offshore yuan and was last up 0.3% at 6.4711 . The yuan is being pressured by growing worries about China's real estate sector as investors fear property giant China Evergrande could default on its coupon payment next week. The British pound fell 0.4% to $1.3738 as UK retail sales undershot expectations. However, with investors bringing forward forecasts for a Bank of England interest rate hike to mid-2022, sterling remains supported. ======================================================== Currency bid prices at 2:59PM Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index 93.1820 92.8730 0.35% 3.557% 93.2200 92.7600 Euro/Dollar $1.1729 $1.1768 -0.33% -4.00% $1.1789 $1.1724 Dollar/Yen 109.9250 109.7500 0.16% 6.39% 110.0750 109.6700 Euro/Yen 128.93 129.13 -0.15% 1.58% 129.6600 128.9200 Dollar/Swiss 0.9323 0.9279 0.46% 5.36% 0.9324 0.9261 Sterling/Dollar $1.3737 $1.3792 -0.38% 0.57% $1.3812 $1.3736 Dollar/Canadian 1.2742 1.2685 0.44% 0.05% 1.2762 1.2638 Aussie/Dollar $0.7273 $0.7295 -0.30% -5.45% $0.7321 $0.7266 Euro/Swiss 1.0933 1.0915 0.16% 1.17% 1.0935 1.0906 Euro/Sterling 0.8535 0.8528 0.08% -4.50% 0.8553 0.8523 NZ $0.7040 $0.7076 -0.53% -1.99% $0.7086 $0.7026 Dollar/Dollar Dollar/Norway 8.6910 8.6385 0.69% 1.29% 8.7075 8.5925 Euro/Norway 10.1958 10.1410 0.54% -2.59% 10.2139 10.1136 Dollar/Sweden 8.6743 8.6210 0.31% 5.83% 8.6896 8.6038 Euro/Sweden 10.1750 10.1435 0.31% 0.98% 10.1965 10.1370 European stocks were on track for weekly gains on Friday as news that Britain was mulling easing travel restrictions boosted airlines and hotel groups, while a rebound in luxury stocks also supported the main indexes. Central European currencies largely drifted weaker and most stocks sagged on Friday, with global sentiment weak, although the Czech crown held near a more than 1-1/2 year high on bets the central bank could speed up rate hikes. The crown hit its highest since February 2020 - when the COVID-19 pandemic first started rattling markets - on Thursday after data showed a jump in producer prices and hawkish comments from a central banker. CSOB said comments on Thursday from Czech central bank Vice-Governor Marek Mora - who said in an interview with Bloomberg that odds were moving closer to a stronger 50 basis point rate hike at the next policy meeting this month - raised chances the bank could opt for a steeper rate hike. But the crown would still be caught in global trading moods until more central bankers possibly comment, it said. "Markets will be watching the outcome of the U.S. Fed meeting and also German elections ," CSOB said. The crown was up 0.1% at 25.304 to the euro at 0844 GMT. The Hungarian forint was steady at 351.170 to the euro. The Polish zloty was at 4.582 to the euro. The zloty has lagged peers as Poland's central bank keeps policy loose despite inflation hitting a two-decade high. Analysts expected the zloty to stabilize, despite uncertainty over interest rates and the EU's delay on approving recovery funds. "We assume the Polish currency to be stable after the last two days...but local factors will still have a negative impact," Bank Millenium said in a note. In June, the Czech and Hungarian central banks became the first in the European Union to raise interest rates to tame price pressures coming as economies recover from the pandemic. The Czech bank has debated whether faster rate increases, something markets are betting on. In stock markets, central European indices were mixed, with Prague leading gains at 1306.53 while Warsaw dropped 0.26% and rising by 0.07% at 0855 GMT. CEE SNAPSHO AT MARKETS T 1044 CET CURRENC IES Latest Previou Daily Change s bid close change in 2021 EURCZK Czech EURHUF Hungary 0 0 EURPLN Polish EURRON Romanian EURHRK Croatian EURRSD Serbian 0 0 Note: calcula 1800 daily ted CET change from STOCKS Latest Previou Daily Change s close change in 2021 .PX Prague 1306.18 1301.98 0.32% 27.17 00 % .BUX Budapest 52345.4 52331.3 0.03% 24.31 1 1 % .WIG20 Warsaw % .BETI Buchares 12291.2 12265.2 0.21% 25.35 t 9 5 % .SBITO Ljubljan % .CRBEX Zagreb % .BELEX Belgrade .SOFIX Sofia % BONDS Yield Yield Spread Daily change vs Bund change in Czech spread Republic CZ2YT= 2-year s CZ5YT= 5-year s CZ10YT s Poland PL2YT= 2-year s PL5YT= 5-year s PL10YT s FRA 3x6 6x9 9x12 3M interba nk Czech Hungary Poland Note: FRA quotes are for ask prices *********************************** *************************** * European shares fall for third week in a row, miners worst hit Stock index futures showed Wall Street was set for a weaker open while world shares were heading for a weekly loss on Friday on China jitters and global growth concerns, though strong U.S. retail sales data boosted the dollar. * Graphic: World FX rates snrt.rs/2RBWI5E Reuters, the news and media division of Thomson Reuters , is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Debate over the need for COVID-19 booster shots is clouding the outlook for Moderna Inc's high-flying shares after the U.S. biotechnology company's stock price soared as much as 360% this year, making it the best performer in the S&P 500. U.S. officials are examining possible insider trading and market manipulation at global cryptocurrency exchange Binance, Bloomberg News reported on Friday. China will "steadily and prudently" promote yuan internationalisation in 2021, and further develop offshore yuan markets, the central bank said on Saturday. All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. * Indexes down: Dow 0. what is the best stocks to buy in philippines 4