- Central bank decisions due this week from Fed, ECB and BOE
- Fed’s peak rates seen dashing investor hopes for 2023 cuts
The dollar edged higher and stocks declined in Asia at the start of a pivotal week for markets, with interest rate decisions due from the Federal Reserve, the European Central Bank and a host of their peers.
The greenback rose versus all of its Group-of-10 counterparts while and index of Asian equities fell, ending a two-day winning streak.
A late-day slide in US stocks on Friday shattered the calm that prevailed throughout most of the trading session, with the S&P 500 closing near the day’s lows. The Dow Jones Industrial Average notched its worst weekly drop since September. US stock futures fell in Asia on Monday.
The Treasury 10-year yield was little changed after a jump on Friday that took it to just below 3.6%. Yields for government bonds in Australia and New Zealand rose.
Key events this week:
- US CPI, Tuesday
- FOMC rate decision and Fed Chair news conference, Wednesday
- China medium-term lending, property investment, retail sales, industrial production, surveyed jobless, Thursday
- ECB rate decision and ECB President Lagarde briefing, Thursday
- Rate decisions for UK BOE, Mexico, Norway, Philippines, Switzerland, Taiwan, Thursday
- US cross-border investment, business inventories, empire manufacturing, retail sales, initial jobless claims, industrial production, Thursday
- Eurozone S&P Global PMI, CPI, Friday